Company: COPL-UN
Filing Date: 2025-02-03
Form Type: S-1/A
Source: 0001829126-25-000620
Chunk: 323

Company: Copley Acquisition Corp
Filing Date: 2025-02-03
Form: S-1/A
Chunk 323
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 fail to complete our initial business combination within 24 months (or up to 30 months if we extend the period of time to consummate
a business combination, as described in more detail in this prospectus, provided that our sponsor and/or its designees must deposit into
the Trust Account for each three months extension, funds equal to the product of (x) $0.10 and (y) the number of public shares then issued
and outstanding.

The representative shares have been deemed compensation by FINRA and are therefore subject to a lock-up for a period of 180 days immediately following the commencement of sales of this offering. Pursuant to FINRA Rule 5110(e)(1), these securities may not be sold, transferred, assigned, pledged or hypothecated nor may they be the subject of any hedging, short sale, derivative, put or call transaction that would result in the economic disposition of the securities by any person for a period of 180 days immediately following the commencement of sales of this offering except to any underwriter and selected dealer participating in the offering and their officers or partners, registered persons or affiliates or as otherwise permitted under FINRA Rule 5110(e)(2).

Lock-up

We, the sponsor and our directors and officers have agreed that, for a period of 180 days after the date of this prospectus, we and they will not, without the prior written consent of Clear Street, offer, sell, contract to sell, pledge or otherwise transfer or dispose of, directly or indirectly, any units, warrants, ordinary shares or any other securities convertible into, or exercisable, or exchangeable for, ordinary shares; provided, however, that we may (1) issue and sell the placement units; (2) issue and sell the additional units to cover our underwriter’s over-allotment option (if any); (3) register with the SEC pursuant to an agreement to be entered into concurrently with the issuance and sale of the securities in this offering, the resale of the placement shares and the placement warrants and the Class A ordinary shares issuable upon exercise of the placement warrants and the founder shares; and (4) issue securities in connection with our initial business combination. However, the foregoing shall not apply to the forfeiture of any founder shares pursuant to their terms or any transfer of founder shares to any current or future independent director of the company (as long as such current or future independent director transferee is subject to the letter agreement, filed herewith, or executes an agreement substantially identical to the