Company: PGACR
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-002878
Chunk: 13

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1
Chunk 13
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to be a large accelerated filer, which means the market value of our ordinary shares that are held by non-affiliates exceeds $700 million
as of the end of that year’s second fiscal quarter, and (2) the date on which we have issued more than $1.0 billion in non-convertible
debt securities during the prior three-year period.

Competition

In
identifying, evaluating and selecting a target business for our initial business combination, we have encountered, and expect to continue
to encounter, intense competition from other entities having a business objective similar to ours, including other blank check companies,
private equity groups, leveraged buyout funds, public companies and operating businesses seeking strategic acquisitions. Many of these
entities are well established and have extensive experience identifying and effecting initial business combinations directly or through
affiliates. Moreover, many of these competitors possess greater financial, technical, human and other resources than us. Our ability
to acquire larger target businesses will be limited by our available financial resources. This inherent competitive limitation gives
others an advantage in pursuing the acquisition of a target business. Furthermore, our obligation to pay cash in connection with our
public shareholders who exercise their redemption rights may reduce the resources available to us for our initial business combination
and potential future dilutions that our outstanding warrants represent, which may place us at a competitive disadvantage in successfully
negotiating an initial business combination.

Facilities

We
currently maintain our executive offices at 221 W 9th St, #859, Wilmington, Delaware 19801. We consider our current office space adequate
for our current operations.

Employees

We currently have two executive officers, our Chief Executive Officer
and Chairman, William W. Snyder, our Chief Financial Officer and Director, Jia Peng. The two individuals are not obligated to devote any
specific number of hours to our matters but they intend to devote as much of their time as they deem necessary to our affairs until we
have completed our initial business combination. The amount of time they will devote in any time period will vary based on the status
of the proposed Transactions and, if the proposed Transactions are not consummated, whether a target business has been selected for our
initial business combination and the stage of the initial business combination process we are in. We do not intend to have any full-time
employees prior to the completion of our initial business combination.

Item
1A. Risk Factors.

As a smaller reporting company,
we are not required to include risk factors