STOCK TITAN

ChampionsGate (CHPG) delays Form 10-K; $74.75M IPO and $2.3M private placement

Filing Impact
(Very High)
Filing Sentiment
(Negative)
Form Type
NT 10-K

Rhea-AI Filing Summary

ChampionsGate Acquisition Corporation was unable to timely file its Annual Report on Form 10-K for the period ended December 31, 2025 and submitted a Form 12b-25 notification stating it requires additional time to assemble information. The company expects to file the Form 10-K no later than the fifteenth calendar day following the prescribed due date.

The notification discloses that ChampionsGate consummated an IPO on May 29, 2025 selling 7,475,000 Units at $10.00 per Unit, generating gross proceeds of $74,750,000. It also completed a private placement of 230,000 Units to ST Sponsor Investment LLC at $10.00 per Unit, generating $2,300,000. The company anticipates a significant change in results of operations for the year ended December 31, 2025 primarily due to the IPO.

Positive

  • None.

Negative

  • None.

Insights

Late 10-K filing flagged; IPO proceeds and private placement disclosed.

ChampionsGate filed a Form 12b-25 citing internal time needed to assemble information and expects to file the Form 10-K within the 15-day cure period. The submission transparently lists the IPO and private placement amounts tied to the company’s 2025 operations.

The near-term item to watch is the timely filing of the Form 10-K by the stated cure date; subsequent disclosures in that Form 10-K will clarify the nature and size of the “significant change in results” attributed to the IPO.

IPO Units sold 7,475,000 Units sold on May 29, 2025
IPO offering price $10.00 per Unit offering price stated in filing
IPO gross proceeds $74,750,000 gross proceeds from IPO on May 29, 2025
Private Placement Units 230,000 Units sold to ST Sponsor Investment LLC
Private placement proceeds $2,300,000 proceeds from private placement at $10.00 per Unit
Form 12b-25 cure period 15 days company expects to file within the 15-calendar-day cure period
Form 12b-25 regulatory
"notification of late filing and cure period statement"
Form 12b-25 is a notice a publicly traded company files with the U.S. Securities and Exchange Commission when it cannot deliver a required periodic report (like a quarterly or annual financial report) on time. It explains the reason for the delay and gives the company a short, temporary window to finish the report without being marked as delinquent; investors watch it because late filings can signal accounting, operational, or control issues that may affect a company’s reliability and stock risk, much like a missed homework deadline can raise concerns about a student’s preparedness.
Units financial
"Each Unit consists of one Class A ordinary share and one Right"
Units are bundled securities sold as one package in a financing—commonly a share paired with an instrument that gives the holder the right to buy more shares later. For investors this matters because a unit’s extra component can change future supply of shares and potential returns, similar to buying a combo with a coupon that can be redeemed later and alter what you actually receive and what others might own.
Right financial
"one Right to receive of one-eighth of one Class A ordinary share"

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

FORM 12b-25

NOTIFICATION OF LATE FILING

 

(Check One): Form 10-K Form 20-F Form 11-K Form 10-Q Form N-SAR Form N-CSR
   
  For Period Ended: December 31, 2025                               
   
  Transition Report on Form 10-K
  Transition Report on Form 20-F
  Transition Report on Form 11-K
  Transition Report on Form 10-Q
  Transition Report on Form N-SAR
   
  For the Transition Period Ended: ________________________

 

Nothing in this form shall be construed to imply that the Commission has verified any information contained herein.

 

If the notification relates to a portion of the filing checked above, identify the item(s) to which the notification relates:

 

PART I -- REGISTRANT INFORMATION

 

ChampionsGate Acquisition Corporation
Full name of registrant:
Former name if applicable:
 
419 Webster Street
Address of principal executive office (Street and number):
 
Monterey, CA 93940
City, state and zip code

 

 

 

 

 

PART II -- RULES 12b-25(b) AND (c)

 

If the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed. (Check box if appropriate.)

 

  (a) The reasons described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense;
(b) The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-SAR or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report of transition report on Form 10-Q or subject distribution report on Form 10-D, or portion thereof will be filed on or before the fifth calendar day following the prescribed due date; and
  (c) The accountant’s statement or other exhibit required by Rule 12b-25(c) has been attached if applicable.

 

PART III -- NARRATIVE

 

State below in reasonable detail the reasons why Forms 10-K, 20-F, 11-K, 10-Q, N-SAR, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed time period.

 

ChampionsGate Acquisition Corporation (the “Company”) was unable to file its Annual Report on Form 10-K on a timely basis without incurring undue hardship and expense, because the Company requires additional time to work internally to assemble certain information to finalize the Form 10-K. The Company anticipates that it will file the Form 10-K no later than the fifteenth calendar day following the prescribed filing date.

 

PART IV -- OTHER INFORMATION

 

(1) Name and telephone number of person to contact in regard to this notification

 

  Evan M. Graj, Chief Financial Officer   +1   (831)-204-7337
  (Name)   (Area Code)   (Telephone Number)

 

(2) Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed? If the answer is no, identify report(s).
  Yes     No
   
(3) Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof?
  Yes     No

 

If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.

 

The Company anticipates that there will be a significant change in its results of operations for the fiscal year ended December 31, 2025, as compared to the period from March 27, 2024 (inception) through December 31, 2024, primarily as a result of the Company’s initial public offering (the “IPO”) consummated on May 29, 2025.

 

On May 29, 2025, the Company consummated an IPO of 7,475,000 units (including 975,000 units issued upon the full exercise of the over-allotment option, the “Units”). Each Unit consists of one Class A ordinary share (the “Class A ordinary share”), $0.0001 par value per share, and one right (“Right”) to receive of one-eighth of one Class A ordinary share upon the completion of the initial business combination of the Company. The Units were sold at an offering price of $10.00 per Unit, generating total gross proceeds of $74,750,000.

 

Simultaneously with the consummation of the IPO and the sale of the Units, the Company consummated a private placement (the “Private Placement”) of 230,000 units (the “Private Placement Units”) to ST Sponsor Investment LLC, at a price of $10.00 per Private Placement Unit, generating total proceeds of $2,300,000. Each Private Placement Unit consists of one Class A ordinary share, and one Right to receive of one-eighth of one Class A ordinary share upon the completion of the Company’s initial business combination.

 

As a result of the consummation of the IPO and the Private Placement, the Company expects significant change in the results of the operation during the fiscal year ended December 31, 2025 compared to the period from March 27, 2024 (inception) through December 31, 2024.

 

 

 

ChampionsGate Acquisition Corporation

(Name of Registrant as Specified in Charter)

 

has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date: March 31, 2026 By /s/ Evan M. Graj  
    Evan M. Graj  
    Chief Financial Officer  

 

INSTRUCTION. The form may be signed by an executive officer of the registrant or by any other duly authorized representative. The name and title of the person signing the form shall be typed or printed beneath the signature. If the statement is signed on behalf of the registrant by an authorized representative (other than an executive officer), evidence of the representative's authority to sign on behalf of the registrant shall be filed with the form.

 

ATTENTION

 

Intentional misstatements or omissions of fact constitute Federal criminal violations. (See 18 U.S.C. 1001).

 

 

 

FAQ

Why did ChampionsGate (CHPG) file a Form 12b-25?

The company filed Form 12b-25 because it needed more time to assemble information to finalize the Form 10-K. The filing states the delay is to avoid undue hardship and expense and that the Form 10-K will be filed within the 15-day cure period.

Will ChampionsGate file its Form 10-K soon?

Yes. The company states it expects to file the Form 10-K no later than the fifteenth calendar day following the prescribed due date. That cure period is specified in the Form 12b-25 notification submitted by ChampionsGate.

How much did ChampionsGate raise in its IPO (May 29, 2025)?

ChampionsGate sold 7,475,000 Units at $10.00 per Unit, generating total gross proceeds of $74,750,000. The Units include rights exercisable on completion of an initial business combination as described in the filing.

What was the private placement disclosed by CHPG?

ChampionsGate completed a private placement of 230,000 Units to ST Sponsor Investment LLC at $10.00 per Unit, generating $2,300,000. Each Private Placement Unit mirrors the IPO Unit structure described in the notification.

Will the IPO affect ChampionsGate's 2025 results materially?

The company anticipates a significant change in results for the fiscal year ended December 31, 2025, compared to its 2024 inception period, and attributes that primarily to the May 29, 2025 IPO and related proceeds.