Company: PGACR
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001213900-25-108205
Chunk: 74

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 8
Chunk 74
---
. On December 6, 2024, a total of
$86,250,000 of the net proceeds from the IPO and the Private Placement was deposited in a trust account (the “trust account”)
established for the benefit of the Company’s Public Shareholders at a U.S. based trust account, with Wilmington Trust, N.A., acting
as trustee.

15

Since
our IPO, our sole business activity has been identifying, evaluating suitable acquisition transaction candidates and preparing for consummation
of an initial business combination. We presently have no revenue and have had losses since inception from incurring formation and operating
costs. We have relied upon the sale of our securities and loans from the sponsor and other parties to fund our operations.

The
sales of the Private Placement Units issued pursuant to the exemption from registration contained in Section 4(a)(2) of the
Securities Act. No commissions were paid in connection with such sales.

Separation
of Units

On
January 23, 2025, the Company announced that holders of the Company’s Public Units may elect to separately trade the Public Shares
and Public Rights from the Public Units, commencing on or about January 27, 2025.

The
Class A ordinary shares and rights were traded on the Nasdaq Global Market (“Nasdaq”) under the symbols “SPHA”
and “SPHAR”, respectively. Units not separated continued to trade on Nasdaq under the symbol “SPHAU.”

First
Name Change

On
March 11, 2025, the Company held an extraordinary general meeting (the “First Shareholder Meeting”).

At
the First Shareholder Meeting, the shareholders of the Company, by special resolution, approved the proposal to amend Company’s
amended and restated memorandum and articles of associations (the “AR MAA”) to change the Company’s name from “Shepherd
Ave Capital Acquisition Corporation” to “Aifeex Nexus Acquisition Corporation” (the “First Name Change”).

Promptly
following the approval, the Company filed a Second Amended and Restated Memorandum and Articles of Association (the “2nd
AR MAA”) with the Cayman Islands Companies Register to effect the First Name Change. In connection with the First Name Change,
the Company’s ticker symbols for its units, ordinary shares and rights changed from “SPHAU”, “SPHA”, “SPHAR”,
in each case to “AIFEU”, “AIFE