Company: COPL-UN
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001829126-25-009051
Chunk: 37

Company: Copley Acquisition Corp
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 37
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, in whatever
amount they deem reasonable in their sole discretion (“Working Capital Loans”). In addition, the Sponsor or an affiliate of
the Sponsor or certain officers and directors may loan the Company funds of up to $3,450,000 (assuming the underwriters exercise their
over-allotment option, and no public shares have been redeemed at the time of each extension) to cover the cost of extension options to
allow additional time to complete an initial business combination (“Extension Loans”). Such Working Capital Loans and Extension
Loans may be convertible into units at a price of $7.00 per unit at the option of the lender at the time of the business combination.
The units would be identical to the Private Placement Units and include one-half of one private warrant (each a “Working Capital
Warrant” or “Extension Warrant”, respectively). If the Company does not complete an initial business combination, the
Working Capital Loans and Extension Loans would be repaid out of funds not held in the Trust Account, and only to the extent available.
Except for the foregoing, the terms of such Working Capital Loans and Extension Loans by the Sponsor or its affiliates, or officers and
directors, if any, have not been determined and no written agreements exist with respect to such loans (except as disclosed below).

As of December 31, 2024, no Working Capital Loans were outstanding.
On June 12, 2025, the Company entered into a Working Capital Loan with the Sponsor, pursuant to which the Company may borrow up to $450,000.
The Working Capital Loan is non-interest bearing and matures on the earlier of (i) the date on which the business combination is consummated
and (ii) the Company’s liquidation and is subject to conversion into units (as disclosed above). On June 12, 2025, the $146,609 balance
on the Promissory Note was transferred into the Working Capital Loan, resulting in a $146,609 balance outstanding as of September 30,
2025. As of September 30, 2025 and December 31, 2024, no Extension Loans were outstanding.

24

Other Contractual Obligations

Registration Rights

Pursuant to a registration rights agreement dated on the effectiveness of the Registration Statement on April 30, 2025, the holders of the Founder Shares, Private Placement Units (including securities contained therein), and units (including securities contained therein) that may be issued on conversion of working capital loans or extension loans