Company: COPL-UN
Filing Date: 2025-04-14
Form Type: S-1/A
Source: 0001829126-25-002621
Chunk: 287

Company: Copley Acquisition Corp
Filing Date: 2025-04-14
Form: S-1/A
Chunk 287
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 consummate an initial business combination within the completion window, the proceeds from the sale of the private placement held in the trust account will be used to fund the redemption of our public shares (subject to the requirements of applicable law) and the placement units (and the underlying securities) will expire worthless. Further, if we seek shareholder approval, we will complete our initial business combination only if we obtain the approval of an ordinary resolution under Cayman Islands law and our amended and restated memorandum and articles of association. In such case, our sponsor and each member of our management team have agreed to vote their founder shares, placement shares and any public shares purchased during or after this offering in favor of our initial business combination. Otherwise, the placement units are identical to the units sold in this offering.

Pursuant to the terms of the sponsor’s operating agreement, the sponsor may not forfeit, transfer, exchange or amend the terms of the founder shares and placement units indirectly held by a non-managing sponsor investor without the consent of such non-managing sponsor investor. In connection with a business combination, we may need to seek the forfeiture, transfer, exchange or amendment of the terms of the founder shares and placement units, some of which are held indirectly by the non-managing sponsor investors, in which case the sponsor will need to obtain the consent of a non-managing sponsor investor prior to forfeiting, transferring, exchanging, or amending the terms of the founder shares and placement units indirectly held by such non-managing sponsor investor. If the sponsor is unable to obtain such consent, our ability to complete a business combination may be negatively impacted.

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In order to fund working capital deficiencies or finance transaction costs in connection with an intended initial business combination, our sponsor or an affiliate of our sponsor or certain of our officers and directors may, but are not obligated to, loan us funds as may be required, from time to time or at any time, in whatever amount they deem reasonable in their sole discretion. In addition, our sponsor or an affiliate of our sponsor or certain of our officers and directors may loan us funds to cover the cost of our extension options to allow additional time for us to complete an initial business combination. Such working capital loans and extension 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 units would be identical to the placement units sold in the private placement. If we do