Company: PGACR
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-002878
Chunk: 0

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1
Chunk 0
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Item
1. Business.

General

We are a blank check company
incorporated as a Cayman Islands exempted company 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, which
we refer to throughout this report as our “initial business combination”. We have neither engaged in any operations nor generated
any revenue to date. Based on our business activities, we are a “shell company” as defined under the Securities Exchange Act
of 1934 (the “Exchange Act”) because we have no operations and nominal assets consisting almost entirely of cash.

On
December 6, 2024, the Company consummated its initial public offering (the “IPO”) of 8,625,000 units (“Units”),
including 1,125,000 additional Units granted to the underwriters to cover over-allotments, if any (the “Over-Allotment Option”).
Each Unit consists of one Class A ordinary share, $0.0001 par value per share (“Class A ordinary shares”), and one right
(“rights”) to receive of one-fifth of one Class A ordinary share upon the completion of the initial business combination.
The Units were sold at an offering price of $10.00 per Unit, generating total gross proceeds of $86,250,000.

Simultaneously
with the consummation of the IPO and the sale of the Units, the Company consummated the private placement (“Private Placement”)
of 244,250 units (the “Private Placement Units”) to the sponsor, at a price of $10.00 per Private Placement Unit, generating
total proceeds of $2,442,500.

Upon the closing of the IPO,
management has agreed that $86,250,000, or $10.00 per Unit sold in the IPO, would be held into a U.S.-based trust account (“trust
account”), with Wilmington Trust, N.A. acting as trustee. The funds held in the trust account are invested only in U.S. government
treasury bills with a maturity of 185 days or less, or in money market funds meeting the applicable conditions of Rule 2a-7
promulgated under the Investment Company Act which invest solely in direct U.S. government treasury. Except with respect to divided
and/or interest earned on the funds held in the trust