Company: CHPG
Filing Date: 2025-11-17
Form Type: 10-Q
Source: 0001213900-25-111468
Chunk: 80

Company: ChampionsGate Acquisition Corp
Filing Date: 2025-11-17
Form: 10-Q
Item: Part I, Item 8
Chunk 80
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 the Sponsor HoldCo. On April 30, 2025, the Sponsor agreed to surrender 4,507,258 Class B insider shares it
held, as a result of which the Sponsor HoldCo owns 2,010,161 Class B insider shares. All these changes of shares were retroactively
reflected in the outstanding Class B ordinary shares as of December 31, 2024. On May 21, 2025, Sponsor HoldCo converted 800,000 Class
B ordinary shares, par value $0.0001 per share, on a one-for-one basis to 800,000 Class A ordinary shares of the Company, par value $0.0001
per share. As a result, the Sponsor HoldCo owns 800,000 Class A insider shares and 1,150,161 Class B insider shares, excluding 160,000
shares transferred to CEO and CFO and 60,000 shares transferred to three directors. As of September 30, 2025 and December 31, 2024, an
aggregate 1,370,161 and 2,170,161 Class B ordinary shares were issued and outstanding, respectively.

Rights

As of September
30, 2025 and December 31, 2024, there were 7,475,000 and none public Rights included in the public Units outstanding, respectively,
and 230,000 and none private Rights included in the Private Placement Units outstanding, respectively. Except in
cases where the Company is not the surviving company in a Business Combination, each holder of a right will automatically receive one-eighth
of one Class A ordinary share upon consummation of the Company’s initial Business Combination. In the event the Company will
not be the surviving company upon completion of the Company’s initial Business Combination, each right will automatically be converted
to receive the kind and amount of securities or properties of the surviving entity that each one-eighth of one Class A ordinary share
underlying each right is entitled to upon consummation of the Business Combination subject to any dissenter rights under the applicable
law. The Company will not issue fractional shares in connection with a conversion of rights. Fractional shares will either be rounded
down to the nearest whole share or otherwise addressed in accordance with the applicable provisions of the Companies Act and any other
applicable Cayman Islands law. As a result, you must hold rights in multiples of eight in order to receive shares for all of