Company: COPL-UN
Filing Date: 2025-04-01
Form Type: S-1/A
Source: 0001829126-25-002247
Chunk: 231

Company: Copley Acquisition Corp
Filing Date: 2025-04-01
Form: S-1/A
Chunk 231
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ivered by public holders who elected to redeem their shares.

If our initial proposed business
combination is not completed, we may continue to try to complete a business combination with a different target until the expiration
of the completion window.

Redemption of public shares and liquidation if no initial business combination

Our amended and restated
memorandum and articles of association provide that we have only 18 months from the closing of this offering (which can be extended two
times, each by an additional three months, for a total completion window of up to 24 months), or until such earlier date as our board
of directors may approve, to complete our initial business combination. 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. If we are
unable to complete our initial business combination within such completion window, we will: (i) cease all operations except for the purpose
of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter (and subject to lawfully available
funds therefor), redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the
trust account, including interest (less taxes payable and up to $100,000 of interest to pay dissolution expenses) divided by the number
of then outstanding public shares, which redemption will completely extinguish public shareholders’ rights as shareholders (including
the right to receive further liquidation distributions, if any), and (iii) as promptly as reasonably possible following such redemption,
subject to the approval of our remaining shareholders and our board of directors, liquidate and dissolve, subject in each case to our
obligations under Cayman Islands law to provide for claims of creditors and the requirements of other applicable law. There will be no
redemption rights or liquidating distributions with respect to our warrants, which will expire worthless if we fail to complete our initial
business combination within the completion window.

Our sponsor, officers and directors
have agreed to waive their rights to liquidating distributions from the trust account with respect to their founder shares and placement
shares, as applicable, if we fail to complete our initial business combination within the completion window. However, if our sponsor,
officers or directors acquire