Business Context and Reporting Period
Company: ChampionsGate Acquisition Corporation (ChampionsGate)
Filing Type: Form 8-K (Current Report)
Date of Report: August 5, 2025
Event Date: July 31, 2025
Context: The Company, incorporated on March 27, 2024, is a Cayman Islands entity with securities trading on The Nasdaq Stock Market LLC. This filing reports the dismissal of its former independent registered public accounting firm and the appointment of a new firm.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity for the current period. The document notes that the prior auditor's report for the period ending December 31, 2024, included an explanatory paragraph regarding substantial doubt about the Company's ability to continue as a going concern.
Material Changes
- Dismissal of Auditor: On July 31, 2025, the audit committee authorized the immediate dismissal of UHY LLP as the independent registered public accounting firm.
- Appointment of New Auditor: On July 31, 2025, the audit committee authorized the immediate engagement of TAAD, LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025.
- Audit History: UHY LLP audited financial statements from inception (March 27, 2024) through December 31, 2024. The report contained no adverse opinions, disclaimers, or qualifications, aside from the going concern explanatory paragraph.
- Disagreements: The Company reported no disagreements with UHY LLP regarding accounting principles, practices, financial statement disclosures, or auditing scope/procedures during the period from inception through August 5, 2025.
Guidance, Outlook, and Risks
Management Commentary: The filing confirms that no consultations were held with the new auditor (TAAD, LLP) regarding accounting principles or audit opinions prior to their engagement. Additionally, no "disagreements" or "reportable events" as defined in Regulation S-K occurred between the Company and the new auditor.
Risks and Contingencies: The primary risk highlighted is the previously disclosed substantial doubt about the Company's ability to continue as a going concern, as noted in the prior auditor's report. The change in auditors itself is a material event requiring investor attention, though the filing states no underlying accounting disputes caused the change.
Investor Verification Checklist
- Verify the reasons for the dismissal of UHY LLP and the selection of TAAD, LLP, given the absence of reported accounting disagreements.
- Review the attached Exhibit 16.1 (Letter from UHY LLP) to confirm the former auditor's stance on the dismissal and the Company's disclosures.
- Assess the current status of the "substantial doubt about going concern" noted in the December 31, 2024, audit report.
- Monitor upcoming filings for the appointment of a new auditor's report and any updates on the Company's liquidity and operational status.