Company: CHPG
Filing Date: 2025-07-07
Form Type: 10-Q
Source: 0001213900-25-061810
Chunk: 4

Company: ChampionsGate Acquisition Corp
Filing Date: 2025-07-07
Form: 10-Q
Item: Part I, Item 1
Chunk 4
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ception) through March 31, 2024 and the three months ended March 31, 2025,
the Company’s efforts have been limited to organizational activities as well as activities related to the initial public offering
(the “IPO”, see Note 3). The Company will not generate any operating revenues until after the completion of a Business
Combination, at the earliest. The Company will generate non-operating income in the form of dividend and/or interest income from the proceeds
derived from the IPO and Private Placement (see Note 4).

The
Company’s management has broad discretion with respect to the specific application of the net proceeds of the IPO and the sale of
Private Placement Units (as defined below), although substantially all
of the net proceeds are intended to be applied generally toward consummating a Business Combination. There is no assurance that the Company
will be able to complete a Business Combination successfully.

The Company’s founder and sponsor is ST
Sponsor Limited, a Cayman Islands exempted company (the “Sponsor”). The Company’s ability to commence operations is
contingent upon obtaining adequate financial resources through the IPO and the Private Placement.

On May 29, 2025, the Company consummated IPO of
7,475,000 units (including 975,000 units issued upon the full exercise of the over-allotment option, the “Units”). Each Unit
consists of one Class A ordinary share (the “Class A ordinary share”), $0.0001 par value per share, and one right (“Right”)
to receive of one-eighth of one Class A ordinary share upon the completion of the initial Business Combination of the Company.
The Units were sold at an offering price of $10.00 per Unit, generating total gross proceeds of $74,750,000.

Simultaneously with the consummation (the “closing”)
of the IPO and the sale of the Units, the Company consummated the Private Placement of 230,000 units (the “Private Placement Units”)
to ST Sponsor Investment LLC (the “Sponsor HoldCo”), a Cayman Islands limited liability company which has one member, ST Sponsor
Limited, the Company’s Sponsor, at a price of $10.00 per Private Placement Unit, generating total proceeds of $2,300,000, which
is described in Note 4. Each Private Placement Unit consists of one Class A ordinary share, and one Right to receive of one-eighth of
one