Company: PGACR
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044013
Chunk: 44

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 2
Chunk 44
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 of $680,854 and the increase in accounts payable and accrued expenses of $930.

For the three months ended
March 31, 2025, there was no investing nor financing activities.

We intend to use the funds
held outside the trust account to primarily identify and evaluate target businesses, perform business due diligence on prospective target
businesses, travel to and from the offices, plants or similar locations of prospective target businesses or their representatives or owners,
review corporate documents and material agreements of prospective target businesses, structure, negotiate and complete an initial business
combination.

In order to fund working
capital deficiencies or finance transaction costs in connection with an initial business combination, our directors, officers and the
sponsor (together, the “insiders”) or their affiliates or designees may, but are not obligated to, loan us funds as may be
required. If the Company completes the initial business combination, it would repay such loaned amounts. In the event that the initial
business combination does not close, we may use a portion of the working capital held outside the trust account to repay such 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 March 31, 2025, 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.

In connection with our assessment
of going concern considerations in accordance with Financial Accounting Standard Board’s Accounting Standards Codification Subtopic
205-40, Presentation of Financial Statements - Going Concern,” management has determined that these conditions raise substantial
doubt about our ability to continue as a going concern.