Company: CHPG
Filing Date: 2025-11-17
Form Type: 10-Q
Source: 0001213900-25-111468
Chunk: 38

Company: ChampionsGate Acquisition Corp
Filing Date: 2025-11-17
Form: 10-Q
Item: Part I, Item 1
Chunk 38
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 respect to such loans. We do not expect to seek loans
from parties other than the Sponsor HoldCo, the sponsor, the officers and directors or their affiliates as we do not believe third parties
will be willing to loan such funds and provide a waiver against any and all rights to seek access to funds in our trust account.

As
of September 30, 2025, the Company had $93,434 of borrowings under the working capital loans.

On
July 7, 2025, the Company repaid $350,000 of the promissory note, dated April 18, 2024, to Sponsor and transferred the remaining balance
of $76,975 to the working capital loans.

We do not believe we will need to raise additional
funds in order to meet the expenditures required for operating our business. However, if our estimates of the costs of identifying a target
business, undertaking in-depth due diligence and negotiating an initial business combination are less than the actual amount necessary
to do so, we may have insufficient funds available to operate our business prior to our initial business combination. Moreover, we may
need to obtain additional financing either to complete our initial business combination or because we become obligated to redeem a significant
number of our public shares upon completion of our initial business combination, in which case we may issue additional securities or incur
debt in connection with such business combination.

Off-Balance Sheet Arrangements; Commitments
and Contractual Obligations; Quarterly Results

As of September 30, 2025, we did not have any
off-balance sheet arrangements as defined in Item 303(a)(4)(ii) of Regulation S-K and did not have any commitments or contractual obligations.
No unaudited quarterly operating data is included in this prospectus as we have not conducted any operations to date.

20

Contractual Obligations

Registration Rights

The holders of the insider shares and Private
Placement Units, including any Working Capital Units of those issued upon conversion of Working Capital Loans will be entitled to registration
rights pursuant to a registration rights agreement signed on May 27, 2025. The holders of these securities are entitled to make up to
three demands, excluding short form demands, that we register such securities. In addition, the holders have certain “piggy-back”
registration rights with respect to registration statements filed after the completion of our initial business combination and rights
to require us to register for resale such securities pursuant to Rule 415 under the Securities Act