Company: CHPG
Filing Date: 2025-03-27
Form Type: S-1/A
Source: 0001013762-25-002932
Chunk: 312

Company: ChampionsGate Acquisition Corp
Filing Date: 2025-03-27
Form: S-1/A
Chunk 312
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 27 months if the Company extends the period of time to consummate a business combination) from the closing of this offering, the proceeds from the sale of the private units will be included in the liquidating distribution to the holders of the public shares. Note 5 — Related Party Transactions Insider Shares On April 18, 2024, the Company issued 2,156,250 Class B ordinary shares, par value of $0.0001 each, to the Sponsor for a purchase price of $25,000, or approximately $0.012 per share. On June 27, 2024, the Company issued additional 4,521,169 Class B ordinary shares, at par value of $452, which is accounted for as a nominal issuance to the sponsor. 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. The insider shares held by the Company’s insiders include an aggregate of up to 870,967shares subject to forfeiture to the extent that the underwriters’ over -allotmentoption is not exercised in full or in part, so that its insiders will collectively own 22.5% of its issued and outstanding shares after this offering (without given effect to the sale of the private units and representative shares, and assuming its insiders do not purchase Units in this offering). None of the Company’s insiders has indicated any intention to purchase Units in this offering. On May 15, 2024, the Sponsor entered into a securities transfer agreement, pursuant to which the Sponsor transferred 100,000 insider shares, which equated to 1.5% of the 6,677,419 Class B ordinary 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. Stock compensation expense was $31,905 for the period from March 27, 2024 (inception) through December 31, 2024. The Company accounted for the transfer under ASC 718 stock compensation (See Note 2 for details). The share price was