Company: COPL-UN
Filing Date: 2025-02-03
Form Type: S-1/A
Source: 0001829126-25-000620
Chunk: 144

Company: Copley Acquisition Corp
Filing Date: 2025-02-03
Form: S-1/A
Chunk 144
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man Islands exempted company or otherwise (absent any regulations and other additional guidance that may be issued in the future with retroactive effect). Even in the event such a tax was to be imposed, the proceeds placed in the trust account and the interest earned thereon are not intended be used to pay for possible excise tax.

However, in connection
with an initial business combination involving a company organized under the laws of the United States, it is possible that we domesticate
and continue as a Delaware corporation prior to certain redemptions and, because our securities are trading on the NYSE, it is possible
that we will be subject to the excise tax with respect to any subsequent redemptions, including redemptions related to extension votes
or in connection with the initial business combination, that are treated as repurchases for this purpose (other than, pursuant to recently
issued guidance from the U.S. Department of the Treasury, redemptions in complete liquidation of the company). In all cases, the
extent of the excise tax that may be incurred will depend on a number of factors, including the fair market value of our stock redeemed,
the extent such redemptions could be treated as dividends and not repurchases, and the content of any regulations and other additional
guidance from the U.S. Department of the Treasury that may be issued and applicable to the redemptions. Issuances of stock by a
repurchasing corporation in a year in which such corporation repurchases stock may reduce the amount of excise tax imposed with respect
to such repurchase. The excise tax is imposed on the repurchasing corporation itself, not the shareholders from which stock is repurchased.
The imposition of the excise tax as a result of redemptions in connection with the initial business combination could, however, reduce
the amount of cash available to pay redemptions or reduce the cash contribution to the target business in connection with our initial
business combination, which could cause the other shareholders of the combined company to economically bear the impact of such excise
tax.

We may reincorporate in another jurisdiction in connection with our initial business combination and such reincorporation may result in taxes imposed on shareholders.

We may, in connection with our initial business combination and subject to requisite shareholder approval under the Companies Act, reincorporate in the jurisdiction in which the target company or business is located. The transaction may require a shareholder to recognize taxable income in the jurisdiction in which the shareholder is a tax resident or in