Shepherd Ave Capital Acquisition Corporation Shepherd Ave Capital Acquisition Corporation (NASDAQ: SPHA) serves as a blank check company, or special purpose acquisition company (SPAC), formed in the Cayman Islands in 2024 and headquartered at 221 W 9th St, #859, Wilmington, Delaware; it focuses on effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or similar business combination with one or more businesses or entities, without current operations or revenues, targeting companies across any industry with strong management teams, niche deal sizes exhibiting growth potential, long-term revenue visibility, defensible market positions, and benefits from U.S. public company status; sponsored by Aitefund Sponsor LLC, the company offers no additional products or services beyond its SPAC structure of Class A ordinary shares and rights, with units initially comprising one Class A ordinary share and one right convertible to one-fifth of one Class A ordinary share upon business combination completion. In December 2024, it completed an upsized $86.25 million initial public offering of 8,625,000 units at $10 per unit, managed by SPAC Advisory Partners LLC (a division of Kingswood Capital Partners), with separate trading of shares (SPHA) and rights (SPHAR) commencing January 27, 2025; it underwent successive name changes approved by shareholders, first to Aifeex Nexus Acquisition Corporation in March 2025 and then to Pantages Capital Acquisition Corporation (NASDAQ: PGAC) in August 2025, alongside ticker updates to reflect these rebrandings aimed at enhancing strategic positioning; as of November 2025, no initial business combination has been announced or completed, though the entity maintains its search for suitable targets with an outside date of March 6, 2026.