Company: PGACR
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001213900-25-108205
Chunk: 51

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 8
Chunk 51
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 the “Units”). Each Unit consists of one Class A ordinary share (the “Class
A ordinary share”), $0.0001 par value per share (collectively, the “public shares”), and one right to receive of one-fifth of
one Class A ordinary share upon the completion of the initial business combination of the Company. The Units were sold at an offering
price of $10.00 per Unit, generating total gross proceeds of $86,250,000.

Simultaneously
with the consummation (the “closing”) of the IPO and the sale of the Units, the Company consummated the Private Placement
of 244,250 units (the “Private Placement Units”) to the Sponsor, at a price of $10.00 per Private Placement Unit, generating
total proceeds of $2,442,500, which is described in Note 4. Each Private Placement Unit consists of one Class A ordinary share, and one
right to receive of one-fifth of one Class A ordinary share upon the completion of the initial business combination.

Transaction
costs amounted to $2,528,729, consisting of $1,078,125 of underwriting commissions which was paid in cash at the closing date of the
IPO, $862,500 of deferred underwriting commissions, and $588,104 of other offering costs. At the IPO date, cash of $941,835 was
held outside of the Trust Account (as defined below) and is available for the payment of accrued offering costs and for working capital
purposes.

The
Company’s initial business combination must occur with one or more target businesses that together have an aggregate fair market
value of at least 80% of the value of the Trust Account (excluding any deferred underwriters’ fees and taxes payable on the income
earned on the Trust Account) at the time of the agreement to enter into the initial business combination. The Company will complete its
initial business combination only if the post-transaction company in which its public shareholders own shares will own or acquire 50%
or more of the outstanding voting securities of the target or otherwise acquires a controlling interest in the target sufficient for
it not to be required to register as an investment company under the Investment Company Act of 1940, as amended (the “Investment
Company Act”). There is no assurance that the Company will be able to complete an initial business combination successfully.

5

Upon
the closing of the IPO, management has agreed