Company: PGACR
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-002878
Chunk: 1255

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-03-27
Form: 10-K
Item: Item 16
Chunk 1255
---
  (Level 2)  
    Significant Other Unobservable Inputs  (Level 3) 
  
    Assets: 

    Investment held in Trust Account 
    $86,518,878  
    $86,518,878  
    $       -  
    $        - 
  
    Total 
    $86,518,878  
    $86,518,878  
    $-  
    $- 

The rights were valued, using a calculation prepared by management
which takes into consideration the probability of completion of the IPO, an implied probability of the completion of an initial business
combination and a Discount for Lack of Marketability calculation. The rights are classified as Level 3 at the measurement date due to
the use of unobservable inputs including the probability of an initial business combination, the probability of the initial public offering,
and other risk factors.

Class A ordinary shares subject to possible
redemption

The Company accounts for its Class A ordinary shares subject to
possible redemption in accordance with the guidance in ASC Topic 480, “Distinguishing Liabilities from Equity” (ASC 480).
Ordinary shares subject to mandatory redemption (if any) will be classified as a liability instrument and will be measured at fair value.
Conditionally redeemable ordinary shares (including ordinary shares that features redemption rights that are either within the control
of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control) will be
classified as temporary equity. At all other times, ordinary shares will be classified as shareholders’ equity. In accordance with
ASC 480-10-S99, the Company classifies the Class A ordinary shares subject to redemption outside of permanent equity as the
redemption provisions are not solely within the control of the Company. Given that the 8,625,000 Class A ordinary shares sold as
part of the Public Units in the IPO were issued with other freestanding instruments (i.e., rights), the initial carrying value of
Class A ordinary shares classified as temporary equity has been allocated to the proceeds determined in accordance with ASC 470-20.
If it is probable that the equity instrument will become redeemable, the Company has the option to either (i) accrete changes in
the redemption value over the period from the date of issuance (or from the date that it becomes probable that the instrument will become
redeemable, if later) to the earliest redemption