Company: CHPG
Filing Date: 2025-11-17
Form Type: 10-Q
Source: 0001213900-25-111468
Chunk: 76

Company: ChampionsGate Acquisition Corp
Filing Date: 2025-11-17
Form: 10-Q
Item: Part I, Item 8
Chunk 76
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 needs following the consummation of the IPO 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.

On June 26, 2025, the Sponsor HoldCo agreed to
loan the Company up to $500,000 to meet the Company’s working capital needs following the consummation of the IPO. The loan was
evidenced by a promissory note that was non-interest bearing and unsecured, and it was to be paid upon the earlier of (1) the date on
which the Company consummates a business combination or merger with a qualified target company, and (2) the date of the liquidation
of the Company. The Sponsor HoldCo has the right, but not the obligation, to convert this loan, in whole or in part, into private units
of the Company, each consisting of one Class A ordinary share, one right to receive one-eighth of one Class A ordinary share. The number
of private units to be received by the Sponsor HoldCo in connection with such conversion shall be an amount determined by dividing (x)
the sum of the outstanding principal amount payable to the Sponsor HoldCo by (y) $10.00.

As of September 30, 2025 and December 31, 2024,
the Company had $93,434 and $0 borrowings under the Working Capital Loans, respectively.

13

Due to/Due from Related Parties

 On May 21, 2024, the Company signed the offer
letter with the CEO and CFO for compensation of $7,500 and $5,000 per month in cash, respectively, and $10,000 and