Company: PGACR
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-002878
Chunk: 408

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-03-27
Form: 10-K
Item: Item 4
Chunk 408
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 loaned amounts
but no proceeds from the trust account would be used for such repayment. Up to $3,000,000 of such loans (the “Working Capital Loans”)
may be convertible into Units of the Company, at a price of $10.00 per Unit (the “Working Capital Units”) at the option of
the lender. As of December 31, 2024, the Company had no borrowings under the Working Capital Loans.

We do not believe we will
need to raise additional funds in order to meet the expenditures required for operating our business. However, if our estimate of the
costs of identifying a target business, undertaking in-depth due diligence and negotiating an initial business combination are less than
the actual amount necessary to do so, we may have insufficient funds available to operate our business prior to our initial business combination.
Moreover, we may need to obtain additional financing either to complete our initial business combination or because we become obligated
to redeem a significant number of our Public Shares upon completion of our initial business combination in which case we may issue additional
securities or incur debt in connection with such initial business combination.

13

Off-Balance Sheet Financing Arrangements

We have no obligations, assets
or liabilities, which would be considered off-balance sheet arrangements as of December 31, 2024. We do not participate in transactions
that create relationships with unconsolidated entities or financial partnerships, often referred to as variable interest entities, which
would have been established for the purpose of facilitating off-balance sheet arrangements. We have not entered into any off-balance sheet
financing arrangements, established any special purpose entities, guaranteed any debt or commitments of other entities, or purchased any
non-financial assets.

Contractual Obligations

Registration Rights

The holders of the founder
shares and Private Placement Units, including any Working Capital Units of those issued upon conversion of Working Capital Loans will
be entitled to registration rights pursuant to a registration rights agreement signed on December 4, 2024 by and among the Company and
the insiders. The holders of these securities are entitled to make up to three demands, excluding short form demands, that the Company
register such securities. In addition, the holders have certain “piggy-back” registration rights with respect to registration
statements filed after the completion of our initial business combination and rights to require the Company to register for resale such
securities pursuant to Rule 415 under the Securities Act. The Company will bear the costs and expenses of