Company: COPL-UN
Filing Date: 2025-04-01
Form Type: S-1/A
Source: 0001829126-25-002247
Chunk: 180

Company: Copley Acquisition Corp
Filing Date: 2025-04-01
Form: S-1/A
Chunk 180
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 then outstanding public shares, 
 subject to the limitations described herein. The “as adjusted” amount of ordinary shares subject to redemption equals                   
 the “as adjusted” total liabilities of $151,356,213 less the “as adjusted” total assets of $606,213. The                                
 value of ordinary shares that may be redeemed is equal to $10.05 per share (which is the assumed redemption price) multiplied by        
 15,000,000 ordinary shares, which is the maximum number of ordinary shares that may be redeemed.                                        |
| (3) | Actual share amount is prior to any forfeiture of founder                                                                               
 shares by our sponsor and “as adjusted” share amount assumes no exercise of the underwriter’s over-allotment option.                    |

<div align='center'>112

MANAGEMENT’S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS</div>

Overview

We are a blank check company
incorporated as a Cayman Islands exempted company with limited liability and incorporated for the purpose of effecting a merger, share
exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. We have not
selected any specific business combination target and we have not, nor has anyone on our behalf, initiated any substantive discussions,
directly or indirectly, with any business combination target. We intend to effectuate our initial business combination using cash from
the proceeds of this offering and the private placement of the placement units, our shares, debt or a combination of cash, shares and
debt.

The issuance of additional ordinary
shares in a business combination:

| ● | may significantly dilute the equity interest of investors                                                                               
 in this offering, which dilution would increase if the anti-dilution provisions in the Class B ordinary shares resulted in the issuance 
 of Class A ordinary shares on a greater than one-to-one basis upon conversion of the Class B ordinary shares;                           |

| ● | may subordinate the rights of holders of ordinary shares if                               
 preference shares are issued with rights senior to those afforded to our ordinary shares; |

| ● | could cause a change of control if a substantial number of                                                                         
 our ordinary shares are issued, which may affect, among other things, our ability to use our net operating loss carry forwards, if 
 any, and could result in the resignation or removal of our present officers and directors;                                         |

| ● | may have the effect of delaying or preventing a change of                                                   
 control of us by diluting the