Company: COPL-UN
Filing Date: 2025-04-01
Form Type: S-1/A
Source: 0001829126-25-002247
Chunk: 376

Company: Copley Acquisition Corp
Filing Date: 2025-04-01
Form: S-1/A
Chunk 376
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 of its financing and acquisition plans. In connection with the Company’s assessment of going concern considerations in
accordance with Accounting Standards Update 2014-15, “Disclosures of Uncertainties about an Entity’s
Ability to Continue as a Going Concern,” management had determined that the Company lacks the financial resources it needs to sustain
operations for a reasonable period of time, which is considered to be one year from the date of the issuance of the financial statements.
These conditions raise substantial doubt about the Company’s ability to continue as a going concern. Management plans to address
this uncertainty through the Proposed Public Offering, as discussed in Note 3. Further, management has determined that the Company has
access to funds from the Sponsor, and the Sponsor has the financial ability to provide such funds, that are sufficient to fund the working
capital needs of the Company until the earlier of the consummation of the Proposed Public Offering or in excess of one year from the
date of issuance of these financial statements, which also includes $700,000 in the form of a promissory note from the Sponsor payable
on the earlier of the closing of the Proposed Public Offering or from working capital. There is no assurance that the Company’s
plans to raise capital or to consummate a Business Combination will be successful within the Completion Window. The financial statements
do not include any adjustments that might result from the outcome of this uncertainty.

NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying financial
statements are presented in conformity with accounting principles generally accepted in the United States of America (“GAAP”)
and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”).

Emerging Growth Company

The Company is an “emerging
growth company,” as defined in Section 2(a) of the Securities Act of 1933, as amended (the “Securities Act”),
as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions
from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but
not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act,
reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the
requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any