Company: CHPG
Filing Date: 2025-07-07
Form Type: 10-Q
Source: 0001213900-25-061810
Chunk: 16

Company: ChampionsGate Acquisition Corp
Filing Date: 2025-07-07
Form: 10-Q
Item: Part I, Item 1
Chunk 16
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 of the notes (“Working Capital Loans”) may be converted upon consummation of the
Company’s Business Combination into working capital Units at a price of $10.00 per Unit. If the Company do not complete a Business
Combination, the loans would be repaid out of funds not held in the trust account, and only to the extent available.

As of March 31, 2025 and December 31, 2024,
the Company had no borrowings under the Working Capital Loans.

Due to Related Parties

On May 21, 2024, the Company signed the offer
letter with the CEO for compensation of $7,500 per month in cash and $10,000 per month in cash for the post-IPO period.

As of March 31, 2025 and December 31, 2024,
due to the CEO for salary payable amounted to of $55,000 and $32,500, respectively.

On May 21, 2024, the Company signed the offer
letter with the CFO for compensation of $5,000 per month in cash and $6,000 per month in cash for the post-IPO period. The CFO also paid
expenses on behalf of the Company.

As of March 31, 2025 and December 31, 2024,
due to the CFO including salary and reimbursement payable amounted to of $36,931 and $21,901, respectively.

13

Note 6 — Commitments and Contingencies

Underwriter Registration Rights

The holders of the insider shares, Private units (including
securities contained therein) and Units (including securities contained therein) that may be issued on conversion of working capital
loans or extension loans will be entitled to registration rights pursuant to a registration rights agreement to be signed prior to or
on the effective date of this offering requiring the Company to register such securities for resale. The holders of these securities are
entitled to make up to three demands, excluding short form demands, that the Company register such securities. In addition, the holders
have certain “piggy-back” registration rights with respect to registration statements filed subsequent to the Company’s
completion of the Company’s initial Business Combination and rights to require the Company to register for resale such securities
pursuant to Rule 415 under the Securities Act. The Company will bear the expenses incurred in connection with the filing of any such
registration statements.

Underwriting Agreement

The Company granted the underwriter a 45