Company: PGACR
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001213900-25-108205
Chunk: 151

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-11-10
Form: 10-Q
Item: Part II, Item 1
Chunk 151
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ITEM
1. LEGAL PROCEEDINGS.

We
are not a party to any material legal proceedings and no material legal proceedings have been threatened by us or, to the best of our
knowledge, against us.

ITEM
1A. RISK FACTORS.

As
a smaller reporting company, we are not required to include risk factors in this Report. However, factors that could cause our actual
results to differ materially from those in this Quarterly Report are any of the risks described in our Prospectus. Any of these factors
could result in a significant or material adverse effect on our results of operations or financial condition. Additional risk factors
not presently known to us or that we currently deem immaterial may also impair our business or results of operations. As of the date
of this Quarterly Report, there have been no material changes to the risk factors disclosed in our Prospectus.

ITEM
2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS FROM REGISTERED SECURITIES.

Founder
Shares Sales and Transfer

On
June 14, 2024, our CEO, Mr. William W. Snyder, our CFO, Ms. Jia Peng, and the sponsor (the “sponsor”) of our IPO (as defined
below), Aitefund Sponsor LLC, acquired an aggregate of 1,725,000 Class B ordinary shares, par value of $0.0001 each (the “founder
shares”), for an aggregate purchase price of $25,000. On July 9, 2024, an additional 431,250 founder shares were issued, at par
value, to the sponsor, for the purchase price of $43, resulting that the sponsor to hold 1,996,250 founder shares.

On
December 4, 2024, the effective date of the registration statement of the IPO (as defined below), the sponsor transferred an aggregate
of 60,000 of its founder shares, or 20,000 each to its three independent directors for their board service, for nominal cash consideration,
of $696.

Private
Placement

On
December 6, 2024, simultaneously with the closing of the IPO, the Company completed a private placement (the “Private Placement”)
of 244,250 private placement units to the Company’s sponsor, at a purchase price of $10.00 per private placement units, generating
gross proceeds to the Company of $2,442,500.

The
above sales were