Company: COPL-UN
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001829126-25-009051
Chunk: 5

Company: Copley Acquisition Corp
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 5
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,347)
  
    Changes in operating assets and liabilities: 

    Prepaid expenses 
     (164,280)
  
    Accrued expenses 
     66,834 
  
    Net cash used in operating activities 
    $(444,344)

    Cash Flows from Investing Activities 

    Cash deposited in trust account 
     (173,362,500)
  
    Net cash used in investing activities 
     (173,362,500)

    Cash Flows from Financing Activities 

    Proceeds received from initial public offering, gross 
     172,500,000 
  
    Proceeds received from issuance of private placement units 
     4,093,750 
  
    Offering costs paid 
     (2,589,491)
  
    Repayment of promissory note - related party 
     (105,194)
  
    Net cash provided by financing activities 
     173,899,065 

    Net increase in cash 
     92,221 
  
    Cash - beginning of the period 
     - 
  
    Cash
    - end of the period 
    $92,221 

    Supplemental disclosure of noncash investing and financing activities: 

    Deferred offering costs paid by related party 
    $47,578 
  
    Accrued expenses paid by related party 
    $131,452 
  
    Reclassification of due to related party into promissory note - related party 
    $251,803 
  
    Reclassification of promissory note - related party into working capital loan - related party 
    $146,609 

The accompanying notes are an integral part of
these unaudited condensed financial statements.

5

COPLEY ACQUISITION
CORPNOTES TO CONDENSED FINANCIAL STATEMENTS

SEPTEMBER 30, 2025

(Unaudited)

NOTE 1. ORGANIZATION AND BUSINESS OPERATIONS

Copley Acquisition Corp (the “Company”) is an exempted company with limited liability incorporated under the laws of the Cayman Islands on November 26, 2024. The Company was formed for the purpose of effectuating a merger, shares exchange, asset acquisition, shares purchase, reorganization, or other similar business combination with one or more target businesses, which we refer to individually as a “target business” (the “Business Combination”).

The Company has commenced its search, but does
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