Company: PGACR
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-075873
Chunk: 10

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 10
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with respect to any other provision relating to shareholders’ rights or pre-initial business combination
activity.

6

The Sponsor has agreed that it will be liable to the Company if and
to the extent any claims by a third party for services rendered or products sold to the Company, or a prospective target business with
which the Company has entered into a written letter of intent, confidentiality or similar agreement or business combination agreement,
reduce the amount of funds in the Trust Account to below the lesser of (i) $10.00 per public share and (ii) the actual amount
per public share held in the Trust Account as of the date of the liquidation of the Trust Account, if less than $10.00 per share due to
reductions in the value of the trust assets, less taxes payable, provided that such liability will not apply to any claims by a third
party or prospective target business who executed a waiver of any and all rights to the monies held in the Trust Account (whether or not
such waiver is enforceable) nor will it apply to any claims under the Company’s indemnity of the underwriters of this offering against
certain liabilities, including liabilities under the Securities Act. However, the Company has not asked the Sponsor to reserve for such
indemnification obligations, nor have the Company independently verified whether the Company’s Sponsor has sufficient funds to satisfy
its indemnity obligations and believe that the Sponsor’s only assets are securities of the company. Therefore, it cannot be assured
that the Sponsor would be able to satisfy those obligations. None of the officers or directors will indemnify the Company for claims by
third parties including, without limitation, claims by vendors and prospective target businesses.

Going Concern Consideration

As of June 30, 2025, the Company had $294,644
cash and a working capital of $107,405. The Company expects to incur significant professional costs to remain as a publicly traded company
and to incur significant transaction costs in pursuit of the consummation of an initial business combination. In connection with the
Company’s assessment of going concern considerations in accordance with the Financial Accounting Standards Board (“FASB”)
Accounting Standards Update (“ASU”) 2014-15, “Disclosures of Uncertainties about an Entity’s Ability to Continue
as a Going Concern,” management has determined that these conditions raise substantial doubt about the Company’s ability
to continue as a going concern. Management’s plan in addressing this uncertainty is through the borrowing of