Company: PGACR
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-002878
Chunk: 568

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-03-27
Form: 10-K
Item: Item 6
Chunk 568
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 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 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 December 31, 2024, the Company had $533,006
cash and a working capital of $500,880. 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 Working Capital Loans, as defined
below (see Note 5). In addition, if the Company is unable to complete an initial business combination within the Combination Period by
March 6, 2026, unless further extended, the Company’s board of directors would proceed to commence a voluntary liquidation and thereby
a formal dissolution of the Company. There is no assurance that the Company’s plans to consummate an initial business combination
will be successful within the Combination Period. As