Company: CHPG
Filing Date: 2025-11-17
Form Type: 10-Q
Source: 0001213900-25-111468
Chunk: 116

Company: ChampionsGate Acquisition Corp
Filing Date: 2025-11-17
Form: 10-Q
Item: Part I, Item 2
Chunk 116
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31,905, the increase in due to related
parties of $16,774, and the increase in accounts payable and accrued expenses of $57,922.

For the nine months ended September 30, 2025,
there was $75,123,750 of cash used in investing activity resulting from the purchase of investments held in trust account.

For the period from March 27, 2024 (inception)
through September 30, 2024, there were no investing activities.

For the nine months ended September 30, 2025,
there was $75,574,089 of cash provided by financing activities resulting from the proceeds from the IPO of $74,750,000, from the proceeds
of the private placement consummated simultaneously with the IPO of $2,300,000, proceeds from working capital loans provided by a related
party of $16,459, and from promissory note provided by a related party of $95,048. The changes were partially offset by the payment of
the underwriter discount of $747,500, the payment of promissory note–related party of $350,000, and the payment of deferred offering
costs of $489,918.

For the period from March 22, 2024 (inception)
through September 30, 2024, there was $91,567 of cash provided by financing activities resulting from the proceeds from promissory note-related
parties of $219,862 and from issuance of Class B ordinary shares of $25,000. The changes were partially offset by the payment of deferred
offering costs of $153,295.

As of September 30, 2025, $76,167,558 was held
in the Trust Account in money market funds, which are invested in U.S. Treasury securities. We intend to use substantially all of the
funds held in the Trust Account, including any amounts representing interest earned on the Trust Account, excluding deferred underwriting
commissions, to complete our Initial Business Combination. We may withdraw interest from the Trust Account to pay taxes, if any. To the
extent that our share capital or debt is used, in whole or in part, as consideration to complete an Initial Business Combination, the
remaining proceeds held in the Trust Account will be used as working capital to finance the operations of the target business or businesses,
make other acquisitions and pursue our growth strategies.

We intend to use the funds held in the trust account,
including