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ChampionsGate Acquisition Corporation (NASDAQ:CHPGU, (NASDAQ:CHPG), NASDAQ:CHPGR), a $100 million market cap company currently trading at $10.18, announced a change in its independent registered public accounting firm. On Thursday, the company’s audit committee approved the dismissal of UHY LLP and the appointment of TAAD LLP as the new auditor, both moves effective immediately.
According to a statement in the company’s SEC filing, UHY LLP had audited ChampionsGate Acquisition’s financial statements for the period from March 27, 2024 (inception), through December 31, 2024. UHY LLP’s report for that period did not include an adverse opinion, disclaimer of opinion, or any qualification or modification regarding uncertainties, audit scope, or accounting principles, except for an explanatory paragraph about substantial doubt regarding the company’s ability to continue as a going concern.
The filing states that, during the period from inception through December 31, 2024, and in the subsequent interim periods through Monday, there were no disagreements with UHY LLP related to accounting principles, practices, financial statement disclosure, or auditing scope or procedures. The company also reported that there were no reportable events as defined by SEC regulations.
ChampionsGate Acquisition provided UHY LLP with a copy of these disclosures and requested a letter from the firm addressed to the Securities and Exchange Commission, confirming its agreement with the statements made in the filing.
The audit committee also authorized the engagement of TAAD LLP as the new independent registered public accounting firm for the fiscal year ending December 31, 2025. The company stated that, prior to this appointment, neither ChampionsGate Acquisition nor anyone on its behalf consulted with TAAD LLP regarding any accounting principles, auditing matters, or any reportable events.
This information is based on a press release statement contained in the company’s recent SEC filing.
In other recent news, ChampionsGate Acquisition Corp successfully completed its initial public offering, raising $74.75 million. The IPO involved the issuance of 7,475,000 units, which included the underwriter’s full exercise of the option to purchase an additional 975,000 units to cover over-allotments. Each unit was priced at $10.00 and comprised one Class A ordinary share and one right to acquire one-eighth of a Class A share upon completion of an initial business combination. In addition to the public offering, ChampionsGate conducted a private placement of 230,000 units to its sponsor, ST Sponsor Investment LLC, resulting in an additional $2.3 million in proceeds. The units in this private placement were also priced at $10.00 each. These recent developments highlight the company’s efforts to secure significant capital through both public and private offerings.
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