Company: CHPG
Filing Date: 2025-08-15
Form Type: 10-Q
Source: 0001213900-25-077011
Chunk: 62

Company: ChampionsGate Acquisition Corp
Filing Date: 2025-08-15
Form: 10-Q
Item: Part I, Item 8
Chunk 62
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ivalents

The Company considers all short-term investments
with an original maturity of three months or less when purchased to be cash equivalents. The Company had $383,204 and $3 cash in
bank as of June 30, 2025 and December 31, 2024.

 Investments Held in Trust Account

As of June 30, 2025 and December 31, 2024, substantially
all of the assets of $75,372,084 and $0 held in the trust account, which are invested primarily in money market funds. These
investments are presented on the balance sheet at fair value at the end of each reporting period. Earnings on these investments are included
in interest and dividends income in the accompanying statements of operations and is automatically reinvested. The fair value for these
investments is determined using quoted market prices in active markets.

Concentration of Credit Risk

Financial
instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in a financial institution,
which, at times, may exceed the Federal Depository Insurance Coverage (“FDIC”) of $250,000. As of June 30, 2025 and December
31, 2024, $133,204 and $0 was over the FDIC limit. The Company has not experienced losses on the account.

Offering Costs

The Company complies with the requirements of
ASC 340-10-S99-1 and SEC Staff Accounting Bulletin (“SAB”) Topic 5A — Expenses of Offering.
Deferred offering costs consist of underwriting, legal, and other expenses incurred through the balance sheet date that are directly related
to the IPO and were charged to shareholders’ equity upon the completion of the IPO. 

8

Net Loss Per Share

The Company complies with accounting and disclosure
requirements of FASB ASC 260, “Earnings Per Share”. Net loss per ordinary share is computed by dividing net loss by the weighted
average number of ordinary shares outstanding for the period. Remeasurement of carrying value to redemption value of redeemable ordinary
shares is excluded from loss per share as the redemption value approximates fair value. For the three and six months ended June 30, 2025,
the Company has not considered the effect of the Rights included in the IPO and Private Placement Units in the calculation of diluted
net loss per share, since the conversion of the Rights is contingent upon the occurrence of future events and the inclusion of such