Company: COPL-UN
Filing Date: 2025-04-14
Form Type: S-1/A
Source: 0001829126-25-002621
Chunk: 65

Company: Copley Acquisition Corp
Filing Date: 2025-04-14
Form: S-1/A
Chunk 65
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 the underwriter its deferred underwriting commissions, to pay all or a portion of the consideration payable to the target or owners of the target of our initial business combination and to pay other expenses associated with our initial business combination. If our initial business combination is paid for using equity or debt securities, or not all of the funds released from the trust account are used for payment of the consideration in connection with our initial business combination, we may apply the balance of the cash released to us from the trust account for general corporate purposes, including for maintenance or expansion of operations of post-transaction businesses, the payment of principal or interest due on indebtedness incurred in completing our initial business combination, to fund the purchase of other companies or for working capital.                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| Redemption of public shares and distribution and liquidation if no initial business combination |     | Our amended and restated memorandum and articles of association provide that we have only 18 months from the closing of this offering (which can be extended two times without shareholder approval, each by an additional three months, for a total completion window of up to 24 months), or by such earlier liquidation date as our board of directors may approve, to complete our initial business combination. If we are unable to complete our initial business combination within such period, we will: (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter (and subject to lawfully available funds therefor), redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest (less taxes payable and up to $100,000 of interest to pay dissolution expenses) divided by the number of then outstanding public shares, which redemption will completely extinguish public shareholders’ rights as shareholders (including the right to receive further liquidation distributions, if any), and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining shareholders and our board of directors, liquidate and dissolve, subject in each case to our obligations under Cayman Islands law to provide for claims of creditors and the requirements of other applicable law. There will be no redemption rights or liquidating distributions with respect to our warrants, which will expire worthless if we fail to complete our initial business combination within the completion window. 
 Our sponsor, officers and directors have entered into written agreements with us, pursuant to which they have waived their rights to liquidating distributions from the trust account with