Company: COPL-UN
Filing Date: 2025-04-01
Form Type: S-1/A
Source: 0001829126-25-002247
Chunk: 385

Company: Copley Acquisition Corp
Filing Date: 2025-04-01
Form: S-1/A
Chunk 385
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 at least 90 days after the initial Business Combination or (y) the date on which the Company completes a liquidation, merger,
share exchange, reorganization or other similar transaction that results in all of the public shareholders having the right to exchange
their ordinary shares for cash, securities or other property. Up to 750,000 Founder Shares will be forfeited by the initial shareholders
depending on the exercise of the over-allotment option.

Related Party Loans

The Sponsor issued an unsecured
promissory note to the Company (the “Promissory Note”), pursuant to which the Company may borrow up to an aggregate principal
amount of $700,000. The Promissory Note is non-interest bearing and payable on the earlier of (i) December 31, 2025, or (ii) the
consummation of the Proposed Public Offering. As of December 31, 2024, there were no amounts outstanding under the Promissory Note.
After borrowing under the Promissory Note, the loans will be repaid upon completion of the Proposed Public Offering out of the offering
proceeds not held in the Trust Account. The value of the Sponsor’s interest in the loans corresponds to the principal amount outstanding
under any such loans.

The Sponsor paid certain deferred
offering costs on behalf of the Company. These amounts are due on demand and non-interest bearing. During the period from November 26,
2024 (inception) through December 31, 2024, the Sponsor paid $97,773 on behalf of the Company, of which $25,000 was paid in exchange
for the issuance of Founder Shares. As of December 31, 2024, the amount due to the related party was $72,773.

In order to fund working capital deficiencies or finance transaction costs in connection with initial Business Combination, the Sponsor
or an affiliate of the Sponsor or certain officers and directors may, but are not obligated to, loan the Company funds as may be required,
from time to time or at any time, in whatever amount they deem reasonable in their sole discretion (“Working Capital Loans”).
In addition, the Sponsor or an affiliate of the Sponsor or certain officers and directors may loan the Company funds of up to $3,450,000
(assuming the underwriters exercise their over-allotment option and no public shares have been redeemed at the time of each extension)
to cover the cost of extension options to allow additional time to complete an initial Business Combination (“Extension Loans