Company: CHPG
Filing Date: 2025-05-12
Form Type: S-1/A
Source: 0001213900-25-042135
Chunk: 162

Company: ChampionsGate Acquisition Corp
Filing Date: 2025-05-12
Form: S-1/A
Chunk 162
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 complete an initial business combination which will be evidenced in extension convertible notes, or the “extension notes,” to be repaid in cash or $10.00 per unit,

101 or the “extension units,” at the closing of our initial business combination. If we do not complete our initial business combination, the loans would be repaid out of funds not held in the Trust Account, and only to the extent available. The working capital units and extension units would be identical to the private units sold in the private placement. The terms of such loans by our insiders, officers and directors or their affiliates, 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 insiders or an affiliate of our insiders 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, but if we do, we will request such lender to provide a waiver against any and all rights to seek access to funds in our Trust Account. With regard to our directors and officers, other than the insider shares owned by our Chairman, CEO and Director, Mr. Bala Padmakumar, our CFO and Director, Mr. Evan M. Graj, and the expected transfer of 20,000 insider shares to each of our independent directors immediately prior to the offering. In addition, we have offered to and our Chairman and CEO, Mr.Padmakumar, has accepted an offer letter, dated May21, 2024, as amended on May11, 2025, which was effective (the “Term”) from the date of the agreement until the earlier of: (i) the termination of the offer letter; (ii) the date that the Company consummates an initial business combination; (iii) the date the Company is wound up; or (iv) the date that he vacates his positions or he is removed or disqualified from his positions pursuant to the Company’s memorandum and articles of association. The offer letter provides that, during the Term, Mr.Padmakumar shall receive (i) three monthly cash payments of $7,500 from the date of the offer letter until the IPO is consummated, (ii) three monthly cash payments of $7,500 from the date the IPO is consummated to the 90 thdate after the closing of the IPO, (iii) $22,500 upon the entry of a definitive agreement for our initial business combination,