Company: PGACR
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-002878
Chunk: 106

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1A
Chunk 106
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2024, our sponsor had agreed to loan us an aggregate of
up to $500,000 to be used to pay formation expenses and a portion of the expenses of this offering. Immediately before the IPO, we had
borrowed $295,019 under the loan. The loan was payable without interest on the earlier of (i) December 31, 2024 and (ii) date on which
we consummate our initial public offering. We intended to repay this loan from the proceeds of this offering not being placed in the Trust
Account. If we determined not to proceed with the offering, such amounts would not be repaid. The loan was repaid in full on December
6, 2024, from the proceeds of the offering not being placed in the trust account.

25

Offer
Letters With Management

We have offered to and our Chairman and CEO has accepted an offer letter,
dated June 14, 2024, which provides that Mr. Snyder shall receive a monthly cash compensation of $7,500 among from the
date of the offer letter until the earlier of (i) the termination of the offer letter; (ii) the date that the Company consummates
an initial business combination; (iii) the date the Company is wound up; or (iv) the date that he vacates his positions or he
is removed or disqualified from his positions pursuant to the Company’s memorandum and articles of association.

We have also offered to and our CFO has accepted an offer letter, dated
May 25, 2024, which provides that Ms. Jia shall receive a monthly cash compensation of $5,000 among from the date of the offer
letter until the earlier of (i) the termination of the offer letter; (ii) the date that the Company consummates an initial business
combination; (iii) the date the Company is wound up; or (iv) the date that he vacates his positions or he is removed or disqualified
from his positions pursuant to the Company’s memorandum and articles of association.

Other than as set forth elsewhere in this report, none of our executive
officers or directors have received any cash compensation for services rendered to us. Our insiders, or their respective affiliates will
be reimbursed for any out-of-pocket expenses incurred in connection with activities on our behalf such as identifying potential target
businesses and performing due diligence on suitable initial business combinations. Our audit committee will review on a quarterly basis