Company: PGACR
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-075873
Chunk: 48

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 48
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PANTAGES CAPITAL ACQUISITION CORPORATION

(FORMERLY KNOWN AS AIFEEX NEXUS ACQUISITION
CORPORATION)

NOTES TO UNAUDITED FINANCIAL STATEMENTS

Note 1 — Organization,
Business Operation and Going Concern Consideration

Pantages Capital Acquisition Corporation (the
“Company”, formerly known as “Aifeex Nexus Acquisition Corporation” and “Shepherd Ave Capital Acquisition
Corporation”) is a blank check company incorporated in the Cayman Islands on May 31, 2024 as an exempted company with limited
liability. The Company was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, recapitalization,
reorganization or similar business combination involving the Company, with one or more businesses or entities (the “initial business
combination”). The Company’s efforts to identify a prospective target business will not be limited to a particular industry
or geographic location. The Company has elected December 31 as its fiscal year end.

As of June 30, 2025, the Company had not commenced
any operations. For the period from May 31, 2024 (inception) through June 30, 2025, the Company’s efforts have been limited to organizational
activities, activities related to the initial public offering (“IPO”, see Note 3), and search for target for business
combination. The Company will not generate any operating revenues until after the completion of an initial business combination, at the
earliest. The Company will generate non-operating income in the form of dividend and/or interest income from the proceeds derived from
the IPO and Private Placement (“Private Placement”, see Note 4).

The Company’s management has broad discretion
with respect to the specific application of the net proceeds of the IPO and the sale of the Private Placements Units (as defined below),
although substantially all of the net proceeds are intended to be applied generally toward consummating an initial business combination.
There is no assurance that the Company will be able to complete an initial business combination successfully.

The Company’s founder and sponsor is Aitefund
Sponsor LLC, a Delaware limited liability company formerly known as “Shepherd Ave Capital Sponsor LLC” (the “Sponsor”).
The Company’s ability to commence operations is contingent upon obtaining adequate financial resources through the IPO and the Private
Placement.

On December 6, 2024, the Company consummated IPO
of 8,625,000 units