Here are the 10-Q quarterly reports from Pantages Capital Acquisition Corporation (PGAC) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow PGAC and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full PGAC filings page.
Pantages Capital Acquisition Corporation, a Cayman Islands SPAC, reported June 30, 2026 results showing it remains pre-revenue and focused on completing an initial business combination. Total assets were $29.4 million, almost entirely the $29.3 million held in the Trust Account after significant redemptions.
During the quarter, 5,889,094 public shares were redeemed for approximately $62.4 million, leaving 2,980,156 Class A and 2,156,250 Class B ordinary shares outstanding. Net income was $538,284 for the quarter and $891,691 for the six months, driven by $1.54 million of interest and dividend income on Trust investments, partially offset by $649,292 of formation and operating costs, including professional fees for the pending business combination.
The company has minimal operating liquidity with $352 of cash outside the Trust and a working capital deficit of $1.23 million, funded by $1.21 million of sponsor working capital loans and $862,500 of deferred underwriting fees. It has a Business Combination Agreement with MacMines Austasia Pty Ltd and related entities and amended that agreement to remove the $5,000,001 net tangible asset closing condition. Management discloses substantial doubt about its ability to continue as a going concern within one year, dependent on additional working capital loans and closing a business combination before the extended deadline (currently August 6, 2026, with monthly extensions authorized to June 6, 2027 if further deposits are made).
Pantages Capital Acquisition Corporation, a Cayman Islands SPAC, reported net income of $353,407 for the three months ended March 31, 2026, driven by $786,309 of interest and dividend income on its Trust Account and offset by $432,902 of formation and operating costs.
Cash outside the Trust Account was $89,063 with a working capital deficit of $949,669, while $90,870,786 was held in the Trust Account invested in U.S. Treasury–focused money market funds. Management disclosed substantial doubt about the company’s ability to continue as a going concern, relying on related-party working capital loans totaling $863,500.
The company has until June 6, 2026 (the Combination Deadline) to complete its initial business combination with MacMines Austasia Pty Ltd and related entities. On April 14, 2026, the parties amended the Merger Agreement to remove the prior condition that Pantages have net tangible assets of at least $5,000,001 at closing. Disclosure controls and procedures were deemed not effective, and geopolitical conflicts were cited as potential risks to completing a transaction.
Pantages Capital Acquisition Corporation (PGAC) reported third-quarter results consistent with a pre‑combination SPAC. Net income was $686,686, driven by $911,969 of interest and dividend income on trust investments, partially offset by $225,283 of formation and operating costs. For the nine months ended September 30, 2025, net income was $2,090,753, with $2,709,511 of trust income against $618,758 of costs.
Cash held in the trust account totaled $89,228,389 as of September 30, 2025. PGAC had cash of $349,018 outside the trust and a working capital deficit of $117,878, supported by $457,500 in related‑party working capital loans. Management disclosed substantial doubt about the company’s ability to continue as a going concern.
The SPAC raised $86.25 million in its December 2024 IPO and has until March 6, 2026 to complete a business combination, or up to June 6, 2026 if a qualifying agreement is executed before March 6, 2026. As of November 10, 2025, 8,869,250 Class A and 2,156,250 Class B shares were outstanding.