ChampionsGate Acquisition Corporation has reported its financial results for the second quarter of 2025, revealing a net loss of $70,056 for the three months ending June 30, 2025, compared to a loss of $64,622 during the same period in 2024. The company’s formation and operating costs increased significantly to $162,486 from $32,717 year-over-year, while stock compensation expenses also rose to $155,904 from $31,905. The increase in costs is attributed to the company's ongoing efforts to prepare for its initial business combination following its recent IPO.
The company successfully completed its initial public offering on May 29, 2025, raising gross proceeds of $74,750,000 from the sale of 7,475,000 units, which included the full exercise of the underwriter's over-allotment option. Additionally, a private placement of 230,000 units generated $2,300,000. As a result, ChampionsGate's total assets surged to $75,900,620 as of June 30, 2025, compared to $295,105 at the end of the previous fiscal year. The trust account now holds $75,372,084, reflecting the funds raised during the IPO.
Operationally, the company has not yet commenced any business activities and has not generated any revenue. As of June 30, 2025, ChampionsGate had 8,617,125 Class A ordinary shares and 1,370,161 Class B ordinary shares outstanding. The company’s working capital stood at $89,900, indicating a need for further financing to support its acquisition plans. The management has expressed concerns regarding its ability to continue as a going concern if it fails to complete a business combination within the stipulated timeframe.
Looking ahead, ChampionsGate Acquisition Corporation is focused on identifying suitable business combination targets. The company has indicated that it will utilize the funds held in the trust account primarily for this purpose. However, it also faces challenges, including potential market volatility and the need to secure additional financing to cover operational costs and transaction expenses. The management remains optimistic about completing a business combination but acknowledges the inherent risks involved in the process.
About ChampionsGate Acquisition Corp
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