Company: COPL-UN
Filing Date: 2025-02-18
Form Type: S-1/A
Source: 0001829126-25-001063
Chunk: 10

Company: Copley Acquisition Corp
Filing Date: 2025-02-18
Form: S-1/A
Chunk 10
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 except to the extent they receive liquidating distributions from assets outside the trust account, which could create an incentive for our sponsor, executive officers and directors to complete a transaction even if we select an acquisition target that subsequently declines in value and is unprofitable for public shareholders. Further, each of our officers and directors may have a conflict of interest with respect to evaluating a particular business combination if the retention or resignation of any such officers and directors was included by a target business as a condition to any agreement with respect to our initial business combination. Upon consummation of this offering, we will repay up to $700,000 in loans made to us by our sponsor to cover offering-related and organizational expenses. In order to fund working capital deficiencies, finance transaction costs in connection with an intended initial business combination, or cover the cost of the extension options available to us under our amended and restated memorandum and articles of association, our sponsor or an affiliate of our sponsor or certain of our directors and officers may, but are not obligated to, loan us funds as may be required. If we complete our initial business combination, we would repay such loaned amounts out of the proceeds of the trust account released to us. Otherwise, such loans would be repaid only out of funds held outside the trust account. The full amount of such loans may be convertible into units at the time of the business combination at a price of $10.00 per unit at the option of the lender. The amount of such loans to fund working capital deficiencies or finance transaction costs in connection with an intended initial business combination which we may receive is uncertain, as is the extent to which the lender(s) of such loans would elect to convert the loans into units instead of receiving cash. Based on the size of this proposed offering, up to $3,450,000 in extension loans (assuming the underwriters exercise their over-allotment option, and no public shares have been redeemed at the time of each extension), may be convertible into units at the time of the business combination at a price of $10.00 per unit, at the option of the lender. See the sections titled “Summary — Sponsor Information,” “Summary — The Offering — Limited payments to insiders,” “Summary — The Offering — Conflicts of Interest”, “Risk Factors — Risks Relating to our Sponsor and Management Team — Since our sponsor, officers and directors and any other holder of our founder shares, including our non-managing sponsor member, will lose their entire investment in us if our initial business combination is not completed