Company: PGACR
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-002878
Chunk: 80

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1A
Chunk 80
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,” “SPHA,” and “SPHAR,”
respectively. Our units commenced public trading on December 5, 2024, and our Class A ordinary shares and rights commenced separate public
trading on January 27, 2025. On March 12, 2025, the symbols for our units, ordinary shares and rights changed from “SPHAU”,
“SPHA”, “SPHAR”, in each case to “AIFEU”, “AIFE”, and “AIFER,” all of which
continue to be traded on the Nasdaq Stock Market LLC.

Holders

On December 31, 2024, there
were 2 holders of record of our units, 1 holder of record of our Class A ordinary shares, 1 holder of record of our rights, and 6 holders
of record of our Class B ordinary shares.

Securities
Authorized for Issuance Under Equity Compensation Plans

None.

Recent
Sales of Unregistered Securities

Unregistered
Sales of Equity Securities

Founder
Shares Sales and Transfer

On June 14, 2024, our CEO,
Mr. William W. Snyder, our CFO, Ms. Jia Peng, and the sponsor (the “sponsor”) of our IPO (as defined below), Aitefund Sponsor
LLC, acquired an aggregate of 1,725,000 Class B ordinary shares, par value of $0.0001 each (the “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 (as defined below), the sponsor transferred an aggregate of 60,000 of its founder
shares, or 20,000 each to its three independent directors for their board service, for nominal cash consideration, of $696.

Private Placement

On December 6, 2024, simultaneously
with the closing of the IPO, the Company completed a private placement (the “Private Placement”) of 244,250 private placement
units to the Company’s sponsor, at a purchase price of $10.00 per private placement units, generating gross proceeds to the Company
of $2,442,500.

The