Company: COPL-UN
Filing Date: 2025-04-01
Form Type: S-1/A
Source: 0001829126-25-002247
Chunk: 378

Company: Copley Acquisition Corp
Filing Date: 2025-04-01
Form: S-1/A
Chunk 378
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 are no Public Warrants or Private Placement Warrants currently
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. The Company has no cash
and cash equivalents as of December 31, 2024.

Deferred Offering Costs

The Company complies with
the requirements of ASC 340-10-S99-1 and SEC Staff Accounting Bulletin Topic 5A, “Expenses of Offering.” Deferred
offering costs consist of legal, accounting, and other costs (including underwriting discounts and commissions) incurred through the
balance sheet date that are directly related to the Proposed Public Offering. FASB ASC 470-20, “Debt with Conversion and Other
Options,” addresses the allocation of proceeds from the issuance of convertible debt into its equity and debt components. The
Company applies this guidance to allocate Proposed Public Offering proceeds from the Units between Class A ordinary shares and
warrants, using the residual method by allocating Proposed Public Offering proceeds first to assigned value of the warrants and then
to the Class A ordinary shares. Offering costs allocated to the Class A ordinary shares will be charged to temporary equity and
offering costs allocated to the Public and Private Placement Warrants will be charged to shareholder’s equity (deficit) as the
Public and Private Placement Warrants, after management’s evaluation, will be accounted for under equity treatment. Should the
Proposed Public Offering prove to be unsuccessful, these deferred costs, as well as additional expenses to be incurred, will be
charged to operations. As of December 31, 2024, the Company had deferred offering costs of $436,025.

Net Loss per Ordinary Share

The Company complies with
accounting and disclosure requirements of ASC Topic 260, “Earnings Per Share.” Net loss per ordinary share is computed by
dividing net loss by the weighted average number of ordinary shares outstanding during the period, excluding Class A ordinary shares
subject to forfeiture. At December 31, 2024, the Company did not have any dilutive securities and other contracts that could, potentially,
be exercised or converted into ordinary shares and then share in the earnings of the Company. As a result, diluted loss per ordinary
share is the same as basic loss per ordinary share for the period presented.

<div align='center'>F-10</div>

NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POL