Company: COPL-UN
Filing Date: 2025-02-03
Form Type: S-1/A
Source: 0001829126-25-000620
Chunk: 172

Company: Copley Acquisition Corp
Filing Date: 2025-02-03
Form: S-1/A
Chunk 172
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 the number of founder shares issued. The number of founder shares was determined based on the expectation that the founder shares would represent 25% of the aggregate of our issued and outstanding founder shares and public shares after this offering. Our public shareholders may incur material dilution due to such anti-dilution adjustments that result in the issuance of Class A ordinary shares on a greater than one-to-one basis upon conversion.

If we increase or decrease
the size of this offering, we will effect a share capitalization or share surrender or repurchase or other appropriate mechanism, as
applicable with respect to our Class B ordinary shares immediately prior to the consummation of this offering in such amount as to maintain
the ownership of founder shares by our sponsor at 25% of our issued and outstanding founder shares and public shares upon the consummation
of this offering. Any additional Class B ordinary shares issued to our sponsor through such a share capitalization would be issued at
their nominal par value. Our sponsor does not intend to purchase any units in this offering.

Prior to or in connection with the completion of our initial business combination, there may be payment by the company to any of our sponsor, officers or directors, or any of their respective affiliates, of consulting fees, finder’s fees, advisory fees or success fees for any services they render in order to effectuate the completion of our initial business combination, which, if made prior to the completion of our initial business combination, will be paid from funds held outside the trust account.

Our sponsor, officers and directors, or any entities with which they are affiliated, will be reimbursed for any out-of-pocket expenses incurred in connection with activities on our behalf such as identifying potential target businesses and performing due diligence on suitable business combinations. Our audit committee will review on a quarterly basis all payments that were made to our sponsor, officers, directors or any of their controlled affiliates and will determine which expenses and the amount of expenses that will be reimbursed. There is no cap or ceiling on the reimbursement of out-of-pocket expenses incurred by such persons in connection with activities on our behalf.

Our sponsor has agreed to loan us up to $700,000 under an unsecured promissory note to be used for a portion of the expenses of this offering. As of December 3, 2024 we had not borrowed any amount under the promissory note with our sponsor. This loan is non-interest bearing, unsecured and is due at the earlier of December 31, 2025 or the closing of this offering.