Company: PGACR
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001213900-25-108205
Chunk: 21

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 21
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 the balance was repaid.
There is no balance as of September 30, 2025 and December 31, 2024.

Working
Capital Loans — Related Party

In
addition, in order to meet the Company’s working capital needs following the consummation of the initial public offering if the
funds not held in the Trust 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 September 30, 2025 and December 31, 2024, the Company had $457,500   and $0 borrowings under the Working Capital Loans, respectively.

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.

As
of September 30, 2025 and December 31, 2024, the Company had accrued compensation expense of $0 and $14,300 for Jia Peng, respectively.

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 September 30, 2025 and December 31,