Company: CHPG
Filing Date: 2025-07-07
Form Type: 10-Q
Source: 0001213900-25-061810
Chunk: 69

Company: ChampionsGate Acquisition Corp
Filing Date: 2025-07-07
Form: 10-Q
Item: Part I, Item 8
Chunk 69
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 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.

Prior to the completion of our initial business
combination, we will have available to us $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 trust account is not sufficient to pay our taxes.

In order to fund working capital deficiencies
or finance transaction costs in connection with an intended initial business combination, our Sponsor HoldCo, ponsor or their affiliates
or certain of our officers and directors may, but are not obligated to, loan us funds as may be required. If we complete our initial business
combination, we would repay such loaned amounts. In the event that our initial business combination does not close, we may use a portion
of the working capital held outside the trust account to repay such loaned amounts but no proceeds from our trust account would be used
for such repayment.

Up to $1,500,000 of the loans made by our Sponsor
HoldCo, sponsor, our officers and directors, or our or their affiliates to us prior to or in connection with our initial business combination
may be convertible into units, at a price of $10.00 per unit at the option of the lender, upon consummation of our initial business combination.
The units would be identical to the placement units. The terms of such loans by our officers and directors, if any, have not been determined
and no written agreements exist with respect to such loans. We do not expect to seek loans from parties other than our Sponsor HoldCo,
sponsor, our officers and directors or an affiliate of theirs as we do not believe third parties will be willing to loan such funds and
provide a waiver against any and all rights to seek access