Company: CHPG
Filing Date: 2025-07-07
Form Type: 10-Q
Source: 0001213900-25-061810
Chunk: 47

Company: ChampionsGate Acquisition Corp
Filing Date: 2025-07-07
Form: 10-Q
Item: Part I, Item 8
Chunk 47
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 only if the
post-transaction company in which its public shareholders own shares will own or acquire 50% or more of the outstanding voting securities
of the target or otherwise acquires a controlling interest in the target sufficient for it not to be required to register as an investment
company under the Investment Company Act. There is no assurance that the Company will be able to complete a Business Combination successfully.

Upon the closing of the IPO, management has agreed
that at least $10.05 per Unit (as defined in Note 3) sold in the IPO will be held into a U.S.-based trust account (“trust account”).
The funds held in the trust account will be invested only in U.S. government treasury bills with a maturity of 185 days or less,
or in money market funds meeting the applicable conditions of Rule 2a-7 promulgated under the Investment Company Act which invest
solely in direct U.S. government treasury. Except with respect to divided and/or interest earned on the funds held in the trust account
that may be released to the Company to pay the Company’s tax obligation, if any, the proceeds from the IPO and the sale of the Private
units that are deposited and held in the trust account will not be released from the trust account until the earliest to occur of
(i) the completion of the Company’s initial Business Combination, (ii) the redemption of any public shares properly tendered
in connection with a shareholder vote to amend the company’s second amended and restated memorandum and articles of association
to (A) modify the substance or timing of obligation to redeem 100% of the Company’s public shares if the Company does not complete
the Company’s 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) provided that the
Company’s sponsor and/or designees must deposit into the trust account for each three months extension, $650,000, or $747,500
if the underwriter’s over-allotment option is exercised in full at certain costs, up to an aggregate of $1,300,000 or $1,495,000
if the underwriter’s over-allotment option is exercised in full, on or prior to the date of the applicable deadline. or (B) with
respect to any other provision