Company: COPL-UN
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001829126-25-009051
Chunk: 13

Company: Copley Acquisition Corp
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 13
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 Offering and the Private Placement Warrants issued in the Private Placement in accordance
with the guidance contained in ASC Topic 815, “Derivatives and Hedging”. Accordingly, the Company evaluated and has classified
the warrant instruments under equity treatment at their assigned values. As of September 30, 2025, there were 8,902,947 warrants outstanding,
including 8,625,000 Public Warrants and 277,947 Private Placement Warrants (none outstanding as of December 31, 2024).

Cash and Cash Equivalents

The Company considers all short-term investments
with an original maturity of three months or less when purchased to be cash equivalents. As of September 30, 2025 and December 31, 2024, the
Company had cash of $92,221 and $0, respectively, and the Company had no cash equivalents as of September 30, 2025 or December 31, 2024.

Cash
                                                                                                                                                                and Investments Held in Trust Account

The Company’s portfolio of investments
held in the Trust Account is comprised of investments only in U.S. government securities with a maturity of 185 days or less or in
money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act which invest only in direct U.S.
government treasury obligations. The Company’s investments held in the Trust Account are classified as trading securities.
Trading securities are presented on the balance sheet at fair value at the end of each reporting period. Gains and losses resulting
from the change in fair value of investments held in Trust Account are included in dividends earned on marketable securities held in
Trust Account in the accompanying condensed statements of operations. The estimated fair value of investments held in the Trust
Account is determined using available market information. As of September 30, 2025 and December 31, 2024, the Trust Account had a
balance of $176,279,847
and $0,
respectively. The dividends earned from the Trust Account totaled $1,802,094
and $2,917,347 for the three and nine months ended September 30, 2025, respectively, which were fully reinvested into the Trust
Account as earned and unrealized gain on investments and therefore presented as an adjustment to the operating activities in the
condensed statement of cash flows.

Deferred Offering Costs

The Company complies with the requirements of ASC 340-10-S99-1 and SEC Staff Accounting Bulletin Topic 5