Company: CHPG
Filing Date: 2025-07-07
Form Type: 10-Q
Source: 0001213900-25-061810
Chunk: 91

Company: ChampionsGate Acquisition Corp
Filing Date: 2025-07-07
Form: 10-Q
Item: Part I, Item 2
Chunk 91
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 initial business combination. Moreover, we may
need to obtain additional financing either to complete our initial business combination or because we become obligated to redeem a significant
number of our public shares upon completion of our initial business combination, in which case we may issue additional securities or incur
debt in connection with such business combination.

20

Off-Balance Sheet Arrangements; Commitments
and Contractual Obligations; Quarterly Results

As of March 31, 2025, we did not have any off-balance
sheet arrangements as defined in Item 303(a)(4)(ii) of Regulation S-K and did not have any commitments or contractual obligations. No
unaudited quarterly operating data is included in this prospectus as we have not conducted any operations to date.

Contractual Obligations

Registration Rights

The holders of the insider shares and Private
Placement Units, including any Working Capital Units of those issued upon conversion of Working Capital Loans will be entitled to registration
rights pursuant to a registration rights agreement signed on May 27, 2025. The holders of these securities are entitled to make up to
three demands, excluding short form demands, that we register such securities. In addition, the holders have certain “piggy-back”
registration rights with respect to registration statements filed after the completion of our initial business combination and rights
to require us to register for resale such securities pursuant to Rule 415 under the Securities Act. We will bear the costs and expenses
of filing any such registration statements. 

Underwriting Agreement

The underwriters received a cash underwriting
discount of $0.10 per Unit, or $747,500 at the closing of the IPO. In addition, the underwriters will be entitled to a deferred fee of
$0.20 per Unit, or $1,495,000 in the aggregate upon the consummation of a Business Combination. The deferred fee will become payable to
the underwriters from the amounts held in the Trust Account solely in the event that the Company completes its Business Combination, subject
to the terms of the underwriting agreement dated May 27, 2025.

Critical Accounting Policies and Estimates

Use of Estimates

The preparation of the unaudited financial statements
in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities
and disclosure of contingent assets and liabilities at the date of the unaudited financial statements and the reported amounts of expenses
during the reporting period. Actual results could differ from