Company: CHPG
Filing Date: 2025-07-07
Form Type: 10-Q
Source: 0001213900-25-061810
Chunk: 28

Company: ChampionsGate Acquisition Corp
Filing Date: 2025-07-07
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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, and to pay taxes to the extent
the interest earned on the trust account is not sufficient to pay our taxes.

In order to fund working capital deficiencies
or finance transaction costs in connection with an intended initial business combination, our Sponsor HoldCo, ponsor or their affiliates
or certain of our officers and directors may, but are not obligated to, loan us funds as may be required. If we complete our initial business
combination, we would repay such loaned amounts. In the event that our initial business combination does not close, we may use a portion
of the working capital held outside the trust account to repay such loaned amounts but no proceeds from our trust account would be used
for such repayment.

Up to $1,500,000 of the loans made by our Sponsor
HoldCo, sponsor, our officers and directors, or our or their affiliates to us prior to or in connection with our initial business combination
may be convertible into units, at a price of $10.00 per unit at the option of the lender, upon consummation of our initial business combination.
The units would be identical to the placement units. The terms of such loans by our officers and directors, if any, have not been determined
and no written agreements exist with respect to such loans. We do not expect to seek loans from parties other than our Sponsor HoldCo,
sponsor, our officers and directors or an affiliate of theirs as we do not believe third parties will be willing to loan such funds and
provide a waiver against any and all rights to seek access to funds in our trust account.

We do not believe we will need to raise additional
funds in order to meet the expenditures required for operating our business. However, if our estimates of the costs of identifying a target
business, undertaking in-depth due diligence and negotiating an initial business combination are less than the actual amount necessary
to do so, we may have insufficient funds available to operate our business prior to our 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