Copley Acquisition Corp Secures $172.5 Million in IPO
Deal News | May 02, 2025 | EIN
Copley Acquisition Corp, a blank check company, announced the successful closing of its initial public offering (IPO) on May 2, 2025, raising $172.5 million. The company issued 17,250,000 units, including 2,250,000 units from the exercise of the underwriters' over-allotment option, at a price of $10.00 per unit. Each unit contains one Class A ordinary share and half a redeemable warrant, with each warrant allowing purchase of one Class A ordinary share at $11.50. The units have begun trading on the NYSE under the ticker COPLU, with Class A shares and warrants to be separately listed as COPL and COPLW, respectively. Clear Street served as the sole book runner for the offering, while legal counsel was provided by Winston & Strawn LLP, with Appleby representing the Cayman Islands legal aspects and DLA Piper advising Clear Street. The blank check company has not yet identified a business combination target but aims to focus on the technology or lifestyle sectors.
Sectors
- Financial Services
- Technology
- Lifestyle
Geography
- Hong Kong – Copley Acquisition Corp's headquarters are located in Hong Kong.
- United States – The initial public offering (IPO) was conducted on the New York Stock Exchange (NYSE), which is based in the U.S.
- Cayman Islands – Copley Acquisition Corp is incorporated in the Cayman Islands as an exempted company.
Industry
- Financial Services – Relates to Copley's role as a blank check company specifically structured for mergers, acquisitions, or similar transactions.
- Technology – Copley Acquisition Corp intends to focus its merger and acquisition efforts within this sector.
- Lifestyle – Copley Acquisition Corp is considering potential business combination targets in this sector as well.
Financials
- $172,500,000 – Gross proceeds from Copley Acquisition Corp's initial public offering.
- $11.50 – Price at which each whole warrant allows the purchase of one Class A ordinary share.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Copley Acquisition Corp | Issuer | Company | A blank check company incorporated for the purpose of mergers and acquisitions. |
| Clear Street | Sole Book-Running Manager | Company | Responsible for managing the IPO process for Copley Acquisition Corp. |
| Winston & Strawn LLP | Legal Advisor | Company | Provided legal counsel to Copley Acquisition Corp for the IPO. |
| Appleby (Cayman) Ltd. | Cayman Islands Legal Counsel | Company | Provided Cayman Islands legal advice to Copley Acquisition Corp. |
| DLA Piper LLP (US) | Legal Advisor | Company | Provided legal counsel to Clear Street. |