Company: COPL-UN
Filing Date: 2025-02-03
Form Type: S-1/A
Source: 0001829126-25-000620
Chunk: 266

Company: Copley Acquisition Corp
Filing Date: 2025-02-03
Form: S-1/A
Chunk 266
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 association, if we are unable to complete our initial business combination within the completion window, or by such earlier liquidation date as our board of directors may approve, we will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but no more than ten business days thereafter, 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. Our sponsor, officers and directors have entered into a letter agreement with us, pursuant to which they have agreed to waive their rights to liquidating distributions from the trust account with respect to their founder shares and placement shares if we fail to complete our initial business combination within the completion window. However, if our sponsor, officers or directors acquire public shares after this offering, they will be entitled to liquidating distributions from the trust account with respect to such public shares if we fail to complete our initial business combination within the prescribed time period.

If we are unable to complete
an initial business combination within the completion window, we may seek an amendment to our amended and restated memorandum and articles
of association to extend the period of time we have to complete an initial business combination. Amending our amended and restated memorandum
and articles of association will require at least a special resolution of our shareholders as a matter of Cayman Islands law, meaning
that such an amendment be approved by a majority of at least two-thirds (2/3) of the votes cast by such shareholders as, being entitled
to do so, vote in person or, where proxies are allowed, by proxy at a general meeting. If we seek shareholder approval to extend the
completion window, we will offer our public shareholders the right to have their public shares redeemed for a pro rata share of the aggregate
amount then on deposit in the trust account, as described in greater detail in this prospectus. There are