Company: PGACR
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-002878
Chunk: 325

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-03-27
Form: 10-K
Item: Item 2
Chunk 325
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 Account are insufficient, or to extend its
life, its insiders, officers and directors or their affiliates/designees may, but are not obligated to, loan the Company funds, from time
to time or at any time, in whatever amount they deem reasonable in their sole discretion. Each loan would be evidenced by a promissory
note. The notes would either be paid upon consummation of the Company’s initial business combination, without interest, or, at the
lender’s discretion, up to $3,000,000 of the notes (“Working Capital Loans”) may be converted upon consummation of the
Company’s initial business combination into Working Capital Units at a price of $10.00 per Unit. If the Company do not complete
an initial business combination, the loans would be repaid out of funds not held in the Trust Account, and only to the extent available.

As of December 31, 2024, the Company had no borrowings
under the Working Capital Loans.

F-15

Due to Related Parties

On June 6, 2024, the Company appointed Jia Peng as Chief Financial
Officer, in addition to the current position as a member of the board of the directors. During the Term as Chief Financial Officer and
a member of board of directors of the Company, Jia Peng will receive cash compensation in the amount of $5,000, payable each month. Jia
Peng also paid office expenses on behalf of the Company during the period from May 31, 2024 (inception) through December 31, 2024.

As of December 31, 2024, the Company had accrued
expenses for Jia Peng of $14,300.

On June 14, 2024, the Company appointed William Snyder as Chairman
and Chief Executive Officer, in addition to the current position as a member of the board of the directors. During the Term as Chairman
and Chief Executive Officer and a member of board of directors of the Company, William Snyder will receive cash compensation in the amount
of $7,500, payable each month.

As of December 31, 2024, the Company had accrued
compensation expenses for William Snyder of $18,750.

Evan Graj, a Director of the Company, paid office
expenses on behalf of the Company during the period from May 31, 2024 (inception) through December 31, 2024.

As of December 31,