Company: CHPG
Filing Date: 2025-03-27
Form Type: S-1/A
Source: 0001013762-25-002932
Chunk: 243

Company: ChampionsGate Acquisition Corp
Filing Date: 2025-03-27
Form: S-1/A
Chunk 243
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 they sell such Excess Shares on the open market. Additionally, such shareholders will not receive redemption distributions with respect to the Excess Shares if we complete our initial business combination. And, as a result, such shareholders will continue to hold that number of shares exceeding 15% and, in order to dispose such shares would be required to sell their shares in open market transactions, potentially at a loss. If we seek shareholder approval of our initial business combination, we will complete our initial business combination only if we obtain the approval of a special resolution under Cayman Islands law, which requires the affirmative vote of a majority of not less than two -thirdsof the voting rights held by such shareholders as, being entitled to do so, vote at a general meeting of the company. In such case, our Sponsor HoldCo and each member of our management team have agreed to vote their insider shares and public shares in favor of our initial business combination. As a result, for purpose of seeking shareholder approval for our initial business combination, in addition to our insider shares and private shares, we would need additional 6,994,275 public shares to vote in order to obtain a quorum which will be, pursuant to the second amended and restated memorandum and articles of association that we will adopt immediately prior to or upon the effectiveness of this prospectus, a simple majority of our shareholders entitled to vote at the meeting. Once a quorum is obtained, (i) assuming only a quorum is present and voted at such meeting held to vote on our initial business combination, 341,412 public shares, or 1.7% of the 20,000,000 public shares sold in this offering are needed to be voted in favor of a transaction, or (ii) assuming all issued and outstanding shares are present and voted, we need additional 6,994,275, or 35.0%, of the 20,000,000 public shares sold in this offering are needed to be voted in 143 favor of a transaction (none of our officers, directors, insiders or their affiliates has indicated any intention to purchase units in this offering or any units or Class A ordinary shares in the open market or in private transactions (other than the private units)). Additionally, each public shareholder may elect to redeem their public shares irrespective of whether they vote for or against the proposed transaction or vote at all. Pursuant to our second amended and restated memorandum and articles of association, if we have not consummated an initial business combination within 18 months from the