ChampionsGate Acquisition, a blank check company led by SPAC veteran Bala Padmakumar, filed on Monday with the SEC to raise up to $200 million in an initial public offering.
The Monterey, CA-based company plans to raise $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one right to receive one-eighth of a share upon the completion of an initial business combination. At the proposed deal size, ChampionsGate Acquisition would command a market value of $263 million.
The SPAC is led by CEO and Chairman Bala Padmakumar, a broad based entrepreneur and technologist. Padmakumar's prior SPAC experience includes serving as Chairman of Four Leaf Acquisition (FORLU), which went public in March 2023 and is still searching for a target, and serving as CEO of Monterey Capital Acquisition, which merged with ConnectM Technology Solutions (CNTM; -92% from $10 offer price) in July 2024.
ChampionsGate Acquisition has not selected a target industry or geography, but plans to focus on businesses with a competitive advantage in their core business that are positioned to bring in high returns and long-term sustainable growth.
ChampionsGate Acquisition was founded in 2024 and plans to list on the Nasdaq under the symbol CHPGU. The company filed confidentially on July 23, 2024. Clear Street is the sole bookrunner on the deal.
