Company: COPL-UN
Filing Date: 2025-02-18
Form Type: S-1/A
Source: 0001829126-25-001063
Chunk: 247

Company: Copley Acquisition Corp
Filing Date: 2025-02-18
Form: S-1/A
Chunk 247
---
 initial public offering. Under these phase-in rules, companies are permitted to phase in compliance with these rules and regulations as follows: (A) with respect to compensation committee and the nominating and corporate governance committee, (1) one member must satisfy the requirement by the earlier of the date of the closing of this offering or five business days from the date of listing; (2) a majority of members must satisfy the requirement within 90 days of the date of listing; and (3) all members must satisfy the requirement within one year of listing, and (B) with respect to the audit committee, (1) one member must satisfy the requirement by the date of listing; (2) a majority of members must satisfy the requirement within 90 days of the effective date of our registration statement; and (3) all members must satisfy the requirement within one year of the effective date of our registration statement. Furthermore, companies listing in connection with their initial public offering have twelve months from the date of listing to comply with the majority independent board requirement. We do not intend to utilize these exemptions and intend to comply with the corporate governance requirements of the NYSE, subject to applicable phase-in rules. However, if we determine in the future to utilize some or all of these exemptions, you will not have the same protections afforded to shareholders of companies that are subject to all of the NYSE corporate governance requirements.

Officer and Director Compensation

None of our executive officers or directors have received any cash compensation for services rendered. We are not prohibited from paying any fees (including advisory fees), reimbursements or cash payments to any of our sponsor, officers or directors, or any of their respective affiliates, for services rendered to us prior to or in connection with the completion of our initial business combination, including the following payments, all of which, if made prior to the completion of our initial business combination, will be paid from funds held outside the trust account: (i) repayment of loans made to us prior to the date of this prospectus by our sponsor to cover offering-related and organization expenses, (ii) repayment of loans that our sponsor, members of our management team or any of their respective affiliates may make to finance transaction costs in connection with an intended initial business combination (provided that if we do not consummate an initial business combination, we may use working capital held outside the trust account to repay such loaned amounts, but no proceeds from our trust account would be used for such repayment), (iii) at the closing of our initial business combination, at the option