SPACs just keep coming down the IPO highway. Two deals – ChampionsGate Acquisition Corp.(CHPGU) from sole book-runner Clear Street and Kochav Defense Acquisition Corp. (KCHVU) from sole book-runner SPAC Advisory Partners, a division of Kingswood Capital – raised a total of $285 million by pricing their IPOs on Tuesday night, May 27, 2025.
ChampionsGate Acquisition started trading at $10.02 at 10:46 a.m. EDT today – Wednesday, May 28 – on NASDAQ volume of 828,101.
Kochav Defense Acquisition opened for trading at $10.00 – its SPAC IPO price – at 10:49 a.m. EDT today – on NASDAQ volume of 908,051.
Both SPACs are incorporated in the Cayman Islands.
So far in May – with just two trading days to go – a total of 20 SPAC IPOs have made their debuts.
ChampionsGate Prices Scaled-Back IPO
ChampionsGate Acquisition Corp., based in Monterey, California, raised $65 million by pricing its SPAC IPO in sync with the terms in the prospectus – 6.5 million units at $10.00 each. ChampionsGate reduced the sized of its SPAC IPO by 67.5 percent from its original terms that called for 20.0 million units at $10.00 each, according to an S-1/A filing dated May 5, 2025.
Each unit of ChampionsGate Acquisition Corp. consists of one Class A ordinary share of stock andone right to receive one-eighth (1/8) of one share, according to the prospectus.
ChampionsGate Acquisition has not selected a sector or a geographic region of interest, the prospectus said.
Bala Padmakumar, the CEO and board chairman of ChampionsGate Acquisition, is an entrepreneur a strong background in strategic partnerships, product and business development, technology and operations, private equity and venture capital, according to the prospectus.
CFO Evan M. Graj is an experienced entrepreneur, investor and operator in the technology and digital retail spaces. He is the CEO of Fusion AI, a Singapore startup company he founded in September 2023 to deliver AI-powered marketing solutions.
Kochav Defense SPAC Raises $220 Million
New York-based Kochav Defense Acquisition Corp. stayed with its playbook. The SPAC priced 22.0 million units at $10.00 each to raise $220 million, in sync with the terms in the prospectus. Its name makes it focus clear. This SPAC intends to acquire a business in the defense and aerospace industries.
Each unit of Kochav Defense Acquisition Corp. consists of one Class A ordinary share and one right to receive one-seventh (1/7) of one share upon the consummation of an initial business combination.
CEO Menachem Shalom has been the CEO and a director of Nukkleus since September 2024, the prospectus said. Nukkleus (NUKK) is a public company focused on innovative acquisition companies specializing in identifying, acquiring, and transforming high-potential businesses across key sectors, including defense, financial services, real estate, industrial and technology.
CFO Asaf Yarkoni has been the CFO of Kamari Pharma Ltd., a biotech startup company developing drugs for rare genetic skin diseases, since 2021. He has also served since 2021 as the CFO of Aroma Republic Ltd., a high-tech startup company developing home tech fragrances, based on data-driven technology to create a customized scent product.
(For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on the IPOScoop.com website.)
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