Company: COPL-UN
Filing Date: 2025-04-23
Form Type: S-1/A
Source: 0001829126-25-002866
Chunk: 374

Company: Copley Acquisition Corp
Filing Date: 2025-04-23
Form: S-1/A
Chunk 374
---
 with ASC Topic 815, “Derivatives and Hedging.” For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value on the grant date and is then re-valued at each reporting date, with changes in the fair value reported in the statement of operations. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative liabilities are classified in the balance sheet as current or non-current based on whether or not net cash settlement or conversion of the instrument could be required within 12 months of the balance sheet date. The underwriters’ over-allotment option is deemed to be a freestanding financial instrument indexed on the contingently redeemable shares and will be accounted for as a liability pursuant to ASC 480 if not fully exercised at the time of the Proposed Public Offering.

Recent Accounting Standards

In November 2023, the FASB
issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” The amendments in this
ASU require disclosures, on an annual and interim basis, of significant segment expenses that are regularly provided to the chief operating
officer decision maker (“CODM”), as well as the aggregate amount of other segment items included in the reported measure
of segment profit or loss. The ASU requires that a public entity disclose the title and position of the CODM and an explanation of how
the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources.
Public entities will be required to provide all annual disclosures currently required by Topic 280 in interim periods, and entities with
a single reportable segment are required to provide all the disclosures required by the amendments in this ASU and existing segment disclosures
in Topic 280. This ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning
after December 15, 2024, with early adoption permitted. This standard was effective for the Company for the year ended December 31, 2024
and did not have a material impact on our financial statements.

Management does not believe
that any other recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the
Company’s financial statements.

<div align='center'>F-11</div>

NOTE 3: PROPOSE