Company: PGACR
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044013
Chunk: 158

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 158
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31, 2025 and December 31, 2024, there were 8,625,000 public rights included the public Units outstanding and 244,250 private
rights included in the Private Placement Units outstanding. Except in cases where the Company is not the surviving company
in an initial business combination, each holder of a right will automatically receive one-fifth of one Class A ordinary share upon
consummation of the Company’s initial business combination. In the event the Company will not be the surviving company upon completion
of the Company’s initial business combination, each right will automatically be converted to receive the kind and amount of securities
or properties of the surviving entity that each one-fifth of one Class A ordinary share underlying each right is entitled to upon
consummation of the initial business combination subject to any dissenter rights under the applicable law. The Company will not issue
fractional shares in connection with a conversion of rights. Fractional shares will either be rounded down to the nearest whole share
or otherwise addressed in accordance with the applicable provisions of the Companies Act and any other applicable Cayman Islands law.
As a result, you must hold rights in multiples of five in order to receive shares for all of your Class A ordinary shares underlying
the rights upon closing of an initial business combination. If the Company is unable to complete an initial business combination within
the required time period and the Company redeem the public shares for the funds held in the Trust Account, holders of rights will not
receive any of such funds for their rights and the rights will expire worthless. The Company shall reserve such amount of its profits
or share premium in order to pay up the par value of each share issuable in respect of the rights.

Note 8 — Segment Information

ASC Topic
280, “Segment Reporting,” establishes standards for companies to report in their financial statement information about operating
segments, products, services, geographic areas, and major customers. Operating segments are defined as components of an enterprise for
which separate financial information is available that is regularly evaluated by the Company’s chief operating decision maker, or
group, in deciding how to allocate resources and assess performance.

The Company’s
CODM has been identified as the Chief Financial Officer, who reviews the operating results for the Company as a whole to make decisions
about allocating resources and assessing financial performance. Accordingly, management has determined that the Company only has one operating
segment.

When evaluating the Company’s performance
and making key decisions regarding resource allocation