The IPO Buzz: 2 SPACs – ChampionsGate & Kochav Defense – Raise $285 Million

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. Both SPAC IPOs  are expected to start trading today – Wednesday, May 28, 2025 – on NASDAQ. 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 and one 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.) Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board. To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message. Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions. Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums) is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. The SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.com. The SCOOP ratings should not be taken as investment advice. The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the  shifting of investor interest in the IPO. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy.