Company: CHPG
Filing Date: 2025-07-07
Form Type: 10-Q
Source: 0001213900-25-061810
Chunk: 60

Company: ChampionsGate Acquisition Corp
Filing Date: 2025-07-07
Form: 10-Q
Item: Part I, Item 8
Chunk 60
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 an
aggregate of 60,000 of its Class B ordinary shares, or 20,000 each to the Company’s three independent directors
for their board service (See Note 5).

Rights

Except in cases where the Company is not the surviving
company in a Business Combination, each holder of a right will automatically receive one-eighth of one Class A ordinary share upon
consummation of the Company’s initial Business Combination. In the event the Company will not be the surviving company upon completion
of the Company’s initial Business Combination, each right will automatically be converted to receive the kind and amount of securities
or properties of the surviving entity that each one-eighth of one Class A ordinary share underlying each right is entitled to upon
consummation of the Business Combination subject to any dissenter rights under the applicable law. The Company will not issue fractional
shares in connection with a conversion of rights. Fractional shares will either be rounded down to the nearest whole share or otherwise
addressed in accordance with the applicable provisions of the Companies Act and any other applicable Cayman Islands law. As a result,
you must hold rights in multiples of eight in order to receive shares for all of your Class A ordinary shares underlying the rights
upon closing of a Business Combination. If the Company are unable to complete an initial Business Combination within the required time
period and the Company redeem the public shares for the funds held in the trust account, holders of rights will not receive any of such
funds for their rights and the rights will expire worthless. The Company shall reserve such amount of its profits or share premium in
order to pay up the par value of each share issuable in respect of the rights.

Note 8 — Segment Information

ASC Topic 280, “Segment Reporting,”
establishes standards for companies to report in their financial statement information about operating segments, products, services, geographic
areas, and major customers. Operating segments are defined as components of an enterprise for which separate financial information is
available that is regularly evaluated by the Company’s chief operating decision maker, or group, in deciding how to allocate resources
and assess performance.

The Company’s chief operating decision maker
has been identified as the Chief Executive Officer (“CODM”), who reviews the operating results for the Company as a whole
to make decisions about allocating resources and assessing financial performance. Accordingly, management has determined that the Company
only has one operating segment.

15

When evaluating the Company’s performance
and making key decisions regarding resource allocation