Company: CHPG
Filing Date: 2025-05-12
Form Type: S-1/A
Source: 0001213900-25-042135
Chunk: 46

Company: ChampionsGate Acquisition Corp
Filing Date: 2025-05-12
Form: S-1/A
Chunk 46
---
 of this offering not held in the Trust Account (estimated to initially be $428,750); provided, however, that in order to meet our working capital needs following the consummation of this offering if the funds not held in the Trust Account are insufficient, or to extend our life, our insiders, officers and directors or their affiliates/designees may, but are not obligated to, loan us funds, from time to time or at any time, in whatever amount they deem reasonable in their sole discretion. Each loan would be evidenced by a promissory note. The notes would either be paid upon consummation of our initial business combination, without interest, or, at the lender’s discretion, up to $1,500,000 of the working capital notes may be converted upon consummation of our business combination into working capital units at a price of $10.00 per unit. In addition, our insiders, officers and directors or their affiliates or designees may loan us funds in support of our potential extension to allow additional time for us to complete an initial business combination which will be evidenced in extension notes, to be repaid in cash or in extension units $10.00 per unit at the closing of our initial business combination. If we 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. |

23

| Limited payments to insiders |     | We have offered to and our Chairman and CEO, Mr. Padmakumar, has accepted an offer letter, dated May 21, 2024, as amended on May 11, 2025, which was effective (the “Term”) from the date of the agreement until the earlier of: (i) the termination of the offer letter; (ii) the date that the Company consummates an initial business combination; (iii) the date the Company is wound up; or (iv) the date that he vacates his positions or he is removed or disqualified from his positions pursuant to the Company’s memorandum and articles of association. The offer letter provides that, during the Term, Mr. Padmakumar shall receive (i) three monthly cash compensation of $7,500 from the date of the offer letter until the IPO is consummated, (ii) three monthly cash compensation of $7,500 from the date the IPO is consummated and 90th date after the closing of the IPO, (iii) $22,500 upon the entry of a definitive agreement