Company: PGACR
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044013
Chunk: 27

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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 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. 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