Company: CHPG
Filing Date: 2025-07-07
Form Type: 10-Q
Source: 0001213900-25-061810
Chunk: 7

Company: ChampionsGate Acquisition Corp
Filing Date: 2025-07-07
Form: 10-Q
Item: Part I, Item 1
Chunk 7
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) by means of a tender offer.

The ordinary shares subject to redemption will
be accredited to the redemption value and classified as temporary equity upon the completion of the IPO, in accordance with Accounting
Standards Codification (“ASC”) Topic 480 “Distinguishing Liabilities from Equity.” The Company has determined
not to consummate any Business Combination unless the Company has net tangible assets of at least $5,000,001 upon such consummation in
order to avoid being subject to Rule 419 promulgated under the Securities Act.

6

The Company will have only 18 months from
the closing of the IPO (or up to 27 months from the closing of the IPO if the Company extends three months at certain cost to
consummate a Business Combination by the full amount of time) to complete its initial Business Combination. The Company will: (i) cease
all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but no more than ten business days
thereafter, redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust
account, including interest earned on the funds held in the trust account and not previously released to the Company to pay taxes that
were paid by the Company or are payable by the Company, if any (certain amount of interest to pay dissolution expenses) divided by the
number of the then-issued and outstanding public shares, which redemption will completely extinguish public shareholders’ rights
as shareholders (including the right to receive further liquidation distributions, if any); and, and (iii) as promptly as reasonably
possible following such redemption, subject to the approval of its remaining shareholders and its Board of Directors, liquidate and dissolve,
subject in each case to its obligations under Cayman Islands law to provide for claims of creditors and the requirements of other applicable
law. time). The Sponsor and each member of management team have entered into an agreement with the Company, pursuant to which they have
agreed to waive their rights to liquidating distributions from the trust account with respect to any insider shares they hold if the Company
fail to consummate an initial Business Combination within 18 months from the closing of this offering (or up to 27 months from
the closing of this offering, if the Company extend the period of time to consummate a Business Combination).

The Sponsor has agreed that it will be liable
to the