Company: CHPG
Filing Date: 2025-11-17
Form Type: 10-Q
Source: 0001213900-25-111468
Chunk: 18

Company: ChampionsGate Acquisition Corp
Filing Date: 2025-11-17
Form: 10-Q
Item: Part I, Item 1
Chunk 18
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  (Level 3) 
  
    Assets: 

    Investments held in trust account 
    $76,167,558  
    $76,167,558  
    $          -  
    $            - 
  
    Total 
    $76,167,558  
    $76,167,558  
    $-  
    $- 

    December 31, 2024 
    Carrying Value  
    Quoted Prices in Active Markets (Level 1)  
    Significant Other Observable Inputs  (Level 2)  
    Significant  Other Unobservable Inputs  (Level 3) 
  
    Assets: 

    Investments held in trust account 
    $-  
    $-  
    $-  
    $- 
  
    Total 
    $           -  
    $              -  
    $           -  
    $           - 

10

Class A Ordinary Shares Subject to Possible
Redemption

The Company accounts for its Class A ordinary
shares subject to possible redemption in accordance with the guidance in ASC Topic 480, “Distinguishing Liabilities from Equity”
(“ASC 480”). Ordinary shares subject to mandatory redemption (if any) will be classified as a liability instrument and
will be measured at fair value. Conditionally redeemable ordinary shares (including ordinary shares that features redemption rights that
are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s
control) will be classified as temporary equity. At all other times, ordinary shares will be classified as shareholders’ equity.
In accordance with ASC 480-10-S99, the Company classifies the Class A ordinary shares subject to redemption outside of permanent
equity as the redemption provisions are not solely within the control of the Company. Given that the 7,475,000 Class A ordinary shares
sold as part of the Units in the IPO were issued with other freestanding instruments (i.e., Rights), the initial carrying value of
Class A ordinary shares classified as temporary equity has been allocated to the proceeds determined in accordance with ASC 470-20.
If it is probable that the equity instrument will become redeemable, the Company has the option to either (i) accrete changes in
the redemption value over the period from the date of issuance (or