ChampionsGate Acquisition Corporation successfully completed its IPO, raising $74.75 million, with units now trading on Nasdaq.
Quiver AI Summary
ChampionsGate Acquisition Corporation announced the successful closing of its initial public offering, raising $74.75 million by selling 7,475,000 units at $10.00 each on May 29, 2025. The units, which trade under the Nasdaq ticker "CHPGU," include one Class A ordinary share and one right entitling holders to receive additional shares upon the completion of a business combination. This blank check company, sponsored by ST Sponsor Limited, aims to engage in mergers or similar business combinations across various industries and regions. The offering was managed by Clear Street LLC and legal counsel was provided by multiple firms. The announcement emphasizes that this press release does not constitute an offer or solicitation, and it includes forward-looking statements subject to risks and uncertainties.
Potential Positives
- ChampionsGate Acquisition Corporation successfully closed its initial public offering of 7,475,000 units, raising gross proceeds of $74.75 million, which reflects strong investor interest.
- The units began trading under the ticker symbol "CHPGU" on the Nasdaq Global Market, enhancing the company's visibility and credibility in the public market.
- The offering included the full exercise of the underwriter’s over-allotment option, indicating robust demand for the securities.
- The company is positioned to explore merger and acquisition opportunities across various industries and geographic regions, providing flexibility in its business strategy.
Potential Negatives
- The press release emphasizes that the company's future success is uncertain, relying on forward-looking statements that highlight various risks and uncertainties, which could deter potential investors.
- As a blank check company, ChampionsGate Acquisition Corporation lacks a defined business model or target, which may raise concerns about its long-term viability and attractiveness to investors.
- The disclaimer regarding the lack of approval from any securities regulatory authority could create apprehension among potential investors about the legitimacy and regulatory compliance of the offering.
FAQ
What is ChampionsGate Acquisition Corporation?
ChampionsGate Acquisition Corporation is a blank check company formed to effect a merger or business combination with various entities.
When did ChampionsGate start trading on NASDAQ?
The company began trading on the Nasdaq Global Market under the ticker symbol "CHPGU" on May 28, 2025.
How much did ChampionsGate raise in its IPO?
The initial public offering raised gross proceeds of $74.75 million before expenses and discounts.
What does each unit consist of?
Each unit consists of one Class A ordinary share and one Right, which entitles the holder to additional shares upon the merger closing.
Who acted as legal counsel for ChampionsGate?
Robinson & Cole LLP served as legal counsel to the Company during its initial public offering.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
Full Release
Monterey, CA, May 29, 2025 (GLOBE NEWSWIRE) -- ChampionsGate Acquisition Corporation (Nasdaq: CHPGU), a Cayman Islands exempted company (the “Company”), today announced that it closed its initial public offering of 7,475,000 units at $10.00 per unit, which includes the full exercise of the underwriter’s over-allotment option. The gross proceeds from the offering were $74.75 million before deducting underwriting discounts and estimated offering expenses. The units began trading on the Nasdaq Global Market ("Nasdaq") under the ticker symbol "CHPGU” on May 28, 2025.
The Company is a blank check company sponsored by ST Sponsor Limited (the “Sponsor”), a Cayman Islands exempted company, formed for the purpose of effecting into a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities. The Company’s efforts to identify a prospective target business will not be limited to a particular industry or geographic region .
Each unit consists of one Class A ordinary share, par value $0.0001 per share (a “Class A Ordinary Share”), and one right (a “Right”). Each Right entitles the holder to receive one-eighth of one Class A Ordinary Share at the closing of the initial business combination of the Company. Once the securities comprising the units begin separate trading, the Class A Ordinary Shares and the Rights are expected to be listed on Nasdaq under the symbols "CHPG" and "CHPGR", respectively.
Clear Street LLC (“Clear Street”) acted as the sole book-running manager in the offering.
FocalPoint Asia acted as the exclusive advisor to the Sponsor.
Robinson & Cole LLP served as legal counsel to the Company. Winston & Strawn LLP served as legal counsel to Clear Street.
The offering was made only by means of a prospectus, copies of which may be obtained from Clear Street, Attn: Syndicate Department, 150 Greenwich Street, 45th floor, New York, NY 10007, or by email at [email protected].
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission ("SEC") on May 14, 2025.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. No securities regulatory authority has either approved or disapproved of the contents of this press release.
About ChampionsGate Acquisition Corporation
ChampionsGate Acquisition Corporation is a blank check company incorporated in the Cayman Islands as an exempted company with limited liability for the purpose of effecting into a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities. Our efforts to identify a prospective target business will not be limited to a particular industry or geographic region.
Forward-Looking Statements
This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based. No assurance can be given that the offering discussed above will be completed on the terms described, or at all. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the registration statement and related preliminary prospectus filed by the Company with the SEC in connection with the Company’s initial public offering. Copies are available on the SEC's website, www.sec.gov . The Company undertakes no obligation to update these statements for revisions or changes after the date of this press release, except as required by law.
Contact Information:
ChampionsGate Acquisition Corporation
Bala Padmakumar
Chairman, Chief Executive Officer, and Director
419 Webster Street
Monterey, CA 93940
Email: [email protected]
