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ChampionsGate Acquisition Corp, a blank check company, successfully completed its initial public offering (IPO) on May 29, 2025. The company issued 7,475,000 units, including the full exercise of the underwriter’s option to purchase an additional 975,000 units to cover over-allotments. Each unit, priced at $10.00, comprises one Class A ordinary share and one right to acquire one-eighth of a Class A share upon completion of an initial business combination, leading to gross proceeds of $74.75 million.
Additionally, ChampionsGate conducted a private placement of 230,000 units to its sponsor, ST Sponsor Investment LLC, generating $2.3 million. The units in the private placement were sold at the same price of $10.00 per unit.
The total proceeds of $75,123,750, which includes the funds from both the IPO and the private placement, have been placed in a trust account managed by Continental Stock Transfer & Trust Company. This account is intended for the benefit of the company’s public shareholders and the IPO underwriters.
An audited balance sheet dated May 29, 2025, which reflects the receipt of proceeds from the IPO and private placement, has been included as Exhibit 99.1 in the company’s SEC filing. ChampionsGate’s Class A ordinary shares and rights are traded on the Nasdaq Stock Market under the symbols NASDAQ:CHPG, (NASDAQ:CHPGU), and NASDAQ:CHPGR, respectively.
This information is based on a press release statement included in the company’s recent SEC Form 8-K filing.
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