Company: CHPG
Filing Date: 2025-11-17
Form Type: 10-Q
Source: 0001213900-25-111468
Chunk: 36

Company: ChampionsGate Acquisition Corp
Filing Date: 2025-11-17
Form: 10-Q
Item: Part I, Item 1
Chunk 36
---
22, 2024 (inception)
through September 30, 2024, there was $91,567 of cash provided by financing activities resulting from the proceeds from promissory note-related
parties of $219,862 and from issuance of Class B ordinary shares of $25,000. The changes were partially offset by the payment of deferred
offering costs of $153,295.

As of September 30, 2025, $76,167,558 was held
in the Trust Account in money market funds, which are invested in U.S. Treasury securities. We intend to use substantially all of the
funds held in the Trust Account, including any amounts representing interest earned on the Trust Account, excluding deferred underwriting
commissions, to complete our Initial Business Combination. We may withdraw interest from the Trust Account to pay taxes, if any. To the
extent that our share capital or debt is used, in whole or in part, as consideration to complete an Initial Business Combination, the
remaining proceeds held in the Trust Account will be used as working capital to finance the operations of the target business or businesses,
make other acquisitions and pursue our growth strategies.

We intend to use the funds held in the trust account,
including any amounts representing interest earned on the trust account (which interest shall be net of taxes payable and up to $100,000
of interest released to the Company to pay dissolution expenses) to complete our initial business combination. We may withdraw interest
to pay taxes, if any. Our annual income tax obligations will depend on the amount of interest and other income earned on the amounts held
in the trust account. To the extent that our ordinary shares or debt is used, in whole or in part, as consideration to complete our initial
business combination, the remaining proceeds held in the trust account will be used as working capital to finance the operations of the
target business or businesses, make other acquisitions and pursue our growth strategies.

19

Prior to the completion of our initial business
combination, we will have available to the Company $1,500,000 of proceeds held outside the trust account. We will use these funds primarily
to identify and evaluate target businesses, perform business due diligence on prospective target businesses, travel to and from the offices,
plants or similar locations of prospective target businesses or their representatives or owners, review corporate documents and material
agreements of prospective target businesses, structure, negotiate and complete a business combination, and to pay taxes to the extent
the interest earned on the