Company: PGACR
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044013
Chunk: 148

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 148
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 shares outstanding for the period. Remeasurement of carrying value to redemption value of redeemable
ordinary shares is excluded from income per share as the redemption value approximates fair value. For the three months ended March 31,
2025, the Company has not considered the effect of the Rights included in the IPO and Private Placement Units in the calculation of diluted
net income per share, since the conversion of the Rights is contingent upon the occurrence of future events and the inclusion of such
Rights would be anti-dilutive and the Company did not have any other dilutive securities and other contracts that could, potentially,
be exercised or converted into ordinary shares and then share in the earnings of the Company. As a result, diluted income per share is
the same as basic income per share for the period presented.

    For The 
Three Months 
Ended  March 31, 2025 

    Non-Redeemable 

    Redeemable Class A  
    Class A and Class B 

    Ordinary Shares  
    Ordinary Shares 
  
    Basic and diluted net income per ordinary share: 

    Numerators: 

    Allocation of net income 
    $532,617  
    $148,237 
  
    Denominators: 

    Basic and diluted weighted average shares outstanding 
     8,625,000  
     2,400,500 
  
    Basic and diluted net income per ordinary share 
    $0.06  
    $0.06 

Fair Value of Financial Instruments

The fair value of the Company’s assets and
liabilities, which qualify as financial instruments under FASB ASC 820, “Fair Value Measurements and Disclosures,” approximates
the carrying amounts represented in the accompanying balance sheet, primarily due to their short-term nature.

The Company applies ASC 820, which establishes
a framework for measuring fair value and clarifies the definition of fair value within that framework. ASC 820 defines fair value as an
exit price, which is the price that would be received for an asset or paid to transfer a liability in the Company’s principal or
most advantageous market in an orderly transaction between market participants on the measurement date. The fair value hierarchy established
in ASC 820 generally requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring
fair value. Observable inputs reflect the assumptions that market participants would use in pricing the asset or liability and are developed
based on market data obtained