ChampionsGate Acquisition, a blank check company led by SPAC veteran Bala Padmakumar, raised $65 million by offering 6.5 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.
The SPAC is led by CEO and Chairman Bala Padmakumar, a broad based entrepreneur and technologist with prior blank check experience. 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 plans to list on the Nasdaq under the symbol CHPGU. Clear Street acted as sole bookrunner on the deal.
