Copley Acquisition ups sponsor convertible note capacity to $900,000 from $450,000
COPL•Copley Acquisition increased the maximum principal on its sponsor convertible note to $900,000 from $450,000, with proceeds earmarked for working capital.
1. Note terms
Copley Acquisition issued an amended and restated, non-interest-bearing convertible promissory note to sponsor Copley Acquisition Sponsors on Oct. 6, 2026. It matures on the earlier of a business combination’s effective date or liquidation, and the sponsor may convert outstanding amounts into units at $7.00 each, with each unit consisting of one share and half a redeemable warrant. If no business combination closes, repayment is limited to funds outside the trust account, if any.
