Company: PGACR
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001213900-25-108205
Chunk: 18

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 18
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 issued, but not effective, accounting standards, if currently adopted, would have a material effect
on the Company’s unaudited financial statements.

10

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 price of $