Company: COPL-UN
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001829126-25-006317
Chunk: 13

Company: Copley Acquisition Corp
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 13
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 has accounted for the Public Warrants
issued in connection with the Initial Public Offering and the Private Placement Warrants issued in the Private Placement in accordance
with the guidance contained in ASC Topic 815, “Derivatives and Hedging”. Accordingly, the Company evaluated and has classified
the warrant instruments under equity treatment at their assigned values. As of June 30, 2025, there were 8,902,947 warrants outstanding,
including 8,625,000 Public Warrants and 277,947 Private Placement Warrants (none 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. As of June 30, 2025 and December 31, 2024, the
Company had cash of $160,520 and $0, respectively, and the Company had no cash equivalents as of June 30, 2025 or December 31, 2024.

Investments Held in Trust Account

The Company’s portfolio of investments
held in the Trust Account is comprised of investments only in U.S. government securities with a maturity of 185 days or less or in
money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act which invest only in direct U.S.
government treasury obligations. The Company’s investments held in the Trust Account are classified as trading securities.
Trading securities are presented on the balance sheet at fair value at the end of each reporting period. Gains and losses resulting
from the change in fair value of investments held in Trust Account are included in dividends earned on marketable securities held in
Trust Account in the accompanying condensed statements of operations. The estimated fair value of investments held in the Trust
Account is determined using available market information. As of June 30, 2025 and December 31, 2024, the Trust Account had a balance
of $174,477,753 and $0, respectively. The dividends earned from the Trust Account totaled $1,115,253 for the three and six months
ended June 30, 2025, which were fully reinvested into the Trust Account as earned and unrealized gain on investments and therefore
presented as an adjustment to the operating activities in the condensed statement of cash flows.

Deferred Offering Costs

The Company complies with the requirements of ASC 340-10-S99-1 and SEC Staff Accounting Bulletin Topic 5A