Company: PGACR
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044013
Chunk: 144

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 144
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 (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.

6

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 March 31, 2025, the Company had $273,472
cash and a working capital of $285,131. The Company expects to incur significant professional costs to remain as a publicly traded company
and to incur significant transaction costs in pursuit of the consummation of an initial business combination. In connection with the Company’s
assessment of going concern considerations in accordance with the Financial Accounting Standards Board (“FAS