Company: PGACR
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-002878
Chunk: 119

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1A
Chunk 119
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 founder shares, Class A ordinary shares underlying the Private Placement Units (the
“private shares”), and any public shares held by them in connection with the completion of the initial business combination
and to waive their redemption rights with respect to their founder shares, private shares, 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.

F-8

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 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.

Going Concern Consideration

As of December 31,