Company: COPL-UN
Filing Date: 2025-04-01
Form Type: S-1/A
Source: 0001829126-25-002247
Chunk: 331

Company: Copley Acquisition Corp
Filing Date: 2025-04-01
Form: S-1/A
Chunk 331
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 a corporation (or other entity taxable as a corporation for                                                                           
 U.S. federal income tax purposes) organized in or under the laws of the United States, any state thereof or the District of Columbia; |

| ● | an estate the income of which is includible in gross income       
 for U.S. federal income tax purposes regardless of its source; or |

| ● | a trust, if (i) a court within the United States is able to                                                                           
 exercise primary supervision over the administration of the trust and one or more United States persons (as defined in the Code)      
 have authority to control all substantial decisions of the trust or (ii) it has a valid election in effect under Treasury Regulations 
 to be treated as a United States person.                                                                                              |

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Taxation of Distributions

Subject to the passive foreign
investment company (“PFIC”) rules discussed below, a U.S. holder generally will be required to include in gross income any
cash distribution paid on our ordinary shares that is treated as a dividend for U.S. federal income tax purposes. A cash distribution
on such shares generally will be treated as a dividend for U.S. federal income tax purposes to the extent the distribution is paid out
of our current or accumulated earnings and profits (as determined under U.S. federal income tax principles). Such dividends paid by us
will be taxable to a corporate U.S. holder at regular rates and will not be eligible for the dividends-received deduction generally allowed
to domestic corporations in respect of dividends received from other domestic corporations.

Subject to the PFIC rules discussed
below, distributions in excess of such earnings and profits generally will be applied against and reduce the U.S. holder’s basis
in its ordinary shares (but not below zero) and, to the extent in excess of such basis, will be treated as gain from the sale or exchange
of such ordinary shares.

With respect to non-corporate
U.S. holders, under tax laws currently in effect, dividends generally will be taxed at the lower applicable long-term capital gains rate
(see “— Gain or Loss on Sale, Taxable Exchange or Other Taxable Disposition of Class A Ordinary Shares and Warrants”
below) only if our ordinary shares are readily tradable on an established securities market in the United States, we are not a PFIC in
the taxable year in which the dividend was paid or in the previous year, and certain other requirements, including certain holding period
requirements, are met