Copley Acquisition Sets Sights on $150 Million NYSE Debut, Targeting Tech and Lifestyle Goldmines

Copley Acquisition, a special purpose acquisition corporation (SPAC) supported by investment firms from Hong Kong including Pacific Aegis Capital Management (PACM), Gobi Partners, and Hermitage Capital, is planning to secure US$150 million on the New York Stock Exchange (NYSE).

The SPAC has set its initial public offering (IPO) price at US$10 per unit for 15 million units, according to a filing submitted to the US Securities and Exchange Commission on Friday.

The SPAC’s listing may occur in February 2025, pending regulatory approval. The funds raised will be utilized to merge with targets in the technology and lifestyle sectors across North America and Asia-Pacific, excluding China.

“We are looking at prospects fueled by the equity market resurgence, particularly as the new [US] administration assumes office next year,” stated Francis Ng, co-CEO of Copley, on Monday. “The listed SPAC is expected to capitalize on the market momentum in the coming year.”

Copley indicated in the filing that the technology and lifestyle sectors, especially those that significantly benefit from next-generation technology, offer “plenty of opportunities for business combinations.”