Company: COPL-UN
Filing Date: 2025-02-03
Form Type: S-1/A
Source: 0001829126-25-000620
Chunk: 33

Company: Copley Acquisition Corp
Filing Date: 2025-02-03
Form: S-1/A
Chunk 33
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 mainland China of the People’s Republic of China because of a position
taken by one or more authorities in mainland China; and (2) Hong Kong, a Special Administrative Region and dependency of the PRC, because
of a position taken by one or more authorities in Hong Kong. In addition, the PCAOB’s report identified the specific registered
public accounting firms which are subject to these determinations (“2021 Determinations”). Our auditor, Withum Smith+Brown,
PC, is headquartered in the State of New Jersey, has been inspected by the PCAOB on a regular basis and is subject to laws in the U.S.
pursuant to which the PCAOB conducts regular inspections to assess its compliance with the applicable professional standards. Our auditors
are not included in the list of determinations announced by the PCAOB on December 21, 2021 in their HFCAA Determination Report under
PCAOB Rule 6100.

On December 15, 2022, the PCAOB Board determined that the PCAOB was able to secure complete access to inspect and investigate registered public accounting firms headquartered in mainland China and Hong Kong and voted to vacate its previous determinations to the contrary. The PCAOB vacated its previous 2021 Determinations accordingly. On December 29, 2022, the Consolidated Appropriations Act, 2023 (the “CAA”) was signed into law by President Biden. The CAA contained, among other things, an identical provision to the AHFCAA, which reduces the number of consecutive non-inspection years required for triggering the prohibitions under the HFCA Act from three years to two.

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As our independent registered public accounting firm, Withum Smith+Brown, PC, is headquartered in the state of New Jersey, we do not believe the HFCAA, as amended by the CAA, will affect our auditors or us.

Furthermore, as we will
not seek an initial business combination target that operates in the PRC, the combined company, at the close of our initial business
combination, is not expected to be subject to any of the aforementioned PRC regulations nor the HFCAA, as amended by the CAA.

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 or the non-managing sponsor member. In the event we seek to complete our initial business combination with a company that is affiliated with our sponsor, officers or directors or