Company: COPL-UN
Filing Date: 2025-06-13
Form Type: 10-Q
Source: 0001829126-25-004483
Chunk: 27

Company: Copley Acquisition Corp
Filing Date: 2025-06-13
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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 one Class A ordinary share and one-half of one Public Warrant, resulting in the issuance of 17,250,000 Class A ordinary
shares and 8,625,000 Public Warrants.

Simultaneously with the closing of the Initial
Public Offering, the Company consummated the Private Placement of 555,893
units including 56,250
additional Private Placement Units as the underwriters’ over-allotment option was exercised in full to the Sponsor, at a price
of $10.00 per unit for the first 67,500
Private Placement Units purchased and at a price of $7.00
per unit for the remaining 488,393
Private Placement Units purchased, generating total proceeds of $4,093,750. Each Private Placement Unit consists of one Class A ordinary share and one-half of one Private Placement Warrant, resulting in the issuance
of 488,393 Class A ordinary shares and 277,947 Private Placement Warrants.

See Notes 1, 3 and 4 for additional information.

Promissory Note – Related Party

On April 18, 2025, the Promissory Note was
amended and restated, resulting in a reduction of the maximum aggregate principal amount from $700,000
to $525,000
(see Note 5). On May 2, 2025, the $251,803
balance due to the Sponsor was transferred into the Promissory Note. On May 30, 2025, $105,194
of these borrowings were repaid using proceeds not held in the Trust Account, resulting in a balance of $146,609,
which was transferred into a Working Capital Loan on June 12, 2025. Following the repayment and transfer, the Promissory Note was settled in full,
and no further borrowings are permitted under its terms.

Working Capital Loans

On June 12, 2025, the Company entered into a Working Capital Loan with the Sponsor, pursuant to which the Company may borrow up to $450,000.
The Working Capital Loan is non-interest bearing and matures on the earlier of (i) the date on which the Business Combination is consummated
and (ii) the Company’s liquidation and is subject to conversion into units (as disclosed in Note 5). On June 12, 2025, the $146,609 balance on the Promissory Note was transferred into
the Working Capital Loan.

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Item