Company: COPL-UN
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001829126-25-006317
Chunk: 34

Company: Copley Acquisition Corp
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 34
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 related to regulatory reporting requirements; $85,000 for NYSE continued listing fees; $100,000 for directors’ and officers’ insurance and $15,001 for general working capital that will be used for miscellaneous expenses and reserves, net of estimated interest income.

These amounts are estimates and may differ materially from our actual expenses. If our available funds are not sufficient, we may be unable to continue searching for, or conducting due diligence with respect to, prospective target businesses.

Moreover, if our estimates of the costs of identifying
a target business, undertaking in-depth due diligence and negotiating an initial business combination are less than the actual amount
necessary to do so, we may have insufficient funds available to operate our business prior to our initial business combination. Moreover,
we may need to obtain additional financing either to complete our initial business combination or because we become obligated to redeem
a significant number of our public shares upon completion of our initial business combination, in which case we may issue additional securities
or incur debt in connection with such business combination.

Going Concern Consideration

As of June 30, 2025, the Company had cash of $160,520
and a working capital surplus of $75,007. The Company has incurred and expects to continue to incur significant costs as a publicly traded
company, to evaluate business opportunities, and to close on a Business Combination. Such costs will be incurred prior to generating any
operating revenues. In connection with the Company’s assessment of going concern considerations in accordance with Financial Accounting
Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 205-40, “Presentation of Financial
Statements – Going Concern,” management had determined that the Company lacks the financial resources it needs to sustain
operations for a reasonable period of time, which is considered to be one year from the date of the issuance of the condensed financial
statements. This liquidity condition raises substantial doubt about the Company’s ability to continue as a going concern.

To address this uncertainty, the Company is currently
evaluating several options to improve its liquidity position. These include raising additional capital through loans or additional investments
from its Sponsor, shareholders, officers, directors, or third parties. The Company’s officers, directors, and Sponsor may, but are
not obligated to, provide working capital loans to the Company in such amounts and on such terms as they may determine in their sole discretion.
However, there is no assurance that the Company will be able to obtain such additional financing on commercially acceptable terms, if
at all.