Company: PGACR
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-002878
Chunk: 85

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1A
Chunk 85
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500, and the proceeds from a promissory note to a related
party of $12,000. The changes were offset by the repayment of the promissory note to the sponsor of $294,976, the payment of the underwriters’
discount of $1,078,125, and the payment of IPO offering costs of $408,249.

For the period from May 31,
2024 (inception) through December 31, 2024, there was $86,250,000 of cash used in investing activities resulting from the purchase of
investment held in trust account.

For the period from May 31,
2024 (inception) through December 31, 2024, there was $86,923,150 of cash provided by financing activities resulting from the proceeds
of public offering of $86,250,000, the proceeds from private placement of $2,442,500, and the proceeds from promissory note to related
party of $12,000. The changes were offset by the repayment of promissory note to related party of $294,976, the payment of underwriter
discount of $1,078,125, and the payment of offering costs of $408,249.

We intend to use the funds
held outside the trust account to primarily identify and evaluate target businesses, perform business due diligence on prospective target
businesses, travel to and from the offices, plants or similar locations of prospective target businesses or their representatives or owners,
review corporate documents and material agreements of prospective target businesses, structure, negotiate and complete an initial business
combination.

In order to fund working
capital deficiencies or finance transaction costs in connection with an initial business combination, our directors, officers and the
sponsor (together, the “insiders”) or their affiliates or designees may, but are not obligated to, loan us funds as may be
required. If the Company completes the initial business combination, it would repay such loaned amounts. In the event that the initial
business combination does not close, we may use a portion of the working capital held outside the trust account to repay such loaned amounts
but no proceeds from the trust account would be used for such repayment. Up to $3,000,000 of such loans (the “Working Capital Loans”)
may be convertible into Units of the Company, at a price of $10.00 per Unit (the “Working Capital Units”) at the option of
the lender. As of December 31