Company: PGACR
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001213900-25-108205
Chunk: 20

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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 in connection with any such vote (regardless how such shareholders vote for such
amendment), (C) not to redeem any founder shares and private shares (as well as any other shares acquired in or after this offering)
for cash from the Trust Account in connection with a shareholder vote to approve our proposed initial business combination (or sell any
shares they hold to us in a tender offer in connection with a proposed initial business combination) or a vote to amend the provisions
of our memorandum and articles of association effective at the time relating to shareholders’ rights or pre-initial business combination
activity and (D) that the founder shares and private shares shall not participate in any liquidating distribution upon winding up
if an initial business combination is not consummated. 

11

The
insiders have agreed not to transfer, assign or sell any of the founder shares (except to certain permitted transferees) until (1) with
respect to 50% of the founder shares, the earlier of six months after the date of the consummation of the Company’s initial
business combination and the date on which the closing price of the Company’s ordinary shares equals or exceeds $12.50 per share
(as adjusted for share subdivisions, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days
within any 30-trading day period commencing after the Company’s initial business combination and (2) with respect to
the remaining 50% of the founder shares, six months after the date of the consummation of the Company’s initial business combination,
or earlier, in either case, if, subsequent to the Company’s initial business combination, the Company consummate a liquidation,
merger, share exchange or other similar transaction which results in all of the Company’s shareholders having the right to exchange
their ordinary shares for cash, securities or other property.

The
Private Placement Units (including the underlying securities) will not be transferable, assignable or saleable until the completion
of the Company’s initial business combination (except to certain permitted transferees).

Promissory
Note — Related Party

On
June 14, 2024, the sponsor has agreed to loan the Company up to $500,000 (the “Promissory Note”) to be used for a portion
of the expenses of the IPO. Immediately before the IPO, the Company had an outstanding loan balance of $295,019 and