Company: CHPG
Filing Date: 2025-05-12
Form Type: S-1/A
Source: 0001213900-25-042135
Chunk: 146

Company: ChampionsGate Acquisition Corp
Filing Date: 2025-05-12
Form: S-1/A
Chunk 146
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 mid -sizedtarget businesses we may consider for our initial business combination may have internal controls that need improvement in areas such as: •staffing for financial, accounting and external reporting areas, including segregation of duties; •reconciliation of accounts; •proper recording of expenses and liabilities in the period to which they relate; 91 •evidence of internal review and approval of accounting transactions; •documentation of processes, assumptions and conclusions underlying significant estimates; and •documentation of accounting policies and procedures. Because it will take time, management involvement and perhaps outside resources to determine what internal control improvements are necessary for us to meet regulatory requirements and market expectations for our operation of a target business, we may 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,