Company: CHPG
Filing Date: 2025-07-07
Form Type: 10-Q
Source: 0001213900-25-061810
Chunk: 48

Company: ChampionsGate Acquisition Corp
Filing Date: 2025-07-07
Form: 10-Q
Item: Part I, Item 8
Chunk 48
---
 relating to shareholders’ rights or pre-business combination activity and (iii) the redemption
of all of public shares if the company are unable to complete their initial Business Combination within 18 months from the closing
of the IPO (or up to 27 months from the closing of the IPO if the Company extends the period of time to consummate a Business Combination
by the full amount of time), subject to applicable law. In no other circumstances will a public shareholder have any right or interest
of any kind to or in the trust account. The proceeds deposited in the trust account could become subject to the claims of the Company’s
creditors, if any, which could have priority over the claims of the public shareholders.

The Company will provide its public shareholders
with the opportunity to redeem all or a portion of their public shares upon the completion of the Business Combination either (i) in
connection with a shareholder meeting called to approve the Business Combination or (ii) by means of a tender offer.

The ordinary shares subject to redemption will
be accredited to the redemption value and classified as temporary equity upon the completion of the IPO, in accordance with Accounting
Standards Codification (“ASC”) Topic 480 “Distinguishing Liabilities from Equity.” The Company has determined
not to consummate any Business Combination unless the Company has net tangible assets of at least $5,000,001 upon such consummation in
order to avoid being subject to Rule 419 promulgated under the Securities Act.

6

The Company will have only 18 months from
the closing of the IPO (or up to 27 months from the closing of the IPO if the Company extends three months at certain cost to
consummate a Business Combination by the full amount of time) to complete its initial Business Combination. The Company will: (i) cease
all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but no more than ten business days
thereafter, redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust
account, including interest earned on the funds held in the trust account and not previously released to the Company to pay taxes that
were paid by the Company or are payable by the Company, if any (certain amount of interest to pay dissolution expenses) divided by the
number of the then-issued and outstanding public shares, which redemption will completely extinguish public