Company: PGACR
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-075873
Chunk: 52

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 52
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 initial business combination
and to waive their redemption rights with respect to their founder shares, private shares, and public shares in connection with a shareholder
vote to approve an amendment to the Company’s amended and restated articles of association (A) to modify the substance or
timing of our obligation to allow redemption in connection with the initial business combination or to redeem 100% of the public shares
if the Company does not complete its initial business combination within 15 months from the closing of this offering (or up to 18 months,
if extended) or (B) with respect to any other provision relating to shareholders’ rights or pre-initial business combination
activity.

6

The Sponsor has agreed that it will be liable to the Company if and
to the extent any claims by a third party for services rendered or products sold to the Company, or a prospective target business with
which the Company has entered into a written letter of intent, confidentiality or similar agreement or business combination agreement,
reduce the amount of funds in the Trust Account to below the lesser of (i) $10.00 per public share and (ii) the actual amount
per public share held in the Trust Account as of the date of the liquidation of the Trust Account, if less than $10.00 per share due to
reductions in the value of the trust assets, less taxes payable, provided that such liability will not apply to any claims by a third
party or prospective target business who executed a waiver of any and all rights to the monies held in the Trust Account (whether or not
such waiver is enforceable) nor will it apply to any claims under the Company’s indemnity of the underwriters of this offering against
certain liabilities, including liabilities under the Securities Act. However, the Company has not asked the Sponsor to reserve for such
indemnification obligations, nor have the Company independently verified whether the Company’s Sponsor has sufficient funds to satisfy
its indemnity obligations and believe that the Sponsor’s only assets are securities of the company. Therefore, it cannot be assured
that the Sponsor would be able to satisfy those obligations. None of the officers or directors will indemnify the Company for claims by
third parties including, without limitation, claims by vendors and prospective target businesses.

Going Concern Consideration

As of June 30, 2025, the Company had $294,644
cash and a working capital of $107,405. The Company expects to incur significant professional costs to remain as