Championsgate Acquisition (NASDAQ:CHPGU) Trading Up 0.5% – Time to Buy?

Shares of Championsgate Acquisition Corp (NASDAQ:CHPGU) shot up 0.5% during mid-day trading on Thursday . The stock traded as high as $10.49 and last traded at $10.29. 200 shares traded hands during trading, The stock had previously closed at $10.24.

Championsgate Acquisition Stock Up 0.5%

Championsgate Acquisition Company Profile

Championsgate Acquisition (NASDAQ:CHPGU) is a special purpose acquisition company (SPAC) formed to raise capital through a public offering of units for the purpose of identifying, acquiring, or merging with one or more businesses. As a blank‑check vehicle, the company’s primary business activity is to seek and complete a business combination that would result in its target company becoming a publicly traded entity through the SPAC structure.

The typical activities of a SPAC like Championsgate Acquisition include conducting an initial public offering of units, holding the proceeds in a trust account while pursuing potential acquisition targets, negotiating and structuring a business combination, and obtaining shareholder approval to complete a transaction.