Company: PGACR
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-002878
Chunk: 1070

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-03-27
Form: 10-K
Item: Item 11
Chunk 1070
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 statements.

Management does not believe that any recently
issued, but not effective, accounting standards, if currently adopted, would have a material effect on the Company’s financial statements.

Note 3 — Initial Public
Offering

On December 6, 2024, the Company sold 8,625,000 Units (including 1,125,000
Units issued upon the full exercise of the Over-Allotment Option) in its IPO. Each Unit has an offering price of $10.00 and consists of
one share of the Company’s Class A ordinary share and one right. Each right entitles the holder thereof to receive one-fifth
of one Class A ordinary share upon completion of the Company’s initial business combination. The Company will not issue fractional
shares. As a result, the holder must hold rights in multiples of 5 in order to receive shares for all of their rights upon closing of
an initial business combination.

Note 4 — Private Placement

Simultaneously with the closing
of the IPO, the Sponsor purchased an aggregate of 244,250 Units at a price of $10.00 per Unit for an aggregate purchase
price of $2,442,500 in the Private Placement. Each Private Placement Units was identical to the Units sold in the IPO, except that
it will not be redeemable, transferable, assignable or salable by the Sponsor until the completion of its initial business combination
(except to certain permitted transferees).

Note 5 — Related Party
Transactions

Founder shares

On June 14, 2024, the Company’s CEO,
Mr. William W. Snyder, the Company’s CFO, Ms. Jia Peng, and the sponsor, Aitefund Sponsor LLC, acquired an aggregate of
1,725,000 shares of Class B ordinary shares of a par value of $0.0001 for an aggregate purchase price of $25,000 (the “founder
shares”) from the Company, of which: (i) the CEO acquired 100,000 founder shares for a purchase price of $1,449 or approximately
$0.014 per share; (ii) the CFO acquired 60,000 founder shares for a purchase price of $870, or approximately $0.014 per share;
and (iii) the Sponsor acquired 1,565,000 founder shares for a purchase