Company: PGACR
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001213900-25-108205
Chunk: 63

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 8
Chunk 63
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ognition, classification, interest and penalties, accounting in interim
period, disclosure and transition. Based on the Company’s evaluation, it has been concluded that there are no significant uncertain
tax positions requiring recognition in the Company’s unaudited financial statements.

The
Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. There were no unrecognized
tax benefits and no amounts accrued for interest and penalties as of September 30, 2025 and December 31, 2024. The Company is currently
not aware of any issues under review that could result in significant payments, accruals or material deviation from its position.

There
is currently no taxation imposed on income by the Government of the Cayman Islands. In accordance with Cayman Islands federal
income tax regulations, income taxes are not levied on the Company. Consequently, income taxes are not reflected in the Company’s
unaudited financial statements.

Related
parties

Parties,
which can be a corporation or individual, are considered to be related if the Company has the ability, directly or indirectly, to control
the other party or exercise significant influence over the other party in making financial and operational decisions. Companies are also
considered to be related if they are subject to common control or common significant influence.

Recent
Accounting Pronouncements

Management
does not believe that any recently issued, but not effective, accounting standards, if currently adopted, would have a material effect
on the Company’s unaudited financial statements.

10

Note 3 — Initial
Public Offering

On
December 6, 2024, the Company sold 8,625,000 Units (including 1,125,000 Units issued upon the full exercise of the Over-Allotment Option)
in its IPO. Each Unit has an offering price of $10.00 and consists of one share of the Company’s Class A ordinary share and
one right. Each right entitles the holder thereof to receive one-fifth of one Class A ordinary share upon completion of the Company’s
initial business combination. The Company will not issue fractional shares. As a result, the holder must hold rights in multiples of
5 in order to receive shares for all of their rights upon closing of an initial business combination.

Note 4 — Private
Placement

Simultaneously
with the closing of the IPO, the Sponsor purchased an aggregate of 244,250 Units at a price of $10