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Copley Acquisition extends business combination deadline to November 2027, raises $2.4M via sponsor note
COPLCopley Acquisition Corp
Shareholders approved an amendment extending the termination date for a business combination from November 2, 2026, to November 2, 2027. The company issued a $2,400,000 unsecured promissory note to its sponsor to fund monthly extension deposits of $200,000 into the trust account. Approximately $137.1 million was paid out in redemptions at $10.63 per share, leaving roughly $46.2 million in the trust and 4.55 million shares outstanding. Copley Acquisition Corp is a blank check company incorporated in the Cayman Islands for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.