Company: COPL-UN
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001829126-25-009051
Chunk: 6

Company: Copley Acquisition Corp
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 6
---
 specific business combination under consideration with any prospective target business. The Company’s efforts to identify
a prospective target business are not limited to a particular industry or geographic location but are initially focused in the Asia Pacific
and North American regions. The Company executive officers and directors are located in Hong Kong, with significant ties to Hong Kong
and, to a lesser degree, the People’s Republic of China, Hong Kong, Taiwan and Macau, collectively referred to as “PRC”.
Further, due to the fact that most of the Company’s executive officers and directors are located in or have significant ties to
the PRC, it may make the Company a less attractive partner to certain potential target businesses, outside the PRC, than a non-PRC related
Special Purpose Acquisition Company (“SPAC”). However, the Company will not undertake its initial Business Combination with
any company being based in or having a majority of its operations in the PRC. The Company is an early stage and emerging growth company
and, as such, the Company is subject to all of the risks associated with early stage and emerging growth companies.

As of September 30, 2025, the Company had not yet
commenced any operations. All activity for the period from November 26, 2024 (inception) through September 30, 2025 relates to the
Company’s formation and the initial public offering (the “Initial Public Offering”), which is described below. The
Company will not generate any operating revenues until after the completion of a Business Combination, at the earliest. The Company
will generate non-operating income in the form of interest and dividend income from the proceeds derived from the Initial Public
Offering, which will be held in the Trust Account for potential redemption of the Public Shares (as described below). The Company
has selected December 31 as its fiscal year end.

The Company’s founder and sponsor is Copley Acquisition Sponsors, LLC (the “Sponsor”).

Financing

The registration statement for the Company’s Initial Public Offering was declared effective on April 30, 2025. On May 2, 2025, the Company consummated the Initial Public Offering of 17,250,000 units including 2,250,000 additional public units as the underwriters’ over-allotment option was exercised in full (the “Units”),  at $10.00 per Unit, generating gross proceeds of $172,500,000. Each Unit consists of one Class A ordinary share (“