Company: PGACR
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044013
Chunk: 45

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 2
Chunk 45
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 The management’s plan in addressing this uncertainty is through the Working
Capital Loans. In addition, if we are unable to complete a Business Combination within the Combination Period by March 6, 2026, if not
further extended, our board of directors would proceed to commence a voluntary liquidation and thereby a formal dissolution of us. There
is no assurance that our plans to consummate a Business Combination will be successful within the Combination Period. As a result, management
has determined that such conditions raise substantial doubt about our ability to continue as a going concern. The unaudited financial
statements do not include any adjustments that might result from the outcome of this uncertainty.

Off-Balance Sheet Financing Arrangements

We have no obligations, assets
or liabilities, which would be considered off-balance sheet arrangements as of March 31, 2025. 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.

18

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 filing any such registration
statements.

Underwriting Agreement

The underwriters received
a cash underwriting discount of $0.125 per Public Unit, or $1,078,125 in the aggregate and paid at the closing of the IPO and the exercising
of over-allotment option in part. In addition, the underwriters will be entitled to a deferred fee of $0.10 per Public Unit, or approximately
$862,500 in the aggregate upon the