Company: COPL-UN
Filing Date: 2025-02-18
Form Type: S-1/A
Source: 0001829126-25-001063
Chunk: 366

Company: Copley Acquisition Corp
Filing Date: 2025-02-18
Form: S-1/A
Chunk 366
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 and any Class A ordinary shares redeemed by public shareholders in connection with any amendment to the Company’s amended and restated memorandum and articles of association made prior to the consummation of an initial Business Combination (A) to modify the substance or timing of the Company’s obligation to allow redemption in connection with an initial Business Combination or to redeem 100% of the Company’s public shares if it does not complete an initial Business Combination within the completion window or (B) with respect to any other material provisions relating to the rights of holders of Class A ordinary shares or pre-Business Combination activity; provided that such conversion of Founder Shares will never occur on a less than one-for-one basis. The foregoing is subject to adjustment (unless otherwise provided in the definitive agreement for our initial Business Combination) for share sub-divisions, share dividends, reorganizations, recapitalizations and the like, and subject to further adjustment as provided in the prospectus.

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NOTE 5: RELATED PARTY TRANSACTIONS (cont.)

With certain limited exceptions, the Founder Shares are not transferable, assignable or saleable (except to our officers and directors and other persons or entities affiliated with our Sponsor, each of whom will be subject to the same transfer restrictions) until the earlier of: (i) one year after the completion of our initial Business Combination; or (ii) subsequent to our initial Business Combination (x) if the last reported sale price of our Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for share sub-divisions, share dividends, rights issuances, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after our initial Business Combination or (y) the date on which we complete a liquidation, merger, share exchange, reorganization or other similar transaction that results in all of our public shareholders having the right to exchange their ordinary shares for cash, securities or other property. Up to 750,000 Founder Shares will be forfeited by our initial shareholders depending on the exercise of the over-allotment option.

Related Party Loans

The Sponsor issued an unsecured promissory note to the Company (the “Promissory Note”), pursuant to which the Company may borrow up to an aggregate principal amount of $700,000. The Promissory Note is non-interest bearing and payable on the earlier of (i) December 31, 2025, or (ii