Company: PGACR
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-002878
Chunk: 193

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1B
Chunk 193
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— Related Party
Transactions

Founder shares

On June 14, 2024, the Company’s CEO,
Mr. William W. Snyder, the Company’s CFO, Ms. Jia Peng, and the sponsor, Aitefund Sponsor LLC, acquired an aggregate of
1,725,000 shares of Class B ordinary shares of a par value of $0.0001 for an aggregate purchase price of $25,000 (the “founder
shares”) from the Company, of which: (i) the CEO acquired 100,000 founder shares for a purchase price of $1,449 or approximately
$0.014 per share; (ii) the CFO acquired 60,000 founder shares for a purchase price of $870, or approximately $0.014 per share;
and (iii) the Sponsor acquired 1,565,000 founder shares for a purchase price of $22,681, or approximately $0.014 per
share. On July 9, 2024, the Company issued an additional 431,250 Class B ordinary shares to the Sponsor, at par value, for the
purchase price of $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.

F-14

Concurrent with the IPO, the sponsor transferred
an aggregate of 60,000 of its Founder Shares, or 20,000 each to its three independent directors for their board service, for nominal cash
consideration, of $696. The fair value of the transfer of the 60,000 Founder Shares accounted for as compensation under Accounting Standards
Codification (“ASC”) 718, “Compensation – Stock Compensation” (“ASC 718”). The estimated fair
value of the 60,000 Founder Shares totaled $54,450. On December 6, 2024, the Company recognized a share-based compensation expense of
$53,754, net of the nominal cash consideration of $696 paid by the directors.

The Private Placement shares are identical to
the Class A ordinary shares included in the Units being sold in this offering. However, the Company’s insiders have agreed,
pursuant to written letter agreements with the Company, (A) to vote their founder shares and Private Placement shares (as well as
any public shares