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ChampionsGate Acquisition Corporation (Nasdaq: CHPGU) announced the appointment of Boon Liat Timothy Lim as Chief Executive Officer, Chairman and director effective Oct. 20, 2025. Mr. Lim brings more than two decades of executive leadership and operational experience in Southeast Asia and has served as an independent consultant since Jan. 2022. He held senior roles at Dragon Group International from 2006–2021 and at ASTI Holdings from 2004–Dec. 2021, including executive director and acting CEO responsibilities. Mr. Lim succeeds Bala Padmakumar, who departed on July 31, 2025. The board highlighted Mr. Lim’s business management experience and regional relationships as key to advancing the company’s search for a business combination.
ChampionsGate Acquisition Corporation (NASDAQ: CHPGU) has successfully completed its initial public offering, raising $74.75 million by selling 7,475,000 units at $10.00 per unit. The offering includes the full exercise of the underwriter's over-allotment option. Each unit comprises one Class A ordinary share and one right, with each right convertible to one-eighth of a Class A ordinary share upon the company's initial business combination.
Trading began on the Nasdaq Global Market under "CHPGU" on May 28, 2025. The company, sponsored by ST Sponsor Limited, is a blank check company aiming to merge or combine with existing businesses across any industry or region. Clear Street LLC served as the sole book-running manager, while FocalPoint Asia acted as the Sponsor's exclusive advisor.
ChampionsGate Acquisition Corporation announced the pricing of its $65 million IPO, offering 6.5 million units at $10.00 per unit. Each unit includes one Class A ordinary share and one right to receive one-eighth of one Class A ordinary share. The units will trade on Nasdaq under "CHPGU" starting May 28, 2025, with shares and rights later trading separately under "CHPG" and "CHPGR".
The company is a blank check company incorporated in the Cayman Islands, seeking to pursue a business combination. Clear Street is serving as the sole book-running manager, with a 45-day option to purchase up to 975,000 additional units for over-allotments. The offering is expected to close on May 29, 2025.
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