Company: COPL-UN
Filing Date: 2025-06-13
Form Type: 10-Q
Source: 0001829126-25-004483
Chunk: 18

Company: Copley Acquisition Corp
Filing Date: 2025-06-13
Form: 10-Q
Item: Part I, Item 1
Chunk 18
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 will equal, in the aggregate, 25% of the sum of (i) the Founder Shares and public shares issued and outstanding
upon the completion of the Company’s initial public offering (including any public shares issued pursuant to the exercise of the
underwriters’ over-allotment option), plus (ii) the total number of Class A ordinary shares issued or deemed issued or issuable
upon the conversion or exercise of any equity-linked securities issued or deemed issued, in connection with the closing of the Initial
Business Combination (excluding any shares or equity-linked securities issued, or to be issued, to any seller in the initial Business
Combination and any private placement-equivalent units issued to the Sponsor or any of its affiliates or to officers or directors upon
conversion of working capital loans and extension loans made) minus (iii) any Class A ordinary shares redeemed by public shareholders
in connection with an initial Business Combination 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 the initial Business
Combination) for share subdivisions, share dividends, reorganizations, recapitalizations and the like, and subject to further adjustment
as provided in the prospectus.

    13

With certain limited exceptions, the Founder Shares are not transferable, assignable or saleable (except to officers and directors and other persons or entities affiliated with the Sponsor, each of whom will be subject to the same transfer restrictions) until the earlier of (i) 180 days after the completion of the initial Business Combination; or (ii) subsequent to the initial Business Combination (x) if the last reported sale price of the Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for share subdivisions, share dividends, rights issuances, reorganizations, recapitalizations and the like) for any 20 trading days