Company: COPL-UN
Filing Date: 2025-06-13
Form Type: 10-Q
Source: 0001829126-25-004483
Chunk: 17

Company: Copley Acquisition Corp
Filing Date: 2025-06-13
Form: 10-Q
Item: Part I, Item 1
Chunk 17
---
 per share. The Sponsors collectively own, on an as-converted basis, 25% of the Company’s issued and outstanding Public Shares and Founder Shares after the Initial Public Offering.

    12

The Founder Shares are identical to the Class A ordinary shares included in the Units sold in the Initial Public Offering, except that:

    ●
    the Founder Shares are subject to certain transfer restrictions; 

    ●
    the Founder Shares holders have the exclusive right to vote, prior to the initial Business Combination, on the appointment or removal of the members of the board of directors; and 

    ●
    the Founder Shares are entitled to registration rights. 

The initial shareholders, Sponsor, officers and directors have entered into a letter agreement, pursuant to which they have agreed to (i) waive their redemption rights with respect to any Founder Shares and public shares they hold in connection with the completion of an initial Business Combination, (ii) waive their redemption rights with respect to any Founder Shares and public shares they hold in connection with a shareholder vote to approve an amendment to the amended and restated memorandum and articles of association to modify the substance or timing of the Company’s obligation to redeem 100% of its public shares if the Company has not consummated an initial Business Combination within the completion window or with respect to any other material provisions relating to shareholders’ rights or pre-initial Business Combination activity, and (iii) waive their rights to liquidating distributions from the Trust Account with respect to any Founder Shares they hold if the Company fails to complete an initial Business Combination within the completion window.

The Founder Shares will automatically convert
into Class A ordinary shares in connection with the consummation of the initial Business Combination or earlier at the option of the holder
on a one-for-one basis, subject to adjustment for share subdivisions, share capitalizations, reorganizations, recapitalizations and the
like, and subject to further adjustment as provided. In the case that additional Class A ordinary shares, or equity-linked securities,
are issued or deemed issued in excess of the amounts sold in the Company’s initial public offering and related to or in connection
with the closing of the initial Business Combination, the ratio at which Class B ordinary shares convert into Class A ordinary shares
will be adjusted (unless the holders of a majority of the issued and outstanding Class B ordinary shares agree to waive such anti-dilution
adjustment with respect to any such issuance or deemed issuance) so that the number of Class A ordinary shares issuable upon conversion
of all Class B ordinary shares