Company: CHPG
Filing Date: 2025-07-07
Form Type: 10-Q
Source: 0001213900-25-061810
Chunk: 23

Company: ChampionsGate Acquisition Corp
Filing Date: 2025-07-07
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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 Finnerty model, was applied to yield a minority non-marketable fair value. The
following criteria presents the quantitative information regarding market assumptions used in the founder share valuation performed by
a third-party specialist:

    May 29,  2025 
  
    Per Share Value of Class A Ordinary Shares 
    $8.89 
  
    Probability of De-SPAC 
     30.0%
  
    Per Share Value of Class B Ordinary Shares (Marketable Basis) 
    $2.67 
  
    Discount of lack of marketability (DLOM) 
     2.0%

On June 26, 2025, the Sponsor HoldCo agreed to
loan the Company up to $500,000 (the “Working Capital Loan”) to meet the Company’s working capital needs following the
consummation of the IPO. The loan was evidenced by a promissory note that was non-interest bearing and unsecured, and it was to be paid
upon the earlier of (1) the date on which the Company consummates a business combination or merger with a qualified target company, and
(2) the date of the liquidation of the Company. The Sponsor HoldCo has the right, but not the obligation, to convert this loan, in
whole or in part, into private units of the Company, each consisting of one Class A ordinary share, one right to receive one-eighth of
one Class A ordinary share. The number of private units to be received by the Sponsor HoldCo in connection with such conversion shall
be an amount determined by dividing (x) the sum of the outstanding principal amount payable to the Sponsor HoldCo by (y) $10.00.

On July 7, 2025, the Company repaid $350,000 of Promissory Note (see Note 5) to Sponsor and transferred the remaining balance of $76,975
to the Working Capital Loan.

17

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL
CONDITION AND RESULTS OF OPERATIONS

References
in this report (the “Quarterly Report”) to “we,” “us” or the “Company” refer to ChampionsGate
Acquisition Corporation. References to our “management” or our “management team”
refer to our officers and directors, and references to the “Sponsor” refer to ST Sponsor Limited and the “Sponsor
HoldCo” refer to ST Sponsor Investment LLC. The following discussion and analysis of the Company