PGAC (PGAC) AI Dilution Summary

PGAC's funding posture rests on sponsor lending: cash was $352 at the last reported balance-sheet date (2026-06-30), against estimated monthly burn of $103,738, with working capital supplied through a sponsor convertible promissory note facility of up to $1,500,000. Dilution here is driven primarily by the Working Capital Loans — sponsor convertible promissory notes issued July 18, 2025, February 26, 2026 and June 16, 2026 — with $1,208,500 outstanding.