Company: COPL-UN
Filing Date: 2025-04-14
Form Type: S-1/A
Source: 0001829126-25-002621
Chunk: 175

Company: Copley Acquisition Corp
Filing Date: 2025-04-14
Form: S-1/A
Chunk 175
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 loaned amounts but no proceeds from our trust account would be used to repay such loaned amounts. Such loans may be convertible into Working Capital Units and Extension Units, respectively, at a price of $7.00 per unit at the option of the lender at the time of the business combination. The Working Capital Units and Extension Units would be identical to the placement units sold in the private placement. We do not expect to seek loans from parties other than our sponsor or an affiliate of our sponsor as we do not believe third parties will be willing to loan such funds and provide a waiver against any and all rights to seek access to funds in our trust account. |
| (6) | Estimated for 12 months. Includes estimated amounts that may also be used in connection with our initial business combination to fund a “no shop” provision and commitment fees for financing.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |

The rules of NYSE provide that at least 90% of the gross proceeds from this offering and the private placement be deposited in a trust account. Of the net proceeds of this offering and the sale of the placement units, $150,750,000 (or $173,362,500 if the underwriter’s over-allotment option is exercised in full), including $4,500,000 (or up to $5,175,000 depending on the extent to which the underwriter’s over-allotment option is exercised) of deferred underwriting commissions, will, upon the consummation of this offering, be placed in a U.S.-based trust account maintained by Continental Stock Transfer & Trust Company acting as trustee. The funds in the trust account will be invested or held only in either (i) U.S. government treasury bills with a maturity of 185 days or less or in money market funds investing solely in U.S. Treasuries and meeting certain conditions under Rule 2a-7 under the Investment Company Act, (ii) as uninvested cash, or (iii) an interest bearing bank demand deposit account or other accounts at a bank. To mitigate the risk that we might be deemed to be an investment company for purposes of the Investment Company Act, which risk increases the longer we hold investments in the trust account, we may, at any time (and will no later than 24 months from the closing of this offering) instruct the trustee to liquidate the investments held in the trust account and instead to hold the funds in the trust account in