Company: CHPG
Filing Date: 2025-07-07
Form Type: 10-Q
Source: 0001213900-25-061810
Chunk: 18

Company: ChampionsGate Acquisition Corp
Filing Date: 2025-07-07
Form: 10-Q
Item: Part I, Item 1
Chunk 18
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 B
Ordinary Share — The Company is authorized to issue 50,000,000 shares of Class B ordinary share with $0.0001
par value. On April 18, 2024, the Company issued an aggregate of 2,156,250 Insider shares to the Sponsor for an aggregate purchase
price of $25,000, or approximately $0.012 per share. On June 27, 2024, the Company issued an additional of 4,521,169 Class B
ordinary shares to the Sponsor at par value, for $452. On February 25, 2025, the Sponsor agreed to transfer all the insider shares it
held to Sponsor HoldCo as capital contribution, in exchange for the issuance of 100 membership interests to the Sponsor and for the admission
of the Sponsor as the sole member of the Sponsor HoldCo. On April 30, 2025, the Sponsor agreed to surrender 4,507,258 insider shares it
held, as a result of which the Sponsor HoldCo owns 2,010,161 insider shares. On May 21, 2025, Sponsor HoldCo converted 800,000
Class B ordinary shares, par value $0.0001 per share, on a one-for-one basis to 800,000 Class A ordinary shares of the Company, par value
$0.0001 per share. On May 29, 2025, the effective date of the registration statement of the IPO, the Sponsor transferred an
aggregate of 60,000 of its Class B ordinary shares, or 20,000 each to the Company’s three independent directors
for their board service (See Note 5).

Rights

Except in cases where the Company is not the surviving
company in a Business Combination, each holder of a right will automatically receive one-eighth of one Class A ordinary share upon
consummation of the Company’s initial Business Combination. In the event the Company will not be the surviving company upon completion
of the Company’s initial Business Combination, each right will automatically be converted to receive the kind and amount of securities
or properties of the surviving entity that each one-eighth of one Class A ordinary share underlying each right is entitled to upon
consummation of the Business Combination subject to any dissenter rights under the applicable law. The Company will not issue fractional
shares in connection with a conversion of rights. Fractional shares will either be rounded down