- CEO
- Boon Liat Lim
- Full Time Employees
- 2
- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- 419 Webster Street Monterey CA United States of America 93940
- IPO Date
- May 28, 2025
- Business
- ChampionsGate Acquisition Corporation (Nasdaq: CHPGU), a blank check company incorporated in the Cayman Islands, focuses on effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities; its efforts to identify prospective target businesses are not limited to any particular industry or geographic region. The company offers Class A ordinary shares and rights, with each right entitling the holder to receive one-eighth of one additional Class A ordinary share upon consummation of an initial business combination; units comprising one Class A ordinary share and one right trade under the ticker CHPGU, while separate shares and rights trade under CHPG and CHPGR, respectively. Founded in 2024 and headquartered at 419 Webster Street in Monterey, California, the company raised gross proceeds of $74.75 million through its initial public offering of 7,475,000 units at $10.00 each in May 2025, including the full exercise of the underwriter's over-allotment option.
Recent developments include the appointment of Boon Liat Timothy Lim as Chairman, Chief Executive Officer and director in October 2025, succeeding Bala Padmakumar who resigned from all positions on July 31, 2025 to pursue other opportunities; Lim brings over 20 years of executive leadership experience across Southeast Asia, including roles as President and Acting CEO at Dragon Group International Ltd and Executive Director at ASTI Holdings Ltd. The company also changed auditors in August 2025, dismissing UHY LLP and appointing TAAD LLP, and announced the separate trading of its Class A ordinary shares and rights commencing June 20, 2025; as of its third quarter 2025 10-Q filing, it reported a trust balance of approximately $76.2 million with 18 months from IPO closing (extendable to 27 months under certain conditions) to complete a business combination.