Company: PGACR
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-075873
Chunk: 31

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 31
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 which consisted of interest and dividend income on cash and investments held in trust
account of $1,797,542 and partially offset by formation and operating costs of $393,475.

For the period from
May 31, 2024 (inception) through June 30, 2024, we had a net loss of $17,320, which consisted of formation and operating costs of $17,320.

Liquidity and Capital
Resources

The Company’s liquidity needs up to June
30, 2025 had been satisfied through a payment from the Sponsor of $25,000 for the Founder Shares to cover certain offering costs and the
proceeds from the public offering and private placements.

Following the closing of
the IPO and sale of the Private Placement Units on December 6, 2024, a total of $86,250,000 was placed in the trust account, and we had
$533,006 of cash held outside of the trust account, after payment of costs related to the IPO, and available for working capital purposes.
In connection with the IPO, we incurred $2,528,729 in transaction costs, consisting of $1,078,125 of underwriting fees, $862,500 of deferred
underwriting fees, and $588,104 of other offering costs.

As June 30, 2025, the Company
had cash of $294,644 and a working capital of $107,405.

For the six months ended
June 30, 2025, there was $413,362 of cash used in operating activities resulting from dividend earned on investments held in trust account
of $1,797,542, and the decrease in due to related parties of $31,188. The changes were offset by net income of $1,404,067, the decrease
in prepaid expenses of $2,139, and the increase in accounts payable and accrued expenses of $9,162.

For the period from May 31,
2024 (inception) through June 30, 2024, there was $0 of cash used in or provided by operating activities.

For the six months ended
June 30, 2025 and for the period from May 31, 2024 (inception) through June 30, 2024, there were no investing activities.

For the six months ended
June 30, 2025, there was $175,000 of cash provided by financing activity resulting from the proceeds from prom