Company: PGACR
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001213900-25-108205
Chunk: 61

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 8
Chunk 61
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    Cash
    and Investments held in Trust Account 
    $86,518,878  
    $86,518,878  
    $        -  
    $         - 
  
    Total 
    $86,518,878  
    $86,518,878  
    $-  
    $- 

The
rights were valued, using a calculation prepared by management which takes into consideration the probability of completion of the IPO,
an implied probability of the completion of an initial business combination and a Discount for Lack of Marketability calculation. The
rights are classified as Level 3 at the measurement date due to the use of unobservable inputs including the probability of an initial
business combination, the probability of the initial public offering, and other risk factors.

Class A
ordinary shares subject to possible redemption

The
Company accounts for its Class A ordinary shares subject to possible redemption in accordance with the guidance in ASC Topic 480,
“Distinguishing Liabilities from Equity” (ASC 480). Ordinary shares subject to mandatory redemption (if any) will be
classified as a liability instrument and will be measured at fair value. Conditionally redeemable ordinary shares (including ordinary
shares that features redemption rights that are either within the control of the holder or subject to redemption upon the occurrence
of uncertain events not solely within the Company’s control) will be classified as temporary equity. At all other times, ordinary
shares will be classified as shareholders’ equity. In accordance with ASC 480-10-S99, the Company classifies the Class A
ordinary shares subject to redemption outside of permanent equity as the redemption provisions are not solely within the control of the
Company. Given that the 8,625,000 Class A ordinary shares sold as part of the Public Units in the IPO were issued with other
freestanding instruments (i.e., rights), the initial carrying value of Class A ordinary shares classified as temporary equity has
been allocated to the proceeds determined in accordance with ASC 470-20. If it is probable that the equity instrument will become
redeemable, the Company has the option to either (i) accrete changes in the redemption value over the period from the date of issuance
(or from the date that it becomes probable that the instrument will become redeemable, if later) to the earliest redemption date of the
instrument or (ii) recognize changes in the redemption value immediately as they occur and adjust the carrying