Company: CHPG
Filing Date: 2025-07-07
Form Type: 10-Q
Source: 0001213900-25-061810
Chunk: 8

Company: ChampionsGate Acquisition Corp
Filing Date: 2025-07-07
Form: 10-Q
Item: Part I, Item 1
Chunk 8
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 Company if and to the extent any claims by a third party for services rendered or products sold to the Company, or a prospective
target business with which the Company has entered into a written letter of intent, confidentiality or similar agreement or Business Combination
agreement, reduce the amount of funds in the trust account to below the lesser of (i) $10.05 per public share and (ii) the actual
amount per public share held in the trust account as of the date of the liquidation of the trust account, if less than $10.05 per share
due to reductions in the value of the trust assets, less taxes payable, provided that such liability will not apply to any claims by a
third party or prospective target business who executed a waiver of any and all rights to the monies held in the trust account (whether
or not such waiver is enforceable) nor will it apply to any claims under the Company’s indemnity of the underwriters of this offering
against certain liabilities, including liabilities under the Securities Act. However, the Company has not asked the Sponsor to reserve
for such indemnification obligations, nor have the Company independently verified whether the Company’s Sponsor has sufficient funds
to satisfy its indemnity obligations and believe that the Sponsor’s only assets are securities of the company. Therefore, it cannot
be assured that that the Sponsor would be able to satisfy those obligations. None of the officers or directors will indemnify the Company
for claims by third parties including, without limitation, claims by vendors and prospective target businesses.

Going Concern Consideration

As
of March 31, 2025, the Company had a working capital deficiency of $636,853 excluding deferred offering costs. On May 29, 2025, the Company
completed its IPO. The Company expects to incur significant costs in pursuit of its financing and acquisition plans. These conditions
raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the unaudited
financial statements are issued. Management’s plans to address this need for capital through the Working Capital Loans, as
defined below (see Note 5). In addition, if the Company is unable to complete
a Business Combination before the Combination Deadline, the Company’s board of directors would proceed to commence a voluntary liquidation
and thereby a formal dissolution of the Company. There is no assurance that the
Company’s plans to raise capital or to consummate a Business Combination will be successful or successful within the required period.