Company: PGACR
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-002878
Chunk: 58

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1
Chunk 58
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 the Company. As a result, diluted loss per share is the same as basic
loss per share for the period presented.

    For The Period From  May 31, 2024 (Inception) Through  December 31, 2024 

    Non-Redeemable 

    Redeemable Class A  
    Class A and Class B 

    Ordinary Shares  
    Ordinary Shares 
  
    Basic and diluted net loss per ordinary share: 

    Numerators: 

    Allocation of net loss 
    $(29,198) 
    $(56,113)
  
    Denominators: 

    Basic and diluted weighted average shares outstanding 
     1,007,593  
     1,936,390 
  
    Basic and diluted net loss per ordinary share 
    $(0.03) 
    $(0.03)

F-11

Fair Value of Financial Instruments

The fair value of the Company’s assets and
liabilities, which qualify as financial instruments under FASB ASC 820, “Fair Value Measurements and Disclosures,” approximates
the carrying amounts represented in the accompanying balance sheet, primarily due to their short-term nature.

The Company applies ASC 820, which establishes
a framework for measuring fair value and clarifies the definition of fair value within that framework. ASC 820 defines fair value as an
exit price, which is the price that would be received for an asset or paid to transfer a liability in the Company’s principal or
most advantageous market in an orderly transaction between market participants on the measurement date. The fair value hierarchy established
in ASC 820 generally requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring
fair value. Observable inputs reflect the assumptions that market participants would use in pricing the asset or liability and are developed
based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the entity’s own
assumptions based on market data and the entity’s judgments about the assumptions that market participants would use in pricing
the asset or liability and are to be developed based on the best information available in the circumstances.

    ●
    Level 1 — Assets and liabilities with unadjusted, quoted prices listed on active market exchanges. Inputs to the fair value measurement are observable inputs, such as quoted prices in active markets for identical assets or liabilities.

    ●
    Level 2 — Inputs to the fair value measurement are determined using prices for