Company: CHPG
Filing Date: 2025-05-12
Form Type: S-1/A
Source: 0001213900-25-042135
Chunk: 203

Company: ChampionsGate Acquisition Corp
Filing Date: 2025-05-12
Form: S-1/A
Chunk 203
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 influence our management’s motivation in identifying or selecting a target business but we do not believe that the ability of our management to remain with us after the consummation of our initial business combination will be a determining factor in our decision to proceed with any potential business combination. We are not party to any other agreements with our directors and executive officers. Director Independence NASDAQ requires that a majority of our board must be composed of “independent directors.” Currently, Mr. Snyder, Mr. Mao, and Mr. Grigsby would each be considered an “independent director” under the NASDAQ listing rules, which is defined generally as a person other than an officer or employee of the company or its subsidiaries or any other individual having a relationship, which, in the opinion of the company’s board of directors would interfere with the director’s exercise of independent judgment in carrying out the responsibilities of a director. Our independent directors will have regularly scheduled meetings at which only independent directors are present. We will only enter into a business combination if it is approved by a majority of our independent directors. Additionally, we will only enter into transactions with our officers and directors and their respective affiliates that are on terms no less favorable to us than could be obtained from independent parties. Any related -partytransactions must also be approved by our audit committee and a majority of disinterested independent directors. Audit Committee Under the NASDAQ listing standards and applicable SEC rules, we are required to have three members of the audit committee all of whom must be independent. Effective as of the date of this prospectus, we have established an audit committee of the board of directors, which will consist of Mr. Snyder, Mr. Mao, and Mr. Grigsby, each of whom is an independent director under NASDAQ’s listing standards. Mr. Mao is the Chairperson of the audit committee. The audit committee’s duties, which are specified in our Audit Committee Charter, include, but are not limited to: •reviewing and discussing with management and the independent auditor the annual audited financial statements, and recommending to the board whether the audited financial statements should be included in our Form 10 -K; 126 •discussing with management and the independent auditor significant financial reporting issues and judgments made in connection with the preparation of our financial statements; •discussing with management major risk assessment and risk management policies; •monitoring the independence of the independent auditor; •verifying the rotation of the lead (or coordinating) audit partner having primary responsibility for the audit and the audit partner responsible for reviewing