Company: CHPG
Filing Date: 2025-05-06
Form Type: S-1/A
Source: 0001213900-25-039846
Chunk: 85

Company: ChampionsGate Acquisition Corp
Filing Date: 2025-05-06
Form: S-1/A
Chunk 85
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 combination. There is no requirement under the Companies Act for us to hold annual or general meetings to elect directors. Accordingly, shareholders would not have the right to such a meeting or election of directors. As a result, it is unlikely that there will be an annual general meeting to elect new directors prior to the consummation of a business combination, in which case all of the current directors will continue in office until at least the consummation of the business combination. Accordingly, you may not be able to exercise your voting rights for up to 18 months (or up to 27 months if we extend the period of time to consummate a business combination, as described in more detail in this prospectus). If there is an annual general meeting, as a consequence of our “staggered” board of directors, only a minority of the board of directors will be considered for election and our insiders, because of their ownership position, will have considerable influence regarding the outcome. Accordingly, our insiders will continue to exert control at least until the consummation of a business combination. The nominal purchase price paid by our Sponsor HoldCo for the insider shares may result in significant dilution to the implied value of your public shares prior to or upon the consummation of our initial business combination. We are offering our units at an offering price of $10.00 per unit and the amount in our Trust Account is initially anticipated to be $10.05 per public share, implying an initial value of $10.05 per public share. However, prior to this offering, our insiders paid a nominal aggregate purchase price of $25,001 for 2,170,161 ordinary shares, or the insider shares, at approximately $0.012 per share. As a result, your public shares will be significantly diluted. Upon closing of this offering, and assuming no value is ascribed to the private units included in the units, you and the other public shareholders will incur an immediate and substantial dilution of approximately 104.3% (or $9.27 per share, assuming no exercise of the underwriters’ over -allotmentoption), the difference between the pro forma net tangible book value per share after this offering of $(0.38) and the effective initial offering price of $8.89 per share included in the units (adjusted to exclude the value of the rights). For example, the following table shows the dilutive effect of the insider shares on the implied value of the public shares upon full redemption of the insider shares at the discretion of