Copley Acquisition Corp closes $172.5M IPO; trust funded at $10.05/unit; going concern flagged

Copley Acquisition Corp

IPO of 17,250,000 units at $10.00/unit (incl. full over-allotment) grossed $172.5M.
Private placement of 555,893 units to Sponsor generated $4.09M; total trust deposit $173.36M.
Auditor raised substantial doubt about going concern; cash of $633K and working capital surplus of $323K.
Trust proceeds held in U.S. government obligations; Company has 18 months to complete business combination.

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