SCHEDULE: Karpus Management Reports Stake in Pantages Capital

Karpus Management, Inc. has updated its beneficial ownership filing for Pantages Capital Acquisition Corp., now holding 15.97% of the common stock.

Summary

• Karpus Management, Inc. (Karpus) has filed an amendment to its Schedule 13G, reporting its beneficial ownership of Pantages Capital Acquisition Corp. common stock.
• As of August 31, 2026, Karpus beneficially owns 820,275 shares, representing 15.97% of the class of securities.
• Karpus exercises sole voting power and sole dispositive power over these shares.
• Karpus is a registered investment adviser and is controlled by City of London Investment Group plc (CLIG), but operates independently with established informational barriers.
• The filing certifies that the securities were acquired and are held in the ordinary course of business and not for the purpose of influencing control of the issuer.

Sentiment

Score: 3

Explanation: StockSavvy.ai views this as a neutral filing, primarily reporting a change in beneficial ownership percentage without new strategic or financial information.

Positives

• Karpus Management maintains a significant stake, indicating continued confidence or strategic interest in Pantages Capital Acquisition Corp.
• The filing confirms that Karpus operates with independent investment and voting power, adhering to regulatory guidelines.

Negatives

• The filing does not provide any new financial performance data or strategic updates for Pantages Capital Acquisition Corp., limiting insight into the company's operational health.
• The increase in ownership percentage, if any, is not detailed, making it difficult to assess the trend of Karpus's investment.

Risks

• As a Schedule 13G filing, it primarily reports ownership and does not detail specific risks associated with Pantages Capital Acquisition Corp.'s operations or future prospects.
• The independence of Karpus from its parent CLIG, while certified, could be subject to scrutiny under certain market conditions or regulatory reviews.

Future Outlook

This filing is a report of beneficial ownership and does not contain forward-looking statements or guidance regarding the future performance of Pantages Capital Acquisition Corp.

Management Comments

• "Karpus is a registered investment adviser under Section 203 of the Investment Advisers Act of 1940."
• "in accordance with SEC Release No. 34-39538 (January 12, 1998), effective informational barriers have been established between Karpus and CLIG such that voting and investment power over the subject securities is exercised by Karpus independently of CLIG, and, accordingly, attribution of beneficial ownership is not required between Karpus and CLIG."
• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11."

Industry Context

StockSavvy.ai notes that Schedule 13G filings are common for institutional investors and investment advisers accumulating significant stakes in publicly traded companies, particularly special purpose acquisition companies (SPACs) like Pantages Capital Acquisition Corp. This filing indicates Karpus Management's ongoing investment strategy within the SPAC market.

Stakeholder Impact

• Shareholders: The filing confirms a significant institutional investor's stake, which can be viewed positively for stability, but the lack of new information limits immediate impact.
• Management of Pantages Capital Acquisition Corp.: The filing acknowledges Karpus's substantial ownership and its independent investment decisions.

Next Steps

• Karpus Management will continue to hold its shares in Pantages Capital Acquisition Corp. and will file amendments to this Schedule 13G as required by SEC regulations if its beneficial ownership changes significantly.

Key Dates

Keywords

beneficial ownership, Schedule 13G, investment adviser, Pantages Capital Acquisition Corp, Karpus Management, common stock, voting power, dispositive power