Pantages Capital Acquisition Corp

The company is a blank check company, incorporated in the Cayman Islands, established to complete a business combination such as a merger, share exchange, asset acquisition, share purchase, recapitalization, or reorganization with one or more businesses or entities. To date, the company has not engaged in any operations or generated any revenue. It is considered a "shell company" under the Securities Exchange Act of 1934 due to its lack of operations and minimal assets, which are almost entirely cash. On December 6, 2024, the company completed its initial public offering (IPO) of 8,625,000 units, including 1,125,000 additional units for over-allotments. Each unit comprises one Class A ordinary share, $0.0001 par value per share, and one right to receive one-fifth of one Class A ordinary share upon the completion of the initial business combination. The units were sold at $10.00 per unit, raising gross proceeds of $86,250,000. Concurrently with the IPO, the company completed a private placement of 244,250 units to the Sponsor at $10.00 per unit, generating proceeds of $2,442,500. Following the IPO, $86,250,000, or $10.00 per unit sold in the IPO, was placed into a U.S.-based trust account with Wilmington Trust, N.A. as trustee. These funds are invested exclusively in U.S. government treasury bills with a maturity of 185 days or less, or in money market funds that meet Rule 2a-7 conditions and invest solely in direct U.S. government treasury.