Company: CHPG
Filing Date: 2025-08-15
Form Type: 10-Q
Source: 0001213900-25-077011
Chunk: 9

Company: ChampionsGate Acquisition Corp
Filing Date: 2025-08-15
Form: 10-Q
Item: Part I, Item 1
Chunk 9
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 the then-issued and outstanding public shares, which redemption will completely extinguish
public shareholders’ rights as shareholders (including the right to receive further liquidation distributions, if any); and (iii) as
promptly as reasonably possible following such redemption, subject to the approval of our remaining shareholders and our board of directors,
liquidate and dissolve, subject in each case to our obligations under Cayman Islands law to provide for claims of creditors and the requirements
of other applicable law. The Sponsor HoldCo and each member of management team have entered into an agreement with the Company, pursuant
to which they have agreed to waive their rights to liquidating distributions from the trust account with respect to any insider shares
(as defined in note 5 below) they hold if the Company fail to consummate an initial Business Combination before the Combination Deadline.

6

The Sponsor has agreed that it will be liable
to the Company if and to the extent any claims by a third party for services rendered or products sold to the Company, or a prospective
target business with which the Company has entered into a written letter of intent, confidentiality or similar agreement or Business Combination
agreement, reduce the amount of funds in the trust account to below the lesser of (i) $10.05 per public share and (ii) the actual
amount per public share held in the trust account as of the date of the liquidation of the trust account, if less than $10.05 per share
due to reductions in the value of the trust assets, less taxes payable, provided that such liability will not apply to any claims by a
third party or prospective target business who executed a waiver of any and all rights to the monies held in the trust account (whether
or not such waiver is enforceable) nor will it apply to any claims under the Company’s indemnity of the underwriters of this offering
against certain liabilities, including liabilities under the Securities Act. However, the Company has not asked the Sponsor to reserve
for such indemnification obligations, nor have the Company independently verified whether the Company’s Sponsor has sufficient funds
to satisfy its indemnity obligations and believe that the Sponsor’s only assets are securities of the company. Therefore, it cannot
be assured that that the Sponsor would be able to satisfy those obligations. None of the officers or directors will indemnify the Company
for claims by third parties including, without limitation, claims by vendors and prospective target businesses.

Going Concern Consideration

As of June 30, 2025