Company: COPL-UN
Filing Date: 2025-06-13
Form Type: 10-Q
Source: 0001829126-25-004483
Chunk: 15

Company: Copley Acquisition Corp
Filing Date: 2025-06-13
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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 December 15,
2024, with early adoption permitted. The Company adopted ASU 2023-07 on November 26, 2024, the date of its incorporation. See Note
8 for disclosures.

Management does not believe that any recently
issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the Company’s unaudited
condensed financial statements.

    11

NOTE 3. INITIAL PUBLIC OFFERING

Pursuant to the Initial Public Offering, which
was consummated on May 2, 2025, the Company sold 17,250,000
Units (including underwriters’ over-allotment exercise of 2,250,000
Units) at a purchase price of $10.00
per Unit, generating gross proceeds of $172,500,000
to the Company which was placed in a trust account (the “Trust Account”). Each Unit consists of one Class A ordinary
share and one-half of one redeemable warrant (“Public Warrant”). Each whole warrant entitles the holder thereof to
purchase one Class A ordinary share at a price of $11.50
per share. No fractional warrants will be issued upon separation of the Units and only whole warrants will trade. The underwriters
have exercised their over-allotment option on consummation of the Initial Public offering to purchase 2,250,000
additional Units to cover over-allotments.

NOTE 4. PRIVATE PLACEMENT

Simultaneously with the consummation of the Initial Public Offering and the sale of the Units, the Company consummated the private placement (“Private Placement”) of 555,893 units including 56,250 additional private placement units as the underwriters’ over-allotment option was exercised in full (the “Private Placement Units”) 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 entitles the holder thereof to one Class A ordinary share and one-half of one redeemable warrant (“Private Placement Warrant”) to purchase one Class A ordinary share at $11.50 per share.

Each Private Placement Unit is identical to the Units sold in the Initial Public Offering, except that it is not redeemable, transferable, assignable or salable by the