Company: CHPG
Filing Date: 2025-11-17
Form Type: 10-Q
Source: 0001213900-25-111468
Chunk: 60

Company: ChampionsGate Acquisition Corp
Filing Date: 2025-11-17
Form: 10-Q
Item: Part I, Item 8
Chunk 60
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 the completion of the initial Business Combination of the Company.
The Units were sold at an offering price of $10.00 per Unit, generating total gross proceeds of $74,750,000.

Simultaneously with the consummation (the “closing”)
of the IPO and the sale of the Units, the Company consummated the Private Placement of 230,000 units (the “Private Placement Units”)
to ST Sponsor Investment LLC (the “Sponsor HoldCo”), a Cayman Islands limited liability company which has one member, ST Sponsor
Limited, the Company’s Sponsor, at a price of $10.00 per Private Placement Unit, generating total proceeds of $2,300,000, which
is described in Note 4. Each Private Placement Unit consists of one Class A ordinary share, and one Right to receive of one-eighth of
one Class A ordinary share upon the completion of the initial Business Combination.

Transaction costs amounted to $3,259,220, consisting
of $747,500 of underwriting commissions which was paid in cash at the closing date of the IPO, $1,495,000 of deferred underwriting commissions,
$293,020 of the Representative Shares (discussed below), and $723,700 of other offering costs. At the IPO closing date, cash of $464,339 was
held outside of the trust account (as defined below) and is available for the payment of accrued offering costs and for working capital
purposes.

In conjunction with the IPO, the Company issued
to the underwriter 112,125 Class A ordinary shares for no consideration (the “Representative Shares”). The fair value of the
Representative Shares accounted for as compensation under Financial Accounting Standards Board (“FASB”) Accounting Standards
Codification (“ASC”) 718, “Compensation – Stock Compensation” (“ASC 718”) is included in the
offering costs. The estimated fair value of the Representative Shares as of the IPO date totaled $293,020.

The Company’s initial Business Combination
must occur with one or more target businesses that together have an aggregate fair market value of at least 80% of the value of the trust
account (excluding any deferred underwriters’ fees and taxes payable on the income earned on the trust account) at the time of the
agreement to enter into the initial Business Combination. The Company will complete its initial Business Combination only if the post-transaction
company in which its public shareholders own shares will own or acquire