Company: CHPG
Filing Date: 2025-11-17
Form Type: 10-Q
Source: 0001213900-25-111468
Chunk: 61

Company: ChampionsGate Acquisition Corp
Filing Date: 2025-11-17
Form: 10-Q
Item: Part I, Item 8
Chunk 61
---
 50% or more of the outstanding voting securities of the target
or otherwise acquires a controlling interest in the target sufficient for it not to be required to register as an investment company under
the Investment Company Act. There is no assurance that the Company will be able to complete a Business Combination successfully.

5

Upon the closing of the IPO, management has agreed
that at least $10.05 per Unit sold in the IPO will be held into a U.S.-based trust account (“trust account”). The funds held
in the trust account will be invested only in U.S. government treasury bills with a maturity of 185 days or less, or in money
market funds meeting the applicable conditions of Rule 2a-7 promulgated under the Investment Company Act which invest solely in direct
U.S. government treasury. Except with respect to divided and/or interest earned on the funds held in the trust account that may be
released to the Company to pay the Company’s tax obligation, if any, the proceeds from the IPO and the sale of the Private Placement
Units that are deposited and held in the trust account will not be released from the trust account until the earliest to occur of (i) the
completion of the Company’s initial Business Combination, (ii) the redemption of any public shares properly tendered in connection
with a shareholder vote to amend the company’s second amended and restated memorandum and articles of association to (A) modify
the substance or timing of obligation to redeem 100% of the Company’s public shares if the Company does not complete the Company’s
initial Business Combination within 18 months from the closing of the IPO. (The Company has eighteen (18) months after the Closing
Date to complete its initial Business Combination unless the Company and the Sponsor and/or designees elect to extend this initial time
period pursuant to the following scenarios: (x) in the event that the Company executes a definitive agreement for an initial Business
Combination within 18 months after the Closing Date, it will automatically receive an additional three months to consummate the initial
Business Combination or (y) the Company and the Sponsor and/or designees may extend that initial time period two times by an additional
three months each time up to for a total period of up to 24 months from the Closing Date,  or 27 months from the closing of
the IPO if the condition in scenario (x) is met) (the “Combination Deadline”) provided that the