Company: COPL-UN
Filing Date: 2025-04-01
Form Type: S-1/A
Source: 0001829126-25-002247
Chunk: 15

Company: Copley Acquisition Corp
Filing Date: 2025-04-01
Form: S-1/A
Chunk 15
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 to herein as the “representative                  
 shares”, as part of representative compensation, which will be issued upon the consummation of this offering. See also “Underwriting”     
 for a description of underwriting compensation and other items of value payable to the underwriter.                                       |

Of the proceeds we receive
from this offering and the sale of the placement units described in this prospectus, $150,750,000 or $173,362,500 if the underwriters’
over-allotment option is exercised in full ($10.05 per unit) will be deposited into a U.S.-based trust account maintained with Continental
Stock Transfer & Trust Company acting as trustee. Except with respect to interest earned on the funds held in the trust account that
may be released to us to pay our tax obligations, if any, the funds held in the trust account will not be released from the trust account
until the earliest to occur of (a) the completion of our initial business combination, (b) the redemption of any public shares properly
submitted in connection with a shareholder vote to amend our amended and restated memorandum and articles of association (i) to modify
the substance or timing of our obligation to allow redemption in connection with our initial business combination or to redeem 100% of
our public shares if we do not complete our initial business combination within the completion window, or (ii) with respect to any other
material provisions relating to the rights of holders of Class A ordinary shares or pre-initial business combination activity and (c)
the redemption of our public shares if we are unable to complete our business combination within 18 months from the closing of this offering
(which can be extended two times without shareholder approval, each by an additional three months, for a total completion window of up
to 24 months) or by such earlier liquidation date as our board of directors may approve, subject to applicable law. Pursuant to our amended
and restated memorandum and articles of association, in order to avail ourselves to each individual three-month extension, we must deposit,
or cause to be deposited, into the trust account funds equal to the product of (x) $0.10 and (y) the number of public shares then issued
and outstanding. The proceeds deposited in the trust account could become subject to the claims of our creditors, if any, which could
have priority over the claims of our public shareholders. Public shareholders will not have voting or redemption rights with respect
to the first extension option and second extension option.

Because