Company: CHPG
Filing Date: 2025-05-06
Form Type: S-1/A
Source: 0001213900-25-039846
Chunk: 23

Company: ChampionsGate Acquisition Corp
Filing Date: 2025-05-06
Form: S-1/A
Chunk 23
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 price of $10.00 per unit, or the “working capital units.” In addition, our insiders, officers and directors or their affiliates or designees may loan us funds in support of our potential extension to allow additional time for us to complete an initial business combination which will be evidenced in extension convertible notes, or the “extension notes,” to be repaid in cash or $10.00 per unit, or the “extension units,” at the closing of our initial business combination. If we do not complete our initial business combination, the loans would be repaid out of funds not held in the Trust Account, and only to the extent available. The working capital units and extension units would be identical to the private units sold in the private placement. The terms of such loans by our insiders, officers and directors or their affiliates, if any, have not been determined and no written agreements exist with respect to such loans. We do not expect to seek loans from parties other than our insiders or an affiliate of our insiders as we do not believe third parties will be willing to loan such funds and provide a waiver against any and all rights to seek access to funds in our Trust Account, but if we do, we will request such lender to provide a waiver against any and all rights to seek access to funds in our Trust Account.

8 With regard to our directors and officers, other than the insider shares owned by our Chairman, CEO and Director, Mr.Bala Padmakumar, our CFO and Director, Mr.Evan M. Graj, and the expected transfer of 20,000 insider shares to each of our independent directors immediately prior to the offering, we have entered into (i) an offer letter with Mr.Padmakumar on May21, 2024, which provides that, in connection with his service as the CEO and Chairman of the Company, Mr.Padmakumar shall receive cash compensation of $7,500 from the date of the offer letter until the IPO is consummated, and (y) $10,000 from the date the IPO is consummated until the end of the term of the offer letter; and (ii) an offer letter with Mr.Graj on May21, 2024, which provides that, in connection with his service as the CFO of the Company, Mr.Graj shall receive cash compensation of $5,000 from the date of the offer letter until the IPO is consummated, and (y) $6,000 from the date the IPO is consummated until the end