Company: PGACR
Filing Date: 2025-02-04
Form Type: PRE 14A
Source: 0001213900-25-009651
Chunk: 11

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-02-04
Form: PRE 14A
Chunk 11
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 severely prolong the time and resources needed for completing business combination. In recent years, the U.S. Government has expressed concerns with the national security implications for U.S. persons to invest in or enter in transactions with foreign persons in certain jurisdictions, such as China, Russia, and other foreign adversaries. In addition to risks associated with the review of potential transactions under the CFIUS regime as described in the IPO Prospectus, the U.S. Congress and various executive agencies, including the Department of Commerce, Department of Treasury, and the Department of Justice, have enacted, imposed or proposed a series of measures aimed at increasing oversight of certain commercial transactions or investments involving companies controlled by foreign adversaries or incorporated in those jurisdictions. For example, in August 2023, the President issued Executive Order 14105, which addresses national security risks arising from outbound equity investment by U.S. persons and entities they control in covered foreign persons engaging in certain sensitive technologies and products. The order asked the Department of Treasury to establish an outbound investment review regime (the “Outbound Investment Review Regime”) to screen outbound capital flows that can be exploited to accelerate development of technologies used to support the military, intelligence, surveillance, and cyber -enabledcapabilities of a country of concern through advancement of technologies and products in certain particularly sensitive areas. The order cited China (including Hong Kong and Macau) as a country of concern. On October 28, 2024, after a notice -and -commentprocess, the Treasury Department published final rules (the “Outbound Investment Review Final Rules”) to implement the Outbound Investment Review Regime, which went into effect on January 2, 2025. The Outbound Investment Review Rules prohibited U.S. persons from engaging in outbound investments or transactions involving Chinese persons and entities(including China, Hong Kong and Macau) involving specified products and technologies in the (i) semiconductors and microelectronics, (ii) quantum information technologies, and (iii) artificial intelligence model (AI) model above specified thresholds of computing power or developed for specified end uses (“Relevant Technologies”), while requiring notifications for certain other outbound investment transactions involving the Relevant Technologies. The Outbound Investment Review Regime, together with enhanced powers assigned to the Committee on Foreign Investment in the United States (CFIUS), export control and trade restrictions managed by the Department of Commerce, and the economic sanctions regime managed by the Office of Foreign Asset Control (OFAC) within the Department of Treasury, could result in increased scrutiny of transactions involving companies controlled by foreign adversaries