Company: COPL-UN
Filing Date: 2025-04-01
Form Type: S-1/A
Source: 0001829126-25-002247
Chunk: 73

Company: Copley Acquisition Corp
Filing Date: 2025-04-01
Form: S-1/A
Chunk 73
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 issued and outstanding ordinary
shares do not approve of the business combination we consummate. Please see the section entitled “Proposed Business —
Effecting Our Initial Business Combination — Shareholders may not have the ability to approve our initial business
combination” for additional information.

If we seek shareholder approval of our initial business combination, our sponsor, officers and directors have agreed to vote in favor of such initial business combination, regardless of how our public shareholders vote. As such, we may not need any public shares to be voted in favor of our initial business combination in order to approve such initial business combination.

Unlike other blank
check companies in which the initial shareholders agree to vote their founder shares in accordance with the majority of the votes
cast by the public shareholders in connection with an initial business combination, our sponsor, officers and directors have agreed
(and their permitted transferees will agree), pursuant to the terms of a letter agreement entered into with us, to vote any founder
shares and/or placement shares held by them, as well as any public shares purchased during or after this offering, in favor of our
initial business combination. We expect that our sponsor and its permitted transferees will own approximately 26.7% of our issued
and outstanding ordinary shares at the time of any such shareholder vote. As a result, in addition to the founder shares and
placement shares held by our sponsor, we would need only 4,666,429 or approximately 31.1%, of the 15,000,000 public shares sold in
this offering to be voted in favor of a transaction (assuming all outstanding shares are voted, the representative shares are voted
in favor of the proposal, the over-allotment option is not exercised and the parties to the letter agreement do not acquire any
public shares). Assuming that only the holders of a majority of our issued and outstanding ordinary shares, representing a quorum
under our amended and restated memorandum and articles of association, vote their shares at a general meeting of the company, we
will not need any public shares in addition to the founder shares and placement shares held by our sponsor to be voted in favor of
an initial business combination in order to approve an initial business combination. Accordingly, if we seek shareholder approval of
our initial business combination, it is more likely that the necessary shareholder approval will be received than would be the case
if such persons agreed to vote their founder shares in accordance with the majority of the votes cast by our public
shareholders.

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