Company: PGACR
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001213900-25-108205
Chunk: 6

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 6
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 non-operating income in the form of dividend
and/or interest income from the proceeds derived from the IPO and Private Placement (“Private Placement”, see Note 4).

The
Company’s management has broad discretion with respect to the specific application of the net proceeds of the IPO and the sale
of the Private Placements Units (as defined below), although substantially all of the net proceeds are intended to be applied generally
toward consummating an initial business combination. There is no assurance that the Company will be able to complete an initial business
combination successfully.

The
Company’s founder and sponsor is Aitefund Sponsor LLC, a Delaware limited liability company formerly known as “Shepherd Ave
Capital Sponsor LLC” (the “Sponsor”). The Company’s ability to commence operations is contingent upon obtaining
adequate financial resources through the IPO and the Private Placement.

On
December 6, 2024, the Company consummated IPO of 8,625,000 units (including 1,125,000 units issued upon the full exercise of the over-allotment
option (the “Over-Allotment Option”), the “Units”). Each Unit consists of one Class A ordinary share (the “Class
A ordinary share”), $0.0001 par value per share (collectively, the “public shares”), and one right to receive of one-fifth of
one Class A ordinary share upon the completion of the initial business combination of the Company. The Units were sold at an offering
price of $10.00 per Unit, generating total gross proceeds of $86,250,000.

Simultaneously
with the consummation (the “closing”) of the IPO and the sale of the Units, the Company consummated the Private Placement
of 244,250 units (the “Private Placement Units”) to the Sponsor, at a price of $10.00 per Private Placement Unit, generating
total proceeds of $2,442,500, which is described in Note 4. Each Private Placement Unit consists of one Class A ordinary share, and one
right to receive of one-fifth of one Class A ordinary share upon the completion of the initial business combination.

Transaction
costs amounted to $2,528,729, consisting of $1,078,125 of underwriting commissions which was paid in cash at the closing date of the
IPO, $862,500 of deferred underwriting commissions, and $588,104 of other offering costs. At the