Company: COPL-UN
Filing Date: 2025-04-01
Form Type: S-1/A
Source: 0001829126-25-002247
Chunk: 176

Company: Copley Acquisition Corp
Filing Date: 2025-04-01
Form: S-1/A
Chunk 176
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 reflect any dilution associated with the sale and exercise
of warrants, including the placement warrants, which would cause the actual dilution to the public shareholders to be higher, particularly
where a cashless exercise is utilized. Net tangible book value per share is determined by dividing our net tangible book value, which
is our total tangible assets less total liabilities (including the value of Class A ordinary shares which may be redeemed for cash),
by the number of issued and outstanding Class A ordinary shares.

The below calculations
(A) assume that (i) no ordinary shares are issued to shareholders of a potential business combination target as consideration or issuable
by a post-business combination company, for instance under an equity or employee share purchase plan, (ii) no ordinary shares and convertible
equity or debt securities are issued in connection with additional financing that we may seek in connection with an initial business
combination, (iii) no working capital loans and extension loans are converted into Working Capital Units and Extension Units, respectively,
as further described in this prospectus and (iv) no value is attributed to the warrants, and (B) assume the issuance of 15,000,000 Class
A ordinary shares (or 17,250,000 Class A ordinary shares if the over-allotment option is exercised in full) and 5,750,000 founder shares
(up to 750,000 of which are assumed to be forfeited in the scenario in which the over-allotment option is not exercised in full). The
issuance of additional ordinary or preference shares to shareholders of a potential business combination target as consideration could
significantly dilute the equity interest of investors in this offering. For example, if we consummate a business combination with a potential
business combination target with an agreed upon consideration of $600 million assuming an all-share transaction, the shareholders
of the potential business combination target would be issued 60 million shares, which would dilute the interest of our shareholders.
Such dilution would even further increase if the anti-dilution provisions in the Class B ordinary shares resulted in the issuance of
Class A ordinary shares on a greater than one-for-one basis upon conversion of the Class B ordinary shares. Additionally, in the event
that following this offering we obtain working capital loans or extension loans, such loans may be convertible into Working Capital Units
or Extension Units, respectively, at a price of $7.00 per unit at the option of the lender. Should we seek to obtain additional financing
to complete our initial business