Company: PGACR
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001213900-25-108205
Chunk: 53

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 8
Chunk 53
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 the “Combination Deadline”.

The
Company will provide its public shareholders with the opportunity to redeem all or a portion of their public shares upon the completion
of the initial business combination either (i) in connection with a shareholder meeting called to approve the initial business combination
or (ii) by means of a tender offer.

The
ordinary shares subject to redemption will be accredited to the redemption value and classified as temporary equity upon the completion
of the IPO, in accordance with Accounting Standards Codification (“ASC”) Topic 480 “Distinguishing Liabilities
from Equity.” The Company has determined not to consummate any initial business combination unless the Company has net tangible
assets of at least $5,000,001 upon such consummation in order to avoid being subject to Rule 419 promulgated under the Securities
Act.

If
the Company does not complete its initial business combination by the Combination Deadline, the Company will: (i) cease all operations
except for the purpose of winding up, (ii) as promptly as reasonably possible but no more than ten business days thereafter,
redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account,
including interest earned on the funds held in the Trust Account and not previously released to the Company to pay taxes that were paid
by the Company or are payable by the Company, if any (less up to $100,000 of interest generated from the funds held in the Trust Account
to pay dissolution expenses) divided by the number of the then-issued and outstanding public shares, which redemption will completely
extinguish public shareholders’ rights as shareholders (including the right to receive further liquidation distributions, if any);
and, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of its remaining shareholders
and its board of directors, liquidate and dissolve, subject in each case to its obligations under Cayman Islands law to provide for claims
of creditors and the requirements of other applicable law. time). The Sponsor and each member of management team have entered into an
agreement with the Company, pursuant to which they have agreed to waive their redemption rights with respect to any founder shares, Class
A ordinary shares underlying the Private Placement Units (the “private shares”), and any public shares held by them in connection
with the completion of the initial business combination and to waive their redemption rights with respect to their founder shares, private
shares