Company: PGACR
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001213900-25-108205
Chunk: 100

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 2
Chunk 100
---
held in trust account of $2,709,511, the decrease in accounts payable and accrued expenses of $3,774, and the decrease in due to related
parties of $33,521. The changes were partially offset by net income of $2,090,753 and the decrease in prepaid expenses of $14,565.

For
the period from May 31, 2024 (inception) through September 30, 2024, there was $1,150 of cash used in operating activities resulting
from net loss of $146,534. The change was partially offset by formation and operating cost paid by the Sponsor of 118,165 and the increase
in accounts payable and accrued expenses of $27,219.

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

For
the nine months ended September 30, 2025, there was $457,500 of cash provided by financing activity resulting from the proceeds from
working capital loan to related party.

For
the period from May 31, 2024 (inception) through September 30, 2024, there was $12,000 of cash provided by financing activity resulting
from the proceeds from promissory note to related party.

We
intend to use the funds held outside the trust account to primarily identify and evaluate target businesses, perform business due diligence
on prospective target businesses, travel to and from the offices, plants or similar locations of prospective target businesses or their
representatives or owners, review corporate documents and material agreements of prospective target businesses, structure, negotiate
and complete an initial business combination.

In
order to fund working capital deficiencies or finance transaction costs in connection with an initial business combination, our directors,
officers and the sponsor (together, the “insiders”) or their affiliates or designees may, but are not obligated to, loan
us funds as may be required. If the Company completes the initial business combination, it would repay such loaned amounts. In the event
that the initial business combination does not close, we may use a portion of the working capital held outside the trust account to repay
such loaned amounts but no proceeds from the trust account would be used for such repayment. Up to $3,000,000 of such loans (the “Working
Capital Loans”) may be convertible into Units