Company: COPL-UN
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001829126-25-006317
Chunk: 21

Company: Copley Acquisition Corp
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 21
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 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 this 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
will equal, in the aggregate, 25% of the sum of (i) the Founder Shares and public shares issued and outstanding upon the completion of
this offering (including any public shares issued pursuant to the exercise of the underwriters’ over-allotment option), plus (ii)
the total number of Class A ordinary shares issued or deemed issued or issuable upon the conversion or exercise of any equity-linked
securities issued or deemed issued, in connection with the closing of the Initial Business