Company: PGACR
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-002878
Chunk: 907

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-03-27
Form: 10-K
Item: Item 9B
Chunk 907
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 in the Trust Account that may
be released to the Company to pay the Company’s tax obligation, if any, the proceeds from the IPO and the sale of the Private Placement
Units that are deposited and held in the Trust Account will not be released from the Trust Account until the earliest to occur of
(i) the completion of the Company’s initial business combination; (ii) the redemption of any public shares properly tendered
in connection with a shareholder vote to amend the company’s memorandum and articles of association effective at the time to (A) modify
the substance or timing of obligation to redeem 100% of the Company’s public shares if the Company does not complete the Company’s
initial business by the Combination Deadline (as defined below) or (B) with respect to any other provision relating to shareholders’
rights or pre-initial business combination activity; and (iii) the redemption of all of public shares if the company are unable to
complete their initial business combination by the Combination Deadline, subject to applicable law. In no other circumstances will a public
shareholder have any right or interest of any kind to or in the trust account. The proceeds deposited in the Trust Account could become
subject to the claims of the Company’s creditors, if any, which could have priority over the claims of the public shareholders.

The Company will have until March 6, 2026 (or
15 months from the consummation of the IPO) to consummate the initial business combination, or up to June 6, 2026 (or 18 months from
the consummation of the IPO) if it has executed a letter of intent, agreement in principle or definitive agreement for an initial business
combination before March 6, 2026. The applicable deadline to consummate the initial business combination in each case, March 6, 2026 or
June 6, 2026, is referred as the “Combination Deadline”.

The Company will provide its public shareholders
with the opportunity to redeem all or a portion of their public shares upon the completion of the initial business combination either
(i) in connection with a shareholder meeting called to approve the initial business combination or (ii) by means of a tender
offer.

The ordinary shares subject to redemption will
be accredited to the redemption value and classified as temporary equity upon the completion of the IPO, in accordance with Accounting
Standards Codification (“ASC”) Topic 480 “Distinguishing Liabilities from Equity.”