Company: CHPG
Filing Date: 2025-07-07
Form Type: 10-Q
Source: 0001213900-25-061810
Chunk: 88

Company: ChampionsGate Acquisition Corp
Filing Date: 2025-07-07
Form: 10-Q
Item: Part I, Item 2
Chunk 88
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 the
initial Business Combination. On May 29, 2025, a total of $75,123,750 of the net proceeds from the IPO and the Private Placement was deposited
in a trust account established for the benefit of the Company’s Public Shareholders at a U.S. based trust account, with Continental
Stock Transfer & Trust Company, acting as trustee.

18

We also issued to Clear Street LLC, the representative
of the underwriters of the IPO, 112,125 Class A ordinary shares as part of the underwriting compensation (the “Representative Shares”)
on the closing date of the IPO. The Representative Shares are identical to the Class A Ordinary Shares included in the Units, with certain
exceptions.

Since our IPO, our sole business activity has
been identifying, evaluating suitable acquisition transaction candidates and preparing for consummation of a Business Combination. We
presently have no revenue and have had losses since inception from incurring formation and operating costs. We have relied upon the sale
of our securities and loans from the Sponsor and other parties to fund our operations.

Results of Operations

We have neither engaged in any operations nor
generated any revenues 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
income on cash and cash equivalents 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 March 31, 2025, we
had a net loss of $117,327, which consisted of formation and operating costs of $117,327.

For the period from March 27, 2024 (inception)
to March 31, 2024, we had a net loss of $55, which consisted of formation and operating costs of $55.

Liquidity and Capital Resources

Our liquidity needs have been satisfied prior
to completion of this offering through contribution from our sponsor of $22,901.40 to purchase the founder shares (the initial purchase
price of $25,001 for the issuance of the 2,170,161 insider shares less the