Company: PGACR
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-002878
Chunk: 362

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-03-27
Form: 10-K
Item: Item 3
Chunk 362
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shareholders or members upon the holder’s liquidation, in each case if the holder is an entity, (iii) by bona fide gift to
a member of the holder’s immediate family or to a trust, the beneficiary of which is the holder or a member of the holder’s
immediate family, in each case for estate planning purposes, (iv) by virtue of the laws of descent and distribution upon death, (v) pursuant
to a qualified domestic relations order, (vi) to the Company for no value for cancellation in connection with the consummation of
a business combination, (vii) in connection with the consummation of a business combination, (viii) in the event of the Company’s
liquidation prior to its consummation of an initial business combination or (ix) in the event that, subsequent to the consummation
of an initial business combination, the Company completes a liquidation, merger, capital share exchange or other similar transaction which
results in all of the Company’s shareholders having the right to exchange their ordinary shares for cash, securities or other property,
in each case (except for clauses (vi), (viii) or (ix) or with the Company’s prior written consent). If dividends are declared
and payable in ordinary shares, such dividends will also be placed in lock-up. If we are unable to effect an initial business combination
and liquidate the trust account, none of our insiders will receive any portion of the liquidation proceeds with respect to their founder
shares.

24

Item
13. Certain Relationships and Related Transactions, and Director Independence.

Founder
Share Issuance

On June 14, 2024, our CEO,
Mr. William W. Snyder, our CFO, Ms. Jia Peng, and our sponsor, Aitefund Sponsor LLC, acquired an aggregate of 1,725,000 founder shares,
for an aggregate purchase price of $25,000. On July 9, 2024, an additional 431,250 founder shares were issued, at par value, to the sponsor,
for the purchase price of $43, resulting that the sponsor to hold 1,996,250 founder shares.

On
December 4, 2024, the effective date of the registration statement of the IPO, the sponsor transferred an aggregate of 60,000 of its
founder shares, or 20,000 each to its three independent directors for