Company: PGACR
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-075873
Chunk: 24

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 24
---
ations, voting and other rights
and preferences as may be determined from time to time by the Company’s board of directors. As of June 30, 2025 and December 31,
2024, there were no preference shares issued or outstanding.

Class A Ordinary Share — The
Company is authorized to issue 445,000,000 shares of Class A ordinary share with $0.0001 par value. As of June 30, 2025 and December
31, 2024, there were 244,250 shares of Class A ordinary share issued or outstanding, excluding
8,625,000 Class A ordinary shares subject to possible redemption.

Class B Ordinary Share — The
Company is authorized to issue 50,000,000 shares of Class B ordinary share with $0.0001 par value. On June 14, 2024, the Company
issued an aggregate of 1,725,000 founder shares to the Sponsor and executives for an aggregate purchase price of $25,000. On July 9,
2024, the Company issued additional 431,250 Class B ordinary shares to the Sponsor for $43. In total, an aggregate 2,156,250 Class B
ordinary shares were issued to the Sponsor and executives, at a per-share price of approximately $0.012 per share. The Company’s
insiders will collectively own 20.0% of the Company’s issued and outstanding shares of ordinary share after the IPO.

Rights

As of June
30, 2025 and December 31, 2024, there were 8,625,000 public rights included the public Units outstanding and 244,250 private
rights included in the Private Placement Units outstanding. Except in cases where the Company is not the surviving company
in an initial business combination, each holder of a right will automatically receive one-fifth of one Class A ordinary share upon
consummation of the Company’s initial business combination. In the event the Company will not be the surviving company upon completion
of the Company’s initial business combination, each right will automatically be converted to receive the kind and amount of securities
or properties of the surviving entity that each one-fifth of one Class A ordinary share underlying each right is entitled to upon
consummation of the initial business combination subject to any dissenter rights under the applicable law. The Company will not issue
fractional shares in connection with a conversion