Company: CHPG
Filing Date: 2025-07-07
Form Type: 10-Q
Source: 0001213900-25-061810
Chunk: 13

Company: ChampionsGate Acquisition Corp
Filing Date: 2025-07-07
Form: 10-Q
Item: Part I, Item 1
Chunk 13
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 significant payments,
accruals or material deviation from its position.

10

There is currently no taxation imposed on income
by the Government of the Cayman Islands. The Company is considered to be an exempted Cayman Islands Company and is presently not subject
to income taxes or income tax filing requirements in the Cayman Islands or the United States. Consequently, income taxes are not
reflected in the Company’s unaudited financial statements.

Related Parties

Parties,
which can be a corporation or individual, are considered to be related if the Company has the ability, directly or indirectly, to control
the other party or exercise significant influence over the other party in making financial and operational decisions. Companies are also
considered to be related if they are subject to common control or common significant influence.

Recent Accounting Pronouncements

Management does not believe that any recently
issued, but not effective, accounting standards, if currently adopted, would have a material effect on the Company’s unaudited financial
statements.

Note 3 — Initial Public Offering

On May 29, 2025, the Company sold 7,475,000 Units
(including 975,000 Units issued upon the full exercise of the over-allotment option) in its IPO. Each Unit has an offering price of $10.00
and consists of one share of the Company’s Class A ordinary share and one Right. Each Right entitles the holder thereof to
receive one-eighth of one Class A ordinary share upon completion of the Company’s initial Business Combination. The Company
will not issue fractional shares. As a result, the holder must hold rights in multiples of 8 in order to receive shares for all of their
rights upon closing of a Business Combination.

Note 4 — Private Placement

Simultaneously
with the closing of the IPO, the Sponsor HoldCo purchased an aggregate of 230,000 Private Placement Units at a price
of $10.00 per Private Placement Unit for an aggregate purchase price of $2,300,000 in the Private Placement. Each Private Placement Units
was identical to the Units sold in the IPO, except that it will not be redeemable, transferable, assignable or salable by the Sponsor
HoldCo until the completion of its initial Business Combination (except to certain permitted transferees).

11

Note 5 — Related Party Transactions

Insider Shares

On
April 18, 2024, the Company issued 2,156