Company: BPAC
Filing Date: 2025-04-09
Form Type: DRS
Source: 0001185185-25-000273
Chunk: 245

Company: Blueport Acquisition Ltd
Filing Date: 2025-04-09
Form: DRS
Chunk 245
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 fails to complete its initial Business Combination within 15 months from the effective date of the registration statement, although they will be entitled to liquidating distributions from the Trust Account with respect to any public shares they hold if the Company fails to complete its initial Business Combination within such time period and (iii) the Founder Shares and private placement shares are subject to registration rights. If the Company submits its initial Business Combination to its public shareholders for a vote, the Sponsor, officers and directors have agreed (and their permitted transferees will agree), pursuant to the terms of a letter agreement to be entered into with the Company, to vote any Founder Shares and private placement shares held by them and any public shares purchased during or after the Proposed Public Offering in favor of the Company’s initial Business Combination.

<div align='center'>F-12

BLUEPORT ACQUISITION LTD

NOTES TO FINANCIAL STATEMENTS</div>

Note 5 — Related Party Transactions(cont.)

With certain limited exceptions, the Founder Shares are not transferable, assignable or salable (except to certain permitted transferees)) until the earlier of 180 days after the date of the consummation of the Company’s initial Business Combination or the date on which the closing price of the Company’s ordinary shares equals or exceeds $12.00 per share (as adjusted for share subdivisions, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 90 days after the Company’s initial Business Combination.

Promissory Note — Related Party

On February 28, 2025, the Sponsor agreed to loan the Company up to an aggregate amount of $300,000 to be used, in part, for transaction costs incurred in connection with the Proposed Public Offering (the “Promissory Note”). The Promissory Note is unsecured, interest-free; the principal may be drawn down from time to time upon a written request from the Company to the Sponsor. The Promissory Note is due on the earlier of: (i) the date on which the Company consummates an initial public offering of its securities, or (ii) the date on which the Company determines to not proceed with such initial public offering. As of February 28, 2025, no amount was outstanding under the Promissory Note.

Administrative Services Agreement

The Company will enter into an Administrative Services Agreement with the Sponsor on the effective date of the registration statement of the initial public offering through the earlier