Company: COPL-UN
Filing Date: 2025-04-01
Form Type: S-1/A
Source: 0001829126-25-002247
Chunk: 333

Company: Copley Acquisition Corp
Filing Date: 2025-04-01
Form: S-1/A
Chunk 333
---
 ordinary shares or warrants so disposed of. A U.S. holder’s adjusted tax basis in its Class A
ordinary shares or warrants generally will equal the U.S. holder’s acquisition cost (that is, as discussed above, the portion of
the purchase price of a unit allocated to a Class A ordinary share or the one-half of one warrant or, as discussed below, the U.S. holder’s
initial basis for Class A ordinary shares received upon exercise of warrants) less, in the case of a Class A ordinary share, any prior
distributions treated as a return of capital.

<div align='center'>203</div>

Redemption of Class A Ordinary Shares

Subject to the PFIC rules discussed
below, in the event that a U.S. holder’s Class A ordinary shares are redeemed, including pursuant to the redemption provisions
described in this prospectus under “Description of Securities — Ordinary Shares,” or if we purchase a U.S. holder’s
Class A ordinary shares in an open market transaction, the treatment of the transaction for U.S. federal income tax purposes will depend
on whether the redemption qualifies as sale of the Class A ordinary shares under Section 302 of the Code. If the redemption qualifies
as a sale of ordinary shares, the U.S. holder will be treated as described under “—U.S. Holders — Gain or Loss on Sale,
Taxable Exchange or Other Taxable Disposition of Class A Ordinary Shares and Warrants” above. If the redemption does not qualify
as a sale of Class A ordinary shares, the U.S. holder will be treated as receiving a corporate distribution with the tax consequences
described above under “—U.S. Holders — Taxation of Distributions.” Whether a redemption qualifies for sale treatment
will depend largely on the total number of our shares treated as held by the U.S. holder (including any shares constructively owned by
the U.S. holder as a result of owning warrants or otherwise) relative to all of our shares outstanding both before and after the redemption.
The redemption of Class A ordinary shares generally will be treated as a sale of the Class A ordinary shares (rather than as a corporate
distribution) if the redemption (i) is “substantially disproportionate” with respect to the U.S. holder, (ii) results in
a “complete termination” of the U.S. holder’s interest in us or (iii) is “not essentially equivalent to a dividend”
with respect to the U.S. holder. These tests