Company: CHPG
Filing Date: 2025-05-06
Form Type: S-1/A
Source: 0001213900-25-039846
Chunk: 297

Company: ChampionsGate Acquisition Corp
Filing Date: 2025-05-06
Form: S-1/A
Chunk 297
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 $       | 9.639 |   |
| Discount of lack of marketability (DLOM) |     |         | 27.02 | % |

Promissory Note — Related Party On April 18, 2024, the Sponsor agreed to loan the Company up to $500,000 (the “Promissory Note”) to be used for a portion of the expenses of the Proposed Public Offering. As of December 31, 2024, the Company has an outstanding loan balance of $331,927. This Promissory Note is non -interestbearing, unsecured and is due at the earlier of (1) December 31, 2024, subsequently amended to August 31, 2025, or (2) the date on which the Company consummates an initial public offering of its securities, unless accelerated upon the occurrence of an Event of Default. The Company plants to repay the loan upon the closing of the Proposed Public Offering out of the offering proceeds not held in the Trust Account. Working Capital Loans In addition, in order to meet the Company’s working capital needs following the consummation of the Proposed 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 to, loan the Company 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 the Company’s initial Business Combination, without interest, or, at the lender’s discretion, up to $1,500,000 of the notes (“Working Capital Loans”) may be converted upon consummation of the Company’s Business Combination into working capital Units at a price of $10.00 per Unit. If the Company 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. As of December 31, 2024, the Company had no borrowings under the Working Capital Loans. Due to Related Parties On May 21, 2024, the Company signed the offer letter with the CEO for compensation of $7,500 per month in cash and $10,000 per month in cash for the post -IPOperiod. As of December 31, 2024, due to the CEO for salary payable amounted to of $32,500.