Copley Acquisition Corp issues $450K convertible promissory note to sponsor; $146.6K rolled from prior note

Copley Acquisition Corp

Unsecured convertible note to Copley Acquisition Sponsors LLC; principal up to $450,000 for working capital.
Outstanding balance of $146,608.97 from a previous promissory note rolled into the new note.
Note bears no interest, with maturity on earlier of business combination or company liquidation.
Sponsor may convert principal at $7.00/unit into units identical to private placement units (one share + half warrant).
Sponsor waives all claims against the trust account; note repayable only from funds outside trust if no deal.

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