Company: PGACR
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001213900-25-108205
Chunk: 73

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 8
Chunk 73
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 May 31, 2024
as an exempted company with limited liability. The Company was formed for the purpose of effecting a merger, share exchange, asset acquisition,
share purchase, recapitalization, reorganization or similar business combination involving the Company, with one or more businesses or
entities (the “initial business combination”). We intend to effectuate our initial business combination using cash from the
proceeds of our IPO (as defined below), Private Placement (as defined below), and the sale of our shares, debt or a combination of cash,
equity and debt. We expect to continue to incur significant costs in the pursuit of our acquisition plans. We cannot assure you that
our plans to complete an initial business combination will be successful.

Our
Initial Public Offering

On
December 6, 2024, the Company consummated its initial public offering (the “IPO”) of 8,625,000 units (the “Public Units”),
including 1,125,000 additional Units granted to the underwriters to cover over-allotments, if any (the “Over-Allotment Option”).
Public Unit consisting of one Class A ordinary share (the “Class A Ordinary Shares”) of the Company, par value $0.0001 per
share (the “Public Shares”), and one right (the “Rights”) of the Company, each right entitling the holder to
receive one-fifth of one Class A Ordinary Share for (the “Public Rights”). The Units were sold at an offering price of $10.00
per Unit, generating total gross proceeds of $86,250,000.

Simultaneously
with the closing of the IPO, we consummated a private placement (the “Private Placement”) with Aitefund Sponsor LLC, our
sponsor (the “sponsor”), of an aggregate of 244,250 units (the “Private Placement Units”) at a price of $10.00
per Private Placement Unit, generating gross proceeds to the Company of $2,442,500. Each Private Placement Unit consists of one Class
A ordinary share (the “Private Placement Shares”), and one Right (the “Private Placement Rights”). The terms
and provisions of the Private Placement Shares and Private Placement Rights in the Private Placement Units are identical to the Public
Shares and Public Rights, respectively, except that, subject to certain limited exceptions, the Private Placement Shares are subject
to transfer restrictions until the consummation of the Company’s initial business combination