Asia Pacific SPAC Copley Acquisition Preparing for a $150 Million NYSE IPO

Asia Pacific SPAC Copley Acquisition and Its Ambitious IPO Plans

Copley Acquisition, a special purpose acquisition company (SPAC) supported by Hong Kong-based investment firms Pacific Aegis Capital Management, Gobi Partners, and Hermitage Capital, is gearing up to raise $150 million on the New York Stock Exchange (NYSE). The SPAC has priced its initial public offering (IPO) at $10 per unit for a total of 15 million units, according to a filing with the US Securities and Exchange Commission.

The anticipated listing could occur in February 2025, pending regulatory approval. Proceeds from this IPO will be directed towards mergers primarily in the technology and lifestyle sectors across North America and Asia-Pacific, with China excluded.

Market Opportunities and Leadership Insights

According to Francis Ng, co-CEO of Copley, the firm is on the lookout for opportunities spurred by improvements in the equity market, particularly with the new Trump administration entering next year.

“The listed SPAC should benefit from market momentum next year,” Ng stated. Copley’s filing indicated that the targeted sectors are ripe with business combination opportunities.

• Copley will prioritize industries including:
• Electric vehicles
• Robotics
• Cybersecurity
• Lifestyle services, such as luxury apparel and travel

Ng, who previously held the position of president and CFO of Black Spade Acquisition, which merged with VinFast Auto recently, affirms that these chosen sectors are close to the management team’s interests.

Lastly, Copley has a timeline of 24 months to finalize its initial business combination post-IPO, with potential extensions allowed.

Clear Street is serving as the sole bookrunner for this IPO process.