Company: PGACR
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-002878
Chunk: 327

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-03-27
Form: 10-K
Item: Item 2
Chunk 327
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0.0001 par value, with such designations, voting and other rights
and preferences as may be determined from time to time by the Company’s board of directors. As of December 31, 2024, there were
no preference shares issued or outstanding.

Class A Ordinary Share — The
Company is authorized to issue 445,000,000 shares of Class A ordinary share with $0.0001 par value. As of December 31, 2024, there
were 244,250 shares of Class A ordinary share issued or outstanding, excluding 8,625,000
Class A ordinary shares subject to possible redemption.

Class B Ordinary Share — The Company is authorized to issue 50,000,000 shares of Class B
ordinary share with $0.0001 par value. On June 14, 2024, the Company issued an aggregate of 1,725,000 founder shares to the
Sponsor and executives for an aggregate purchase price of $25,000. On July 9, 2024, the Company issued additional 431,250 Class B
ordinary shares to the Sponsor for $43. In total, an aggregate 2,156,250 Class B ordinary shares were issued to the Sponsor and executives,
at a per-share price of approximately $0.012 per share. The Company’s insiders will collectively own 20.0% of the Company’s
issued and outstanding shares of ordinary share after the IPO.

Rights

As of December 31, 2024, there
were 8,625,000 public rights included the public Units outstanding and 244,250 private rights included in the Private Placement
Units outstanding. Except in cases where the Company is not the surviving company in an initial business combination, each
holder of a right will automatically receive one-fifth of one Class A ordinary share upon consummation of the Company’s initial
business combination. In the event the Company will not be the surviving company upon completion of the Company’s initial business
combination, each right will automatically be converted to receive the kind and amount of securities or properties of the surviving entity
that each one-fifth of one Class A ordinary share underlying each right is entitled to upon consummation of the initial business
combination subject to any dissenter rights under the applicable law. The Company will not issue fractional shares in connection with
a conversion of rights. Fractional shares will either be