Company: COPL-UN
Filing Date: 2025-04-01
Form Type: S-1/A
Source: 0001829126-25-002247
Chunk: 377

Company: Copley Acquisition Corp
Filing Date: 2025-04-01
Form: S-1/A
Chunk 377
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 golden parachute payments
not previously approved.

Further, Section 102(b)(1)
of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until
private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class
of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS
Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging
growth companies but any such an election to opt out is irrevocable. The Company has elected not to opt out of such extended transition
period which means that when a standard is issued or revised and it has different application dates for public or private companies,
the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised
standard. This may make comparison of the Company’s financial statements with those of another public company which is neither
an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible
because of the potential differences in accounting standards used.

<div align='center'>F-9</div>

NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES(cont.)

Use of Estimates

The preparation of financial
statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses
during the reporting period.

Making estimates requires
management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation
or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate,
could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly
from those estimates.

Warrant Instruments

The Company will account for
the Public Warrants to be issued in connection with the Proposed Public Offering and the Private Placement Warrants to be issued in the
private placement in accordance with the guidance contained in Financial Accounting Standards Board (“FASB”) Accounting Standards
Codification (“ASC”) Topic 815, “Derivatives and Hedging”. Accordingly, the Company evaluated and will classify
the warrant instrument under equity treatment at its assigned value. There