Company: CHPG
Filing Date: 2025-03-27
Form Type: S-1/A
Source: 0001013762-25-002932
Chunk: 156

Company: ChampionsGate Acquisition Corp
Filing Date: 2025-03-27
Form: S-1/A
Chunk 156
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 membership interests to the sponsor and for the admission of the sponsor as the sole member of the Sponsor HoldCo. In addition, Mr.Tan was appointed as the manager of the Sponsor HoldCo. Immediately prior to the closing of this offering, our Sponsor HoldCo has agreed to transfer 20,000 insider shares to each of William W. Snyder, David Mao and Robert H. Grigsby aggregating 60,000 insider shares. The insider shares held by our Sponsor HoldCo include an aggregate of up to 870,967shares subject to forfeiture to the extent that the underwriters’ over -allotmentoption is not exercised in full or in part, so that our insiders will collectively own 22.5% of our issued and outstanding shares after this offering (without given effect to the sale of the private units and representative shares, and assuming our insiders do not purchase Units in this offering). None of our insiders has indicated any intention to purchase Units in this offering. Our Sponsor HoldCo, sponsor, officers and directors, or any of their respective affiliates, will be reimbursed for any out -of -pocketexpenses incurred in connection with activities on our behalf such as identifying potential target businesses and performing due diligence on suitable business combinations. Our audit committee will review on a quarterly basis all payments that were made to our Sponsor HoldCo, sponsor, officers, directors or our or their affiliates and will determine which expenses and the amount of expenses that will be reimbursed. There is no cap or ceiling on the reimbursement of out -of -pocketexpenses incurred by such persons in connection with activities on our behalf. Our sponsor has agreed to loan us up to $500,000 under an unsecured promissory note to be used for a portion of the expenses of this offering. As of December31, 2024, we drew $331,927, against the promissory note. These loans are non -interestbearing, unsecured and are due at the earlier of the date on which we determine not to conduct an initial public offering of our securities or the closing of this offering. These loans will be repaid upon the closing of this offering out of the $1,500,000 of offering proceeds not held in the trust account. 94 In addition, in order to meet our working capital needs following the consummation of the initial public offering if the funds not held in the Trust Account are insufficient, or to extend its life, its insiders, officers and directors or their affiliates/designees may, but are not obligated