Company: PGACR
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001213900-25-108205
Chunk: 54

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 8
Chunk 54
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, and public shares in connection with a shareholder vote to approve an amendment to the Company’s amended and restated articles
of association (A) to modify the substance or timing of our obligation to allow redemption in connection with the initial business
combination or to redeem 100% of the public shares if the Company does not complete its initial business combination within 15 months
from the closing of this offering (or up to 18 months, if extended) or (B) with respect to any other provision relating to
shareholders’ rights or pre-initial business combination activity.

The
Sponsor has agreed that it will be liable to the Company if and to the extent any claims by a third party for services rendered or products
sold to the Company, or a prospective target business with which the Company has entered into a written letter of intent, confidentiality
or similar agreement or business combination agreement, reduce the amount of funds in the Trust Account to below the lesser of (i) $10.00
per public share and (ii) the actual amount per public share held in the Trust Account as of the date of the liquidation of the
Trust Account, if less than $10.00 per share due to reductions in the value of the trust assets, less taxes payable, provided that such
liability will not apply to any claims by a third party or prospective target business who executed a waiver of any and all rights to
the monies held in the Trust Account (whether or not such waiver is enforceable) nor will it apply to any claims under the Company’s
indemnity of the underwriters of this offering against certain liabilities, including liabilities under the Securities Act. However,
the Company has not asked the Sponsor to reserve for such indemnification obligations, nor have the Company independently verified whether
the Company’s Sponsor has sufficient funds to satisfy its indemnity obligations and believe that the Sponsor’s only assets
are securities of the company. Therefore, it cannot be assured that the Sponsor would be able to satisfy those obligations. None of the
officers or directors will indemnify the Company for claims by third parties including, without limitation, claims by vendors and prospective
target businesses.

6

Going
Concern Consideration

As
of September 30, 2025, the Company had $349,018 cash and a working capital deficit of $117,878. The Company expects to incur significant
professional costs to remain as a publicly traded company and to incur significant transaction costs in pursuit of the