Company: CHPG
Filing Date: 2025-08-15
Form Type: 10-Q
Source: 0001213900-25-077011
Chunk: 5

Company: ChampionsGate Acquisition Corp
Filing Date: 2025-08-15
Form: 10-Q
Item: Part I, Item 1
Chunk 5
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248,334  
    $- 
  
    Related parties debt forgiveness 
    $108,602  
    $- 

The accompanying notes are an integral part of
these unaudited financial statements.

4

CHAMPIONSGATE ACQUISITION CORPORATION
NOTES TO UNAUDITED FINANCIAL STATEMENTS

Note 1 — Organization, Business
Operation and Going Concern Consideration

ChampionsGate Acquisition Corporation (the “Company”)
is a blank check company incorporated in the Cayman Islands on March 27, 2024 as an exempted company with limited liability. The
Company was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization
or similar business combination with one or more businesses or entities (the “Business Combination”). The Company’s
efforts to identify a prospective target business will not be limited to a particular industry or geographic location. The Company has
elected December 31 as its fiscal year end.

As of June 30, 2025, the Company had not commenced
any operations. For the period from March 27, 2024 (inception) through June 30, 2025, the Company’s efforts have been limited
to organizational activities as well as activities related to the Initial Public Offering (“IPO”, see Note 3). The Company
will not generate any operating revenues until after the completion of a Business Combination, at the earliest. The Company will generate
non-operating income in the form of dividend and/or interest income from the proceeds derived from the IPO and Private Placement (see
Note 4).

The Company’s management has broad discretion
with respect to the specific application of the net proceeds of the IPO and the sale of the Private Placement Units (as defined below),
although substantially all of the net proceeds are intended to be applied generally toward consummating a Business Combination. There
is no assurance that the Company will be able to complete a Business Combination successfully.

The Company’s founder and sponsor is ST
Sponsor Limited, a Cayman Islands exempted company (the “Sponsor”). The Company’s ability to commence operations is
contingent upon obtaining adequate financial resources through the IPO and the Private Placement.

On May 29, 2025, the Company consummated IPO of
7,475,000 units (including 975,000 units issued upon the full exercise of the over-allotment option, the “Units”). Each