Company: CHPG
Filing Date: 2025-08-15
Form Type: 10-Q
Source: 0001213900-25-077011
Chunk: 108

Company: ChampionsGate Acquisition Corp
Filing Date: 2025-08-15
Form: 10-Q
Item: Part I, Item 2
Chunk 108
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to date. Our only activities since inception have been organizational activities and those necessary to prepare for the IPO and after
the IPO, identifying a target company for a Business Combination. Following the IPO, we will not generate any operating revenues until
after completion of our initial business combination. We expect to generate non-operating income in the form of interest and dividend
income on investment held in trust account after the IPO. After the IPO, we expect to incur increased expenses as a result of being a
public company (for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses in connection
with completing a Business Combination.

For the three months ended June 30, 2025, we had a net loss of $70,056,
which consisted of formation and operating costs of $162,486 and stock compensation expense of $155,094. These were partially offset by
interest and dividend income on investments held in trust account of $248,334.

For the three months ended June 30, 2024, we had
a net loss of $64,622, which consisted of formation and operating costs of $32,717 and stock compensation expense of $31,905.

For the six months ended June 30, 2025, we had a net loss of $187,383,
which consisted of formation and operating costs of $279,813 and stock compensation expense of $155,094. These were partially offset by
interest and dividend income on investments held in trust account of $248,334.

For the period from March 27, 2024 (inception)
to June 30, 2024, we had a net loss of $64,677, which consisted of formation and operating costs of $32,772 and stock compensation expense
of $31,905.

Liquidity and Capital Resources

Our liquidity needs have been satisfied prior
to completion of the IPO through contribution from our sponsor of $22,901 to purchase the founder shares (the initial purchase price of
$25,001 for the issuance of the 2,170,161 insider shares less the consideration price of $2,551 to be received from directors and officers
in exchange for the transfer of certain insider shares) and up to $500,000 in loans from our sponsor under an unsecured promissory note.

Following the closing of the IPO and sale of the
Private Placement Units on May 29, 2025, a total of $75,123,750 was placed