Company: COPL-UN
Filing Date: 2025-06-13
Form Type: 10-Q
Source: 0001829126-25-004483
Chunk: 26

Company: Copley Acquisition Corp
Filing Date: 2025-06-13
Form: 10-Q
Item: Part I, Item 1
Chunk 26
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 in shareholder’s deficit.

    17

NOTE 8. SEGMENT INFORMATION

ASC Topic 280, “Segment Reporting,”
establishes standards for companies to report in their financial statement information about operating segments, products, services, geographic
areas, and major customers. Operating segments are defined as components of an enterprise for which separate financial information is
available that is regularly evaluated by the Company’s chief operating decision maker (“CODM”), or group, in deciding
how to allocate resources and assess performance.

The Company’s CODM has been identified as
the Chief Financial Officer, who reviews the operating results for the Company as a whole to make decisions about allocating resources
and assessing financial performance. Accordingly, Management has determined that the Company only has one operating segment.

The CODM assesses performance for the single segment
and decides how to allocate resources based on net income or loss that also is reported on the condensed statement of operations as net
income or loss. When evaluating the Company’s performance and making key decisions regarding resource allocation the CODM reviews
several key metrics, which include the following:

    Schedule of segment information 

    For the
Three Months ended
March 31,
2025 
  
    General and administrative expenses 
    $74,699 

General and administrative expenses are reviewed
and monitored by the CODM to manage and forecast cash to ensure enough capital is available to complete its Initial Public Offering and
eventually a Business Combination within the Combination Period. The CODM also reviews general and administrative expenses to manage,
maintain and enforce all contractual agreements to ensure costs are aligned with all agreements and budget.

NOTE 9. SUBSEQUENT EVENTS

The Company evaluated subsequent events and transactions
that occurred after the balance sheet date up to the date that the condensed financial statements were issued. Based upon this review,
the Company did not identify any subsequent events that would have required adjustment or disclosure in the condensed financial statements,
other than those described below.

Initial Public Offering

The registration statement for the
Company’s Initial Public Offering was declared effective on April 30, 2025. On May 2, 2025, the Company consummated
the Initial Public Offering of 17,250,000
Units including 2,250,000
additional public units as the underwriters’ over-allotment option was exercised in full. The Units were sold at an offering
price of $10.00
per Unit, generating gross proceeds of $172,500,000. Each Unit consists of