Company: COPL-UN
Filing Date: 2025-04-23
Form Type: S-1/A
Source: 0001829126-25-002866
Chunk: 369

Company: Copley Acquisition Corp
Filing Date: 2025-04-23
Form: S-1/A
Chunk 369
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 may force the Company to seek third party financing which may not be available on terms acceptable to the Company or at all. As a result, the Company may not be able to consummate such an initial Business Combination and the Company may not be able to locate another suitable target within the applicable time period, if at all.

If the Company is unable to complete its initial Business Combination within a 18-month period (which can be extended two times, each by an additional three months, for a total completion time of up to 24 months) from the closing of the Proposed Public Offering (the “Completion Window”), the Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter (and subject to lawfully available funds therefor), redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest (less taxes payable and up to $100,000 of interest to pay dissolution expenses) divided by the number of then outstanding public shares, which redemption will completely extinguish public shareholders’ rights as shareholders (including the right to receive further liquidation distributions, if any), and (iii) as promptly as reasonably possible following such redemption, subject to the approval of its remaining shareholders and its board of directors, liquidate and dissolve, subject in each case to its obligations under Cayman Islands law to provide for claims of creditors and the requirements of other applicable law. There will be no redemption rights or liquidating distributions with respect to its redeemable Public Warrants and Private Placement Warrants, which will expire worthless if the Company fails to complete its initial Business Combination within the Completion Window.

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NOTE 1: ORGANIZATION AND BUSINESS OPERATIONS(cont.)

Going Concern Consideration

At December 31, 2024,
the Company had a working capital deficit of $479,812. The Company has incurred and expects to continue to incur significant costs in
pursuit of its financing and acquisition plans. In connection with the Company’s assessment of going concern considerations in
accordance with Accounting Standards Update 2014-15, “Disclosures of Uncertainties about an Entity’s Ability to Continue
as a Going Concern,” management had determined that the Company lacks the financial resources it needs to sustain operations for
a reasonable period of time, which is considered to be one year from the date of the issuance of the financial