Company: COPL-UN
Filing Date: 2025-04-01
Form Type: S-1/A
Source: 0001829126-25-002247
Chunk: 182

Company: Copley Acquisition Corp
Filing Date: 2025-04-01
Form: S-1/A
Chunk 182
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operations nor generated any revenues to date. Our only activities since inception have been organizational activities and those necessary
to prepare for this offering. Following this offering, we will not generate any operating revenues until after completion of our initial
business combination. We expect to generate non-operating income in the form of interest income on cash and cash equivalents after this
offering. There has been no significant change in our financial or trading position and no material adverse change has occurred since
the date of our audited financial statements. After this offering, we expect to incur increased expenses as a result of being a public
company (for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses. We expect our expenses
to increase substantially after the closing of this offering.

Liquidity and Capital Resources

Our liquidity needs have been
satisfied prior to completion of this offering through receipt of $25,000 through a capital contribution from our sponsor and up to $700,000
in loans from our sponsor under an unsecured promissory note. As of December 31, 2024, we had not borrowed any amount under the
promissory note with our sponsor. We estimate that the net proceeds from: (i) the sale of the units in this offering, after deducting
offering expenses of approximately $600,000 and the non-deferred underwriter’s discount of $2,250,000, and (ii) the sale of 517,143
placement units to our sponsor for an aggregate purchase price of $3,875,000, will be $151,400,000 (or $174,012,500 if the underwriter’s
over-allotment option is exercised in full), of which $150,750,000 (or $173,362,500 if the underwriter’s over-allotment option
is exercised in full) will be held in the trust account. If our offering expenses exceed our estimate of $600,000, we may fund such excess
with the net proceeds from this offering and the private placement held out of trust. If our offering expenses are less than our estimate
of $600,000, the balance will be used for post-closing working capital.

We intend to use substantially
all of the funds held in the trust account, including any amounts representing interest earned on the trust account (which interest shall
be net of taxes payable and excluding deferred underwriting commissions) to complete our initial business combination. We may withdraw
interest