Company: PGACR
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001213900-25-108205
Chunk: 7

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 7
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 IPO date, cash of $941,835 was
held outside of the Trust Account (as defined below) and is available for the payment of accrued offering costs and for working capital
purposes.

The
Company’s initial business combination must occur with one or more target businesses that together have an aggregate fair market
value of at least 80% of the value of the Trust Account (excluding any deferred underwriters’ fees and taxes payable on the income
earned on the Trust Account) at the time of the agreement to enter into the initial business combination. The Company will complete its
initial business combination only if the post-transaction company in which its public shareholders own shares will own or acquire 50%
or more of the outstanding voting securities of the target or otherwise acquires a controlling interest in the target sufficient for
it not to be required to register as an investment company under the Investment Company Act of 1940, as amended (the “Investment
Company Act”). There is no assurance that the Company will be able to complete an initial business combination successfully.

5

Upon
the closing of the IPO, management has agreed that at least $10.00 per Unit sold in the IPO will be held into a U.S.-based trust account
(“Trust Account”). The funds held in the Trust Account will be invested only in U.S. government treasury bills with
a maturity of 185 days or less, or in money market funds meeting the applicable conditions of Rule 2a-7 promulgated under the
Investment Company Act that invest solely in direct U.S. government treasury. Except with respect to dividend and/or interest earned
on the funds held 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