Company: PGACR
Filing Date: 2025-07-07
Form Type: PRE 14A
Source: 0001213900-25-061834
Chunk: 13

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-07-07
Form: PRE 14A
Chunk 13
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 Foreign Asset Control (OFAC) within the Department
of Treasury, could result in increased scrutiny of transactions involving companies controlled by foreign adversaries or incorporated
in those jurisdictions.

Although we have identified general criteria and guidelines for evaluating
prospective target businesses, we may seek to complete a business combination with an operating company of any size (subject to our satisfaction
of the 80% of net assets test) and in any industry, sector or geography. As of the date hereof, we have not identified any particular
target that may be subject to the Outbound Investment Review Regime, and we may not identify or seek to engage in a business combination
with any target that may be subject to the Outbound Investment Review Regime in the future.

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Certain parts of the Outbound Investment Review Rules are highly technical
and may require a subject company to engage in third-party experts or consultants to evaluate and advise on the application and scope
of the rules to a particular transaction. Besides, the rules outright prohibited certain types of transactions while subject others to
a screening process, and violations of the rules may give rise to potentially stiff administrative, civil or criminal penalties. Therefore,
given the novelty, recentness and complexity of the Outbound Investment Review Rules, there is significant uncertainties as to how the
Outbound Investment Review Rules will be implemented. The uncertainties over the scope and implementation of the rules may limit the potential
pools of targets for our business combination search, given that some target businesses may no longer seek U.S. investment or public
listing in the U.S., notwithstanding the applicability of the rules over their business. Our management may also significant curtail our
search of any target that are incorporated in or with substantial operations in a subject jurisdiction or subject industry, notwithstanding
the reach of the rules.

However, while we will not engage in a prohibited transaction under
the Outbound Investment Review Regime, in the case that we proceed with a business combination that could fall within Outbound Investment
Review Rules’ jurisdiction or becomes a notifiable transaction, we may be required to make a mandatory filing, determine to submit
a voluntary notice to the Treasury Department, or seek independent expert opinion or report to advise us on the applicability of the relevant
rules. In addition, the Treasury Department may decide to block or delay our initial business combination, impose conditions to mitigate
national security concerns with respect to such initial business combination or order us to divest all or a portion of a U.S