Company: PGACR
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-075873
Chunk: 112

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 3
Chunk 112
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 Quarterly Report on Form 10-Q, there has been no changes in our internal control over financial reporting (as such term is defined
in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) during the fiscal quarter covered by this report that has materially
affected, or are reasonably likely to materially affect, our internal control over financial reporting.

21

PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS.

We are not a party to any
material legal proceedings and no material legal proceedings have been threatened by us or, to the best of our knowledge, against us.

ITEM 1A. RISK FACTORS.

As a smaller reporting company,
we are not required to include risk factors in this Report. However, factors that could cause our actual results to differ materially
from those in this Quarterly Report are any of the risks described in our Prospectus. Any of these factors could result in a significant
or material adverse effect on our results of operations or financial condition. Additional risk factors not presently known to us or that
we currently deem immaterial may also impair our business or results of operations. As of the date of this Quarterly Report, there have
been no material changes to the risk factors disclosed in our Prospectus.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
FROM REGISTERED SECURITIES.

Founder Shares Sales and Transfer

On June 14, 2024, our CEO,
Mr. William W. Snyder, our CFO, Ms. Jia Peng, and the sponsor (the “sponsor”) of our IPO (as defined below), Aitefund Sponsor
LLC, acquired an aggregate of 1,725,000 Class B ordinary shares, par value of $0.0001 each (the “founder shares”), for an
aggregate purchase price of $25,000. On July 9, 2024, an additional 431,250 founder shares were issued, at par value, to the sponsor,
for the purchase price of $43, resulting that the sponsor to hold 1,996,250 founder shares.

On December 4, 2024, the
effective date of the registration statement of the IPO (as defined below), the sponsor transferred an aggregate of 60,000 of its founder
shares, or 20,000 each to its three independent directors for their board service, for nominal cash consideration, of $696.