Company: PGACR
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044013
Chunk: 140

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 140
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AIFEEX NEXUS ACQUISITION CORPORATION

NOTES TO UNAUDITED FINANCIAL STATEMENTS

Note 1 — Organization,
Business Operation and Going Concern Consideration

Aifeex Nexus Acquisition Corporation (the “Company”,
formerly known as “Shepherd Ave Capital Acquisition Corporation”) is a blank check company incorporated in the Cayman Islands
on 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”). The Company’s efforts to identify a prospective
target business will not be limited to a particular industry or geographic location. The Company has elected December 31 as its fiscal
year end.

As of March 31, 2025, the Company had not commenced
any operations. For the three months ended March 31, 2025, the Company’s efforts have been limited to organizational activities,
activities related to the initial public offering (“IPO”, see Note 3), and search for target for business combination.
The Company will not generate any operating revenues until after the completion of an initial business combination, at the earliest. The
Company will generate non-operating income in the form of dividend and/or interest income from the proceeds derived from the IPO and Private
Placement (“Private Placement”, see Note 4).

The Company’s management has broad discretion
with respect to the specific application of the net proceeds of the IPO and the sale of the Private Placements Units (as defined below),
although substantially all of the net proceeds are intended to be applied generally toward consummating an initial business combination.
There is no assurance that the Company will be able to complete an initial business combination successfully.

The Company’s founder and sponsor is Aitefund
Sponsor LLC, a Delaware limited liability company formerly known as “Shepherd Ave Capital Sponsor LLC” (the “Sponsor”).
The Company’s ability to commence operations is contingent upon obtaining adequate financial resources through the IPO and the Private
Placement.

On December 6, 2024, the Company consummated IPO
of 8,625,000 units (including 1,125,000 units issued upon the full exercise of the over-allotment option (the “Over-Allotment Option”),
the “Units”). Each Unit consists of one Class A ordinary