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ChampionsGate Acquisition Corp-A(CHPG) - 2025 Q3 - Quarterly Report
2025-11-17 19:46
IPO and Fundraising - The company completed its IPO on May 29, 2025, raising total gross proceeds of $74,750,000 from the sale of 7,475,000 units at an offering price of $10.00 per unit[100]. - The company incurred $3,259,220 in transaction costs related to the IPO, including $745,500 in underwriting fees and $1,495,000 in deferred underwriting fees[110]. - Underwriters received a cash underwriting discount of $0.10 per Unit, totaling $747,500 at IPO closing, with a deferred fee of $1,495,000 upon business combination[129]. Financial Performance - For the three months ended September 30, 2025, the company reported a net income of $682,288, primarily from interest and dividend income of $795,474, offset by formation and operating costs of $113,186[107]. - For the nine months ended September 30, 2025, the company had a net income of $494,905, with interest and dividend income of $1,043,808, and total formation and operating costs of $548,903[108]. - As of September 30, 2025, the company had $76,167,558 held in the Trust Account, which is invested in U.S. Treasury securities[119]. Working Capital and Financing - The company had a working capital deficit of $23,287 as of September 30, 2025, with $17,351 in cash available[112]. - The company issued a promissory note to the Sponsor HoldCo for up to $500,000 to fund working capital needs prior to completing its initial business combination[123]. - As of September 30, 2025, the Company had $93,434 of borrowings under working capital loans[125]. - On July 7, 2025, the Company repaid $350,000 of a promissory note and transferred a remaining balance of $76,975 to working capital loans[125]. - The Company does not expect to need additional funds for operating expenditures but may require financing for business combination completion or share redemptions[126]. Business Combination and Future Plans - The company plans to use funds held in the trust account to complete its initial business combination and may withdraw interest to pay taxes[120]. - The company has not yet identified a specific business combination target and has not engaged in substantive discussions with any potential targets[99]. Regulatory and Compliance - The company expects to incur increased expenses as a result of being a public company, including legal and financial reporting costs[106]. - As of September 30, 2025, the Company had no off-balance sheet arrangements or contractual obligations[127]. - Management believes that no recently issued accounting standards will materially affect the unaudited financial statements[131]. - The Company is classified as a smaller reporting company and is not required to provide extensive market risk disclosures[132].
ChampionsGate Acquisition Corporation Announces Appointment of New Chief Executive Officer
Globenewswire· 2025-10-20 15:22
Core Points - ChampionsGate Acquisition Corporation has appointed Mr. Boon Liat Timothy Lim as the new Chief Executive Officer, Chairman, and director [1][3] - Mr. Lim brings over 20 years of executive leadership and operational management experience in Southeast Asia, having served in various roles at Dragon Group International Ltd and ASTI Holdings Ltd [2] - The company aims to leverage Mr. Lim's extensive business management experience to identify superior business combination opportunities [4] Company Overview - ChampionsGate Acquisition Corporation is a blank check company incorporated in the Cayman Islands, focused on mergers, share exchanges, asset acquisitions, and similar business combinations [5]
ChampionsGate Acquisition Corp-A(CHPG) - 2025 Q2 - Quarterly Report
2025-08-15 10:08
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 For the transition period from _________to __________ Commission File Number 001-42651 ChampionsGate Acquisition Corporation (Exact name of registrant as specified in its charter) Cayman Islands N/A (State or other jurisdiction of incorporation or organization) FORM 10-Q ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION ...