Company: COPL-UN
Filing Date: 2025-06-13
Form Type: 10-Q
Source: 0001829126-25-004483
Chunk: 22

Company: Copley Acquisition Corp
Filing Date: 2025-06-13
Form: 10-Q
Item: Part I, Item 1
Chunk 22
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 right to participate in any tender offer) with respect to such shares in connection with the completion of the initial Business Combination, and (iii) to waive their rights to liquidating distributions from the Trust Account with respect to such shares if the Company does not complete the initial Business Combination within the Completion Window.

NOTE 7. SHAREHOLDERS’ DEFICIT

Preference Shares — The Company is authorized to issue 1,500,000 preference shares, $0.0001 par value per share, with such designations, voting and other rights and preferences as may be determined from time to time by the Company’s board of directors. As of March 31, 2025 and December 31, 2024, there were no preference shares issued or outstanding.

Class A Ordinary Shares — The Company is authorized to issue 150,000,000 Class A ordinary shares, $0.0001 par value per share. As of March 31, 2025 and December 31, 2024, there were no Class A ordinary shares issued or outstanding. As a result of Initial Public Offering on May 2, 2025, the Company issued 17,250,000 Class A ordinary shares subject to possible redemption. Simultaneously, the Company consummated the sale of 555,893 Private Placement Units, each of which entitles the holder thereof to one Class A ordinary share, and issued 172,500 Class A ordinary shares to the underwriters.

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Class B Ordinary Shares — The Company is authorized to issue 15,000,000 Class B ordinary shares, $0.0001 par value per share. As of March 31, 2025 and December 31, 2024, there were 5,750,000 Class B ordinary shares issued and outstanding.

Prior to the initial Business Combination, only holders of the Class B ordinary shares will have the right to vote on the election of directors. Holders of the Class A ordinary shares will not be entitled to vote on the election of directors during such time. These provisions of the Company’s amended and restated memorandum and articles of association with class rights may not be amended without a special resolution under Cayman Islands law and the amended and restated articles of association, being a resolution passed by a majority of at least two-thirds (2/3) (or such higher approval threshold as specified in the Company’s amended and restated memorandum and articles of association) of the votes cast by such shareholders as, being entitled to