Copley Acquisition Corp Announces Pricing of $150,000,000 Initial Public Offering

Rhea-AI Summary

Copley Acquisition Corp has announced the pricing of its $150 million initial public offering, consisting of 15,000,000 units priced at $10.00 per unit. The units will trade on the New York Stock Exchange under the symbol "COPLU" starting May 1, 2025.

Each unit includes one Class A ordinary share and one-half of one redeemable warrant. Each whole warrant allows holders to purchase one Class A ordinary share at $11.50 per share. Once separate trading begins, the shares and warrants will trade under "COPL" and "COPLW" respectively.

Clear Street serves as the sole book-running manager and has a 45-day option to purchase up to 2,250,000 additional units for over-allotments. The offering is expected to close on May 2, 2025. Legal counsel is provided by Winston & Strawn LLP and Appleby (Cayman) Ltd.

Positive

• Successfully priced IPO at $150M with units at $10.00 each
• Over-allotment option for additional $22.5M (2.25M units)
• Secured listing on major exchange (NYSE)
• Backed by reputable underwriter Clear Street

Negative

• Blank check company with no operating business yet
• Warrants cause potential future dilution at $11.50 exercise price

Insights

IPO and Financial Markets Specialist

Copley Acquisition Corp has priced its $150M IPO at $10 per unit, structured with shares and warrants, following standard market practices.

Copley Acquisition Corp has successfully priced its $150 million initial public offering, consisting of 15 million units at $10.00 per unit. Each unit's structure includes one Class A ordinary share bundled with one-half of a redeemable warrant, with whole warrants allowing purchase of additional shares at $11.50.

This unit structure is significant as it provides initial investors with both immediate equity ownership and potential future leverage through warrants. The $10.00 unit pricing represents standard market practice for this type of offering, while the $11.50 warrant exercise price establishes a 15% premium threshold that must be crossed before warrants become profitable to exercise.

The offering includes the customary over-allotment option (commonly known as the "green shoe") allowing underwriters to purchase up to an additional 2.25 million units, potentially increasing the total offering size to $172.5 million if fully exercised. This mechanism helps stabilize post-IPO trading by allowing underwriters to satisfy excess demand.

The planned separate trading of shares and warrants after the initial period will provide investors flexibility in managing their positions. With Clear Street serving as sole book-runner rather than a consortium of larger banks, this suggests a more modestly sized offering positioned to attract targeted investor interest rather than broader market participation.

HONG KONG, April 30, 2025 (GLOBE NEWSWIRE) -- Copley Acquisition Corp (NYSE: COPLU) (the “Company”) announced today the pricing of its initial public offering of 15,000,000 units at $10.00 per unit. The units are expected to be listed on the New York Stock Exchange (“NYSE”) and trade under the ticker symbol “COPLU” beginning May 1, 2025. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant, each whole warrant entitling the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share, subject to certain adjustments. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on NYSE under the symbols “COPL” and “COPLW”, respectively. The underwriter has been granted a 45-day option to purchase up to an additional 2,250,000 units offered by the Company to cover over-allotments, if any. The offering is expected to close on May 2, 2025, subject to customary closing conditions.

Clear Street is acting as the sole book-running manager in the offering. Winston & Strawn LLP is serving as legal counsel to the Company and Appleby (Cayman) Ltd. is serving as Cayman Islands legal counsel to the Company. DLA Piper LLP (US) is serving as legal counsel to Clear Street.

A registration statement on Form S-1 (333-283972) relating to these securities has been filed with the Securities and Exchange Commission (“SEC”) and was declared effective on April 30, 2025. The offering is being made only by means of a prospectus. Copies of the prospectus may be obtained, when available, from Clear Street, Attn: Syndicate Department, 150 Greenwich Street, 45th floor, New York, NY 10007, by email at ecm@clearstreet.io, or from the SEC website at www.sec.gov.

This press release shall not constitute an offer to sell or a 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.

About Copley Acquisition Corp

The Company is a blank check company incorporated in the Cayman Islands as an exempted company incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or other similar business combination with one or more businesses. It has not selected any specific business combination target and has not, nor has anyone on its behalf, engaged in any substantive discussions, directly or indirectly, with any business combination target with respect to an initial business combination. While the Company may pursue a business combination target in any business or industry, it intends to focus its search for businesses in either the technology or lifestyle sectors.

Forward-Looking Statements

This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based. No assurance can be given that the offering discussed above will be completed on the terms described, or at all. 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 Registration Statement and related preliminary prospectus filed in connection with the initial public offering with the SEC. Copies are available on the SEC’s website, www.sec.gov.

Contact Information

Copley Acquisition Corp
Suite 4005-4006, 40/F, One Exchange Square
8 Connaught Place, Central, Hong Kong

Francis Ng
Co-Chief Executive Officer
Email: francis.ng@copleyacquisition.com
Phone: +852 2861 3335

FAQ

What is the IPO price of Copley Acquisition Corp (COPLU) units?

Copley Acquisition Corp's IPO is priced at $10.00 per unit, with 15,000,000 units being offered on the New York Stock Exchange under the symbol COPLU.

When will COPLU stock start trading on NYSE?

COPLU units are expected to begin trading on the New York Stock Exchange (NYSE) on May 1, 2025.

What do COPLU units include in the IPO offering?

Each COPLU unit consists of one Class A ordinary share and one-half of one redeemable warrant. Each whole warrant allows purchase of one Class A ordinary share at $11.50 per share.

What are the separate trading symbols for Copley Acquisition components?

Once separate trading begins, the Class A ordinary shares will trade under 'COPL' and the warrants under 'COPLW' on the NYSE.

How many additional units can be purchased in COPLU's over-allotment option?

The underwriter has a 45-day option to purchase up to 2,250,000 additional units to cover over-allotments.

What is the total IPO value of Copley Acquisition Corp?

The initial public offering is valued at $150,000,000, based on 15,000,000 units at $10.00 per unit.