CHPGR
CHPG names Lim Chairman/CEO; $13.25k on DA, $13.25k on close; Padmakumar exit restated
2025-10-20 · ChampionsGate Acquisition
ChampionsGate Acquisition Corporation filed an 8-K dated October 20, 2025, for earliest event October 17, 2025, under Items 1.01, 5.02, 7.01, and 9.01. The Board appointed Boon Liat Timothy Lim, a Singapore national, age 60, as Chairman, CEO, and director, effective immediately on October 17, 2025. The filing restates that former Chairman, CEO, and director Bala Padmakumar resigned all positions effective July 31, 2025. In connection with the appointment, the Company extended an offer letter that Lim accepted on October 17, 2025. Compensation is contingent only: $13,250 if and when the Company enters a definitive agreement with a target, and another $13,250 if and when it consummates an initial business combination. An indemnification agreement was also executed the same day. Exhibits 10.1, 10.2, and press release 99.1 are attached; Item 7.01 furnishes the press release as non-filed FD disclosure. Lim holds no other positions with the Company, is not related to existing directors or officers, and is stated not to be a related person, promoter, or control person under Regulation 404(a). Background cited is Southeast Asia operating and board experience, including prior roles at Dragon Group International and ASTI Holdings. Close-path (Pulse): no target, LOI, or definitive agreement is announced; the filing is a leadership fill after a mid-summer CEO vacancy and does not advance combination mechanics. Cash (V): no trust, redemption, extension, or per-share cash figures are given; the $13,250 / $13,250 schedule is management contingent pay, not a change to escrowed cash. Registered securities remain units (CHPGU), Class A ordinary shares (CHPG), and rights (CHPGR), each whole right to acquire one-eighth of one Class A ordinary share, on Nasdaq. The filing does not name any acquisition target, deal valuation, timeline to DA or vote, extension terms, or redemption economics.
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