Company: COPL-UN
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001829126-25-009051
Chunk: 8

Company: Copley Acquisition Corp
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 8
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 Combination within the completion window, subject to applicable law, and (iii) the redemption
of Public Shares properly submitted in connection with a shareholder vote to amend the Company’s amended and restated memorandum
and articles of association to modify the substance or timing of obligation to redeem 100% of Public Shares if the Company has not consummated
an initial Business Combination within the completion window or with respect to any other material provisions relating to shareholders’
rights or pre-initial Business Combination activity. The proceeds deposited in the Trust Account could become subject to the claims of
creditors, if any, which could have priority over the claims of public shareholders.

NYSE rules require that we must complete one or
more Business Combinations having an aggregate fair market value of at least 80% of the value of the assets held in the Trust Account
(excluding the deferred underwriting commissions and taxes payable on the income earned on the Trust Account) at the time of our signing
a definitive agreement in connection with our initial business combination. Our board of directors will make the determination as to the
fair market value of our initial business combination. If our board of directors is not able to independently determine the fair market
value of our initial business combination, we will obtain an opinion from an independent entity that commonly renders valuation opinions.
While we consider it unlikely that our board of directors will not be able to make an independent determination of the fair market value
of our initial business combination, it may be unable to do so if it is less familiar or experienced with the business of a particular
target or if there is a significant amount of uncertainty as to the value of a target’s assets or prospects.

The Company will provide holders of its Public
Shares with the opportunity to redeem all or a portion of their Public Shares upon the completion of the Business Combination either (i)
in connection with a shareholder meeting called to approve the Business Combination (regardless of whether they vote for or against the
proposed business combination or do not vote at all) or (ii) by means of a tender offer.

All of the Class A ordinary shares sold as part
of the units in the Company’s initial public offering contain a redemption feature which allows for the redemption of such Public
Shares in connection with liquidation, if there is a shareholder vote or tender offer in connection with initial business combination,
and in connection with certain amendments to the Company’s amended and restated memorandum and articles of association (as may be
amended and restated from time to time). In accordance with SEC