Company: PGACR
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-002878
Chunk: 124

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1A
Chunk 124
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 or liabilities.

    ●
    Level 2 — Inputs to the fair value measurement are determined using prices for recently traded assets and liabilities with similar underlying terms, as well as direct or indirect observable inputs, such as interest rates and yield curves that are observable at commonly quoted intervals.

    ●
    Level 3 — Inputs to the fair value measurement are unobservable inputs, such as estimates, assumptions, and valuation techniques when little or no market data exists for the assets or liabilities.

The following table presents information about
the Company’s assets that are measured at fair value on December 31, 2024 and indicates the fair value hierarchy of the valuation
inputs the Company utilized to determine such fair value.

    December 31, 2024 
    Carrying Value  
    Quoted Prices in Active Markets (Level 1)  
    Significant Other Observable Inputs  (Level 2)  
    Significant Other Unobservable Inputs  (Level 3) 
  
    Assets: 

    Investment held in Trust Account 
    $86,518,878  
    $86,518,878  
    $       -  
    $        - 
  
    Total 
    $86,518,878  
    $86,518,878  
    $-  
    $- 

The rights were valued, using a calculation prepared by management
which takes into consideration the probability of completion of the IPO, an implied probability of the completion of an initial business
combination and a Discount for Lack of Marketability calculation. The rights are classified as Level 3 at the measurement date due to
the use of unobservable inputs including the probability of an initial business combination, the probability of the initial public offering,
and other risk factors.

Class A ordinary shares subject to possible
redemption

The Company accounts for its Class A ordinary shares subject to
possible redemption in accordance with the guidance in ASC Topic 480, “Distinguishing Liabilities from Equity” (ASC 480).
Ordinary shares subject to mandatory redemption (if any) will be classified as a liability instrument and will be measured at fair value.
Conditionally redeemable ordinary shares (including ordinary shares that features redemption rights that are either within the control
of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control) will be
classified as temporary equity. At all other times, ordinary shares will be classified as shareholders’ equity. In accordance with
ASC