Company: CHPG
Filing Date: 2025-03-27
Form Type: S-1/A
Source: 0001013762-25-002932
Chunk: 50

Company: ChampionsGate Acquisition Corp
Filing Date: 2025-03-27
Form: S-1/A
Chunk 50
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 directors or their affiliates or designees may loan us funds in support of our potential extension to allow additional time for us to complete an initial business combination which will be evidenced in extension notes, to be repaid in cash or in extension units $10.00 per unit at the closing of our initial business combination. If we do not complete a business combination, the loans would be repaid out of funds not held in the Trust Account, and only to the extent available. |
| Limited payments to insiders |     | We have offered to and our Chairman and CEO, Mr. Padmakumar, has accepted an offer letter, dated May 21, 2024, which was effective (the “Term”) from the date of the agreement until the earlier of: (i) the termination of the offer letter; (ii) the date that the Company consummates an initial business combination; (iii) the date the Company is wound up; or (iv) the date that he vacates his positions or he is removed or disqualified from his positions pursuant to the Company’s memorandum and articles of association. The offer letter provides that, during the Term, Mr. Padmakumar shall receive a monthly cash compensation of: (x) $7,500 from the date of the offer letter until the IPO is consummated, and (y) $10,000 from the date the IPO is consummated until the end of the Term of the CEO Offer Letter.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
 We have offered to and our CFO, Mr. Graj, has accepted an offer letter, dated May 21, 2024, which sets out the same Term as the offer letter for Mr. Padmakumar. The offer letter provides that, during the Term, Mr. Graj shall receive a monthly cash compensation of: (x) $5,000 from the date of the offer letter until the IPO is consummated, and (y) $6,000 from the date the IPO is consummated until the end of the Term.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
 Prior to the offering, we paid the monthly cash compensations through a certain loan provided by the sponsor to us to be used for a portion of the expenses of this offering, evidenced by a certain promissory note issued to the sponsor on April 18, 2024; after the offering, we intend to continue paying them through the net proceeds of this offering that will not be held in the Trust Account.