Copley Acquisition Corp announces the separation of Class A shares and warrants from its initial public offering units starting June 2, 2025.
Quiver AI Summary
Copley Acquisition Corp announced that the holders of units from its recent initial public offering of 17,250,000 units will be able to separately trade their Class A ordinary shares and warrants starting June 2, 2025. Units that are not separated will continue to trade on the New York Stock Exchange under the symbol "COPLU", while the Class A ordinary shares and warrants will trade under the symbols "COPL" and "COPLW", respectively. The company, which is a blank check entity seeking business combinations, reiterates that no fractional warrants will be issued upon separation, and holders must have their brokers coordinate with the transfer agent for the separation process. This announcement is part of a broader filing process with the SEC, and it includes caution regarding forward-looking statements related to the company's future business plans.
Potential Positives
- Holders of the units from the initial public offering will soon have the flexibility to separately trade Class A ordinary shares and warrants, increasing liquidity for investors.
- The effective registration statement indicates that the company is compliant with regulatory requirements, which could enhance investor confidence.
- Continuing to trade the units on the NYSE under the symbol “COPLU” ensures ongoing visibility and accessibility for the company in the public market.
Potential Negatives
- The announcement highlights that the company is a blank check company, which inherently implies uncertainty regarding its future and potential business combinations.
- There is mention of numerous conditions that could affect the forward-looking statements, highlighting the risks that the company and its investors face.
- The press release does not provide any specific details about potential business combinations, which may raise concerns about the company’s direction and strategies.
FAQ
When can I start trading Class A shares and warrants separately?
Holders can trade Class A ordinary shares and warrants separately starting on or about June 2, 2025.
What is the ticker symbol for Copley Acquisition Corp?
The Company trades under the symbol "COPLU" for units, "COPL" for Class A shares, and "COPLW" for warrants.
How can I separate my units into shares and warrants?
Holders need to have their brokers contact Continental Stock Transfer & Trust Company to separate the units.
What is the nature of Copley Acquisition Corp?
Copley Acquisition Corp is a blank check company seeking to complete a business combination with other entities.
Where can I find the registration statement for the offering?
The registration statement is available on the SEC's website at www.sec.gov.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
Full Release
HONG KONG, May 22, 2025 (GLOBE NEWSWIRE) -- Copley Acquisition Corp (NYSE: COPLU) (the “ Company ”) announced that holders of the units sold in the Company’s initial public offering of 17,250,000 units, which includes 2,250,000 units issued pursuant to the exercise by the underwriters of their overallotment option, completed on May 2, 2025 (the “ Offering ”) may elect to separately trade the Class A ordinary shares and warrants included in the units commencing on or about June 2, 2025. Any units not separated will continue to trade on The New York Stock Exchange under the symbol “COPLU”, and each of the Class A ordinary shares and warrants will separately trade on The New York Stock Exchange under the symbols “COPL” and “COPLW,” respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Holders of units will need to have their brokers contact Continental Stock Transfer & Trust Company, the Company’s transfer agent, in order to separate the units into Class A ordinary shares and warrants.
The Company is a blank check company incorporated as an exempted company under the laws of the Cayman Islands, which will seek to effect a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities.
A registration statement relating to the securities was declared effective on April 30, 2025, in accordance with Section 8(a) of the Securities Act of 1933, as amended. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Cautionary Note Concerning Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements,” including with respect to the Company’s search for an initial business combination. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement for the initial public offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Contact
Copley Acquisition Corp
Suite 4005-4006, 40/F, One Exchange Square
8 Connaught Place, Central, Hong Kong
Francis Ng
Co-Chief Executive Officer
Email: [email protected]
Phone: +852 2861 3335