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

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 10
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 statements
in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities
and disclosure of contingent assets and liabilities at the date of the unaudited financial statements and the reported amounts of expenses
during the reporting period. Actual results could differ from those estimates.

Cash and Cash Equivalents

The Company considers all short-term investments
with an original maturity of three months or less when purchased to be cash equivalents. The Company had $273,472 and $533,006 cash
in bank as of March 31, 2025 and December 31, 2024, respectively.

Cash and Investments Held in Trust Account

As of March
31, 2025 and December 31, 2024, the Company had $87,415,481 and $86,518,878 in Cash and
investments held in Trust Account, which are invested in money market funds which
invest in U.S. Treasury securities.

Concentration of Credit Risk

Financial
instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in a financial
institution, which, at times, may exceed the Federal Depository Insurance Coverage (“FDIC”) of $250,000. As of March 31,
2025 and December 31, 2024, $23,472 and $283,006, respectively, were over
the FDIC limit. The Company has not experienced losses on these accounts.

Offering Costs

The Company complies with the requirements of
Accounting Standards Codification (“ASC”) 340-10-S99-1 and SEC Staff Accounting Bulletin (“SAB”) Topic 5A — Expenses
of Offering. Deferred offering costs consist of underwriting, legal, and other expenses incurred through the balance sheet date that
are directly related to the IPO and were charged to shareholders’ equity upon the completion of the IPO. 

8

Net Income Per Share

The Company complies with accounting and disclosure
requirements of FASB ASC 260, “Earnings Per Share”. Net income per ordinary share is computed by dividing net income by the
weighted average number of ordinary shares outstanding for the period. Remeasurement of carrying value to redemption value of redeemable
ordinary shares is excluded from income per share as the redemption value approximates fair value. For the three months ended March 31,
2025, the Company has not considered the effect of the Rights included in the IPO and