Company: PGACR
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-002878
Chunk: 1025

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-03-27
Form: 10-K
Item: Item 10
Chunk 1025
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 entities will be required to provide all annual disclosures currently required by Topic 280 in interim periods, and entities
with a single reportable segment are required to provide all the disclosures required by the amendments in this ASU and existing
segment disclosures in Topic 280. This ASU is effective for fiscal years beginning after December 15, 2023, and interim
periods within fiscal years beginning after December 15, 2024, with early adoption permitted. We adopted this ASU for
the year ended December 31, 2024 and there was no material effect on our financial statements.

Management does not believe that any recently
issued, but not effective, accounting standards, if currently adopted, would have a material effect on the Company’s financial statements.

Note 3 — Initial Public
Offering

On December 6, 2024, the Company sold 8,625,000 Units (including 1,125,000
Units issued upon the full exercise of the Over-Allotment Option) in its IPO. Each Unit has an offering price of $10.00 and consists of
one share of the Company’s Class A ordinary share and one right. Each right entitles the holder thereof to receive one-fifth
of one Class A ordinary share upon completion of the Company’s initial business combination. The Company will not issue fractional
shares. As a result, the holder must hold rights in multiples of 5 in order to receive shares for all of their rights upon closing of
an initial business combination.

Note 4 — Private Placement

Simultaneously with the closing
of the IPO, the Sponsor purchased an aggregate of 244,250 Units at a price of $10.00 per Unit for an aggregate purchase
price of $2,442,500 in the Private Placement. Each Private Placement Units was identical to the Units sold in the IPO, except that
it will not be redeemable, transferable, assignable or salable by the Sponsor until the completion of its initial business combination
(except to certain permitted transferees).

Note 5 — Related Party
Transactions

Founder shares

On June 14, 2024, the Company’s CEO,
Mr. William W. Snyder, the Company’s CFO, Ms. Jia Peng, and the sponsor, Aitefund Sponsor LLC, acquired an aggregate of
1,725,000 shares of Class B ordinary shares