Company: PGACR
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-002878
Chunk: 133

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1A
Chunk 133
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 for an aggregate purchase price of $25,000. On July 9, 2024, the Company issued additional 431,250 Class B
ordinary shares to the Sponsor for $43. In total, an aggregate 2,156,250 Class B ordinary shares were issued to the Sponsor and executives,
at a per-share price of approximately $0.012 per share. The Company’s insiders will collectively own 20.0% of the Company’s
issued and outstanding shares of ordinary share after the IPO.

Rights

As of December 31, 2024, there
were 8,625,000 public rights included the public Units outstanding and 244,250 private rights included in the Private Placement
Units outstanding. Except in cases where the Company is not the surviving company in an initial business combination, each
holder of a right will automatically receive one-fifth of one Class A ordinary share upon consummation of the Company’s initial
business combination. In the event the Company will not be the surviving company upon completion of the Company’s initial business
combination, each right will automatically be converted to receive the kind and amount of securities or properties of the surviving entity
that each one-fifth of one Class A ordinary share underlying each right is entitled to upon consummation of the initial business
combination subject to any dissenter rights under the applicable law. The Company will not issue fractional shares in connection with
a conversion of rights. Fractional shares will either be rounded down to the nearest whole share or otherwise addressed in accordance
with the applicable provisions of the Companies Act and any other applicable Cayman Islands law. As a result, you must hold rights in
multiples of five in order to receive shares for all of your Class A ordinary shares underlying the rights upon closing of an initial
business combination. If the Company is unable to complete an initial business combination within the required time period and the Company
redeem the public shares for the funds held in the Trust Account, holders of rights will not receive any of such funds for their rights
and the rights will expire worthless. The Company shall reserve such amount of its profits or share premium in order to pay up the par
value of each share issuable in respect of the rights.

Note 8 — Segment Information

ASC Topic
280, “Segment Reporting,” establishes standards for companies to report in their financial statement information about operating
segments, products, services, geographic areas, and major customers. Operating segments are defined