Company: PGACR
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044013
Chunk: 26

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 26
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 of $896,603 on cash and
investments held in Trust Account which was offset by operating cost of $215,749.

17

Liquidity and Capital
Resources

The Company’s liquidity needs up to March
31, 2025 had been satisfied through a payment from the Sponsor of $25,000 for the Founder Shares to cover certain offering costs and the
proceeds from the public offering and private placements.

As of March 31, 2025, the
Company had cash of $273,472 and a working capital of $285,131.

For the three months
ended March 31, 2025, there was $259,534 of cash used in operating activities resulting from interest and dividend earned on cash
and investments held in trust account of $896,603, the increase in prepaid expenses of $44,631, and the decrease in due to related
parties. The changes were offset by net income of $680,854 and the increase in accounts payable and accrued expenses of $930.

For the three months ended
March 31, 2025, there was no investing nor financing activities.

We intend to use the funds
held outside the trust account to primarily identify and evaluate target businesses, perform business due diligence on prospective target
businesses, travel to and from the offices, plants or similar locations of prospective target businesses or their representatives or owners,
review corporate documents and material agreements of prospective target businesses, structure, negotiate and complete an initial business
combination.

In order to fund working
capital deficiencies or finance transaction costs in connection with an initial business combination, our directors, officers and the
sponsor (together, the “insiders”) or their affiliates or designees may, but are not obligated to, loan us funds as may be
required. If the Company completes the initial business combination, it would repay such loaned amounts. In the event that the initial
business combination does not close, we may use a portion of the working capital held outside the trust account to repay such loaned amounts
but no proceeds from the trust account would be used for such repayment. Up to $3,000,000 of such loans (the “Working Capital Loans”)
may be convertible into Units of the Company, at a price of $10.00 per Unit (the “Working Capital Units”) at the option of
the lender. As of March 31, 2025, the Company had no borrowings under the Working Capital Loans.

We do not believe