Company: COPL-UN
Filing Date: 2025-06-13
Form Type: 10-Q
Source: 0001829126-25-004483
Chunk: 6

Company: Copley Acquisition Corp
Filing Date: 2025-06-13
Form: 10-Q
Item: Part I, Item 1
Chunk 6
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 The funds in our operating account and our Trust Account will be held in banks and other financial
institutions and will be invested or held only in either (i) U.S. government treasury obligations with a maturity of 185 days or less,
or in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act which invest only in direct U.S.
government treasury obligations, (ii) uninvested cash or (iii) an interest-bearing bank demand deposit account or other accounts at a
bank until the earliest of (i) the completion of an initial Business Combination, (ii) the redemption of Public Shares if the Company
is unable to complete an initial Business Combination within the completion window, subject to applicable law, and (iii) the redemption
of Public Shares properly submitted in connection with a shareholder vote to amend the Company’s amended and restated memorandum
and articles of association to modify the substance or timing of obligation to redeem 100% of Public Shares if the Company has not consummated
an initial Business Combination within the completion window or with respect to any other material provisions relating to shareholders’
rights or pre-initial Business Combination activity. The proceeds deposited in the Trust Account could become subject to the claims of
creditors, if any, which could have priority over the claims of public shareholders.

NYSE rules require that we must complete one or
more Business Combinations having an aggregate fair market value of at least 80% of the value of the assets held in the Trust Account
(excluding the deferred underwriting commissions and taxes payable on the income earned on the Trust Account) at the time of our signing
a definitive agreement in connection with our initial business combination. Our board of directors will make the determination as to the
fair market value of our initial business combination. If our board of directors is not able to independently determine the fair market
value of our initial business combination, we will obtain an opinion from an independent entity that commonly renders valuation opinions.
While we consider it unlikely that our board of directors will not be able to make an independent determination of the fair market value
of our initial business combination, it may be unable to do so if it is less familiar or experienced with the business of a particular
target or if there is a significant amount of uncertainty as to the value of a target’s assets or prospects.

The Company will provide holders of its Public
Shares with the opportunity to redeem all or a portion of their Public Shares upon the completion of the Business Combination either (i)
in