Company: COPL-UN
Filing Date: 2025-04-01
Form Type: S-1/A
Source: 0001829126-25-002247
Chunk: 200

Company: Copley Acquisition Corp
Filing Date: 2025-04-01
Form: S-1/A
Chunk 200
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 we will only complete an initial business combination
if the post-transaction company owns or acquires 50% or more of the outstanding voting securities of the target or otherwise acquires
a controlling interest in the target sufficient for it not to be required to register as an investment company under the Investment Company
Act. Even if the post-transaction company owns or acquires 50% or more of the voting securities of the target, our shareholders prior
to the initial business combination may collectively own a minority interest in the post-transaction company, depending on valuations
ascribed to the target and us in the initial business combination. For example, we could pursue a transaction in which we issue a substantial
number of new shares in exchange for all of the outstanding capital stock, shares or other equity interests of a target. In this case,
we would acquire a 100% controlling interest in the target. However, as a result of the issuance of a substantial number of new shares,
our shareholders immediately prior to our initial business combination could own less than a majority of our outstanding shares subsequent
to our initial business combination. If less than 100% of the equity interests or assets of a target business or businesses are owned
or acquired by the post-transaction company, the portion of such business or businesses that is owned or acquired is what will be taken
into account for purposes of NYSE’s 80% fair market value test. If the initial business combination involves more than one target
business, the 80% fair market value test will be based on the aggregate value of all of the transactions and we will treat the target
businesses together as the initial business combination for purposes of a tender offer or for seeking shareholder approval, as applicable.

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Other Acquisition Considerations

We are not prohibited
from pursuing an initial business combination with a company that is affiliated with our sponsor, officers or directors, any of the non-managing
sponsor investors, or any of their respective affiliates. In the event we seek to complete our initial business combination with a company
that is affiliated with our sponsor, officers or directors, or the non-managing sponsor investors, we, or a committee of independent
directors, will obtain an opinion from an independent entity that commonly renders valuation opinions that our initial business combination
is fair to our company from a financial point of view.

Unless we complete our initial
business combination with an affiliated entity, or our board of directors cannot independently determine the fair market value of the