Company: PGACR
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044013
Chunk: 157

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 157
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 required by its amended and restated memorandum
and articles of association effective at the time, the underwriters have agreed that (i) they will forfeit any rights or claims to
their deferred underwriting discounts and commissions, including any accrued interest thereon, then in the trust account, and (ii) that
the deferred underwriters’ discounts and commissions will be included with the funds held in the Trust Account that will be available
to fund the redemption of our public shares.

As of March 31, 2025 and December 31, 2024, deferred
underwriting discounts and commissions amounted to $862,500 payable upon consummation of the Company’s initial business combination.

Note 7 — Shareholder’s
Equity

Preference Share — The
Company is authorized to issue 5,000,000 shares of preference share, $0.0001 par value, with such designations, voting and other rights
and preferences as may be determined from time to time by the Company’s board of directors. As of March 31, 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 March 31, 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.

14

Rights

As of March