Company: CHPG
Filing Date: 2025-03-27
Form Type: S-1/A
Source: 0001013762-25-002932
Chunk: 155

Company: ChampionsGate Acquisition Corp
Filing Date: 2025-03-27
Form: S-1/A
Chunk 155
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 incur significant expenses in meeting our public reporting responsibilities, particularly in the areas of designing, enhancing, or remediating internal and disclosure controls. Doing so effectively may also take longer than we expect, thus increasing our exposure to financial fraud or erroneous financing reporting. Once our management’s report on internal controls is complete, we will retain our independent auditors to audit and render an opinion on such report when required by Section 404. The independent auditors may identify additional issues concerning a target business’s internal controls while performing their audit of internal control over financial reporting. Quantitative and Qualitative Disclosures about Market Risk The net proceeds of this offering and the sale of the private units held in the trust account will be invested in U.S. government treasury bills with a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a -7under the Investment Company Act which invest only in direct U.S. government treasury obligations or in an interest bearing demand deposit account. Due to the short -termnature of these investments, we believe there will be no associated material exposure to interest rate risk. Related Party Transactions On April18, 2024, we issued 2,156,250 Class B ordinary shares, par value of $0.0001 each, to our sponsor for a purchase price of $25,000, or approximately $0.012 per share. On June27, 2024, we issued 4,521,169 Class B ordinary shares, at par value, to the sponsor, for $452. In total, an aggregate 6,677,419 Class B ordinary shares were issued to the sponsor, at a per -shareprice of approximately $0.004 per share. On May15, 2024, the Sponsor entered into a securities transfer agreement, pursuant to which the Sponsor transferred 100,000 insider shares at the purchase price of $1,159.42 to Bala Padmakumar, the CEO, Chairman and Director of the Company and 60,000 insider shares at the purchase price of $695.65 to Evan M. Graj, the CFO and director of the Company, respectively. The fair value of these 160,000shares transferred on the grant date was $33,760 or $0.211 per share per valuation performed by a third -partyspecialist. On February25, 2025, the sponsor agreed to transfer all the insider shares it held to the Sponsor HoldCo as capital contribution, in exchange for the issuance of 100