Company: COPL-UN
Filing Date: 2025-02-18
Form Type: S-1/A
Source: 0001829126-25-001063
Chunk: 263

Company: Copley Acquisition Corp
Filing Date: 2025-02-18
Form: S-1/A
Chunk 263
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 through the sponsor, the placement units allocated to it in connection with the closing of this offering, the sponsor will issue membership interests at a nominal purchase price ($0.004) to the non-managing sponsor member reflecting its interest in an aggregate of [ ] founder shares held by the sponsor (or up to [ ] founder shares held by the sponsor if the underwriters’ over-allotment option is exercised in full). The non-managing sponsor member will have no right to vote the founder shares, placement units or securities comprising the placement units that it holds indirectly through its membership interests in the sponsor. Each placement unit contains one Class A ordinary share and one-half of one whole warrant. Each whole warrant entitles the holder to purchase one whole Class A ordinary share at $11.50 per share. There will be no redemption rights or liquidating distributions from the trust account with respect to our founder shares, placement units or warrants, which will expire worthless if we do not complete our initial business combination within the completion window. The placement units and their underlying securities are subject to the transfer restrictions described below under “— Transfers of Founder Shares and Placement Units”).

The placement warrants comprising part of the placement units are identical to the warrants sold as part of the units in this offering except that: (1) they will not be redeemable by us; (2) they (including the Class A ordinary shares issuable upon exercise of these warrants) may not, subject to certain limited exceptions, be transferred, assigned or sold until 30 days after the completion of our initial business combination, as described below; (3) they may be exercised by the holders on a cashless basis; and (4) they (including the ordinary shares issuable upon exercise of these warrants) are entitled to registration rights, as described below.

Our sponsor and our officers and directors are deemed to be our “promoters” as such term is defined under the federal securities laws. See “Certain Relationships and Related Party Transactions” for additional information regarding our relationships with our promoters.

Transfers of Founder Shares and Placement Units

The founder shares, placement units, placement shares, placement warrants and any Class A ordinary shares issued upon conversion or exercise thereof are each subject to transfer restrictions pursuant to lock-up provisions either in a letter agreement with us to be entered into by our initial holders, sponsor, officers and directors. Our initial holders, sponsor, officers and directors have agreed not to transfer, assign or sell (1) in the case of the founder shares, until the earlier of: (