Pantages Capital Acquisition: Nasdaq Notice for Insufficient Total Holders

What Happened

• Pantages Capital Acquisition Corp (PGAC) disclosed in an 8-K that on September 2, 2026 Nasdaq’s Listing Qualifications Department sent a written notice saying the company is not in compliance with Nasdaq Listing Rule 5450(a)(2), which requires at least 400 total holders for continued listing on the Nasdaq Global Market. The notice is a deficiency notification and does not immediately affect trading or delisting.
• The company intends to submit a plan to Nasdaq by October 19, 2026 to regain compliance. If Nasdaq accepts the plan, it may grant up to a 180-calendar-day extension from the notice date to demonstrate compliance. If Nasdaq rejects the plan, PGAC can appeal to a Nasdaq Hearings Panel.

Key Details

• Date of notice: September 2, 2026.
• Rule cited: Nasdaq Listing Rule 5450(a)(2) — minimum 400 total holders.
• Deadline to submit compliance plan: October 19, 2026.
• Potential extension if plan accepted: up to 180 calendar days from the notice date.

Why It Matters

• For investors, this notice signals a compliance issue that could lead to delisting if not resolved, though there is no immediate trading impact. The company has a defined process and deadlines (plan by Oct 19, possible 180-day cure period) to address the deficiency. Monitoring subsequent filings for the submitted plan, Nasdaq’s response, or any appeals will be important for holders of PGAC shares.
• The filing also includes standard forward-looking statements cautioning that outcomes depend on various risks, including the company’s ability to regain compliance.