Company: PGACR
Filing Date: 2025-07-17
Form Type: DEF 14A
Source: 0001213900-25-064856
Chunk: 13

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-07-17
Form: DEF 14A
Chunk 13
---
, civil or criminal penalties. Therefore, given the novelty, recentness and complexity of the Outbound Investment Review Rules, there is significant uncertainties as to how the Outbound Investment Review Rules will be implemented. The uncertainties over the scope and implementation of the rules may limit the potential pools of targets for our business combination search, given that some target businesses may no longer seek U.S. investment or public listing in the U.S., notwithstanding the applicability of the rules over their business. Our management may also significant curtail our search of any target that are incorporated in or with substantial operations in a subject jurisdiction or subject industry, notwithstanding the reach of the rules. 4 However, while we will not engage in a prohibited transaction under the Outbound Investment Review Regime, in the case that we proceed with a business combination that could fall within Outbound Investment Review Rules’ jurisdiction or becomes a notifiable transaction, we may be required to make a mandatory filing, determine to submit a voluntary notice to the Treasury Department, or seek independent expert opinion or report to advise us on the applicability of the relevant rules. In addition, the Treasury Department may decide to block or delay our initial business combination, impose conditions to mitigate national security concerns with respect to such initial business combination or order us to divest all or a portion of a U.S. business of the combined company if we had proceeded without first obtaining its clearance. The foreign ownership limitations, and the potential impact of CFIUS, may limit the attractiveness of a transaction with us or prevent us from pursuing certain initial business combination opportunities that we believe would otherwise be beneficial to us and our shareholders. As a result, the pool of potential targets with which we could complete an initial business combination may be limited and we may be adversely affected in terms of competing with other special purpose acquisition companies which do not have similar foreign ownership issues. Moreover, the process of government review could be lengthy. We may be forced to expend significant financial resources to seek third party expert opinion or report, or to secure regulatory clearance. Because we only have 15 months (or up to 18 months, as applicable) to complete our initial business combination, our failure to obtain any required approvals within the requisite time period may prevent us from completing the transaction and require us to liquidate. If we liquidate, our public shareholders may only receive $10.00 per ordinary share initially, and our rights will expire worthless. Our public shareholders may also lose the potential investment opportunity in a target company and the opportunity of realizing future gains on such investments through