Company: COPL-UN
Filing Date: 2025-04-01
Form Type: S-1/A
Source: 0001829126-25-002247
Chunk: 230

Company: Copley Acquisition Corp
Filing Date: 2025-04-01
Form: S-1/A
Chunk 230
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, this fee would be incurred regardless of whether or not we require holders seeking to exercise redemption
rights to tender their shares. The need to deliver shares is a requirement of exercising redemption rights regardless of the timing of
when such delivery must be effectuated.

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In order to perfect redemption
rights in connection with their business combinations, many blank check companies would distribute proxy materials for the shareholders’
vote on an initial business combination, and a holder could simply vote against a proposed business combination and check a box on the
proxy card indicating such holder was seeking to exercise his or her redemption rights. After the business combination was approved,
the company would contact such shareholder to arrange for him or her to deliver his or her certificate to verify ownership. As a result,
the shareholder then had an “option window” after the completion of the business combination during which he or she could
monitor the price of the company’s shares in the market. If the price rose above the redemption price, he or she could sell his
or her shares in the open market before actually delivering his or her shares to the company for cancellation. As a result, the redemption
rights, to which shareholders were aware they needed to commit before the general meeting, would become “option” rights surviving
past the completion of the business combination until the redeeming holder delivered its certificate. The requirement for physical or
electronic delivery prior to the general meeting ensures that a redeeming holder’s election to redeem is irrevocable once the business
combination is approved.

Any request to redeem such shares,
once made, may be withdrawn at any time up to the date set forth in the tender offer materials or the date of the general meeting set
forth in our proxy materials, as applicable. Furthermore, if a holder of a public share delivered its certificate in connection with
an election of redemption rights and subsequently decides prior to the applicable date not to elect to exercise such rights, such holder
may simply request that the transfer agent return the certificate (physically or electronically). It is anticipated that the funds to
be distributed to holders of our public shares electing to redeem their shares will be distributed promptly after the completion of our
initial business combination.

If our initial business combination
is not approved or completed for any reason, then our public shareholders who elected to exercise their redemption rights would not be
entitled to redeem their shares for the applicable pro rata share of the trust account. In such case, we will promptly return any certificates
del