Company: BACC
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001185185-25-000892
Chunk: 21

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 1
Chunk 21
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us entitled “Principal Shareholders — Restrictions
on Transfers of Founder Shares and Private Placement Units”).

On
June 16, 2025, the Company issued 175,000 Representative Shares to the underwriters and/or heir designees upon the consummation of the
Initial Public Offering (see Note 9).

Note 8 — Shareholder’s
Equity

Preference
Shares

The Company is authorized to issue a total of 5,000,000 preference shares at par value of $0.0001 each.
As of March 31, 2025, there were no preferred shares issued or outstanding.

Class A
Ordinary Shares 

The
Company is authorized to issue a total of 500,000,000 Class A ordinary shares at par value of $0.0001 each. As of March 31, 2025
there were no Class A ordinary shares issued or outstanding.

Class B
Ordinary Shares 

The Company is authorized to issue a total of 50,000,000 Class B ordinary shares at
par value of $0.0001 each. On February 20, 2025, the Sponsor made a capital contribution of $25,000, or approximately $0.004 per share,
through payments of offering costs and expenses on the Company’s behalf, for which the Company issued 6,059,925 Class B ordinary
shares, known as founder shares, to the Sponsor. In May 2025, the Company effected a share capitalization pursuant to which the
Company issued an additional 1,009,988 founder shares resulting in an aggregate of 7,069,913 founder shares outstanding to the Sponsor,
resulting in a price per share of approximately $0.004 per share. Up to 922,163 of the founder shares may be surrendered by the Sponsor
for no consideration depending on the extent to which the underwriters’ over-allotment is exercised. All share and per-share amounts
have been retroactively restated to reflect the share capitalization. As of March 31, 2025, there were 7,069,913 Class B ordinary shares
issued and outstanding. The founder shares include an aggregate of up to 922,163 shares subject to forfeiture if the over-allotment option
is not exercised by the underwriters in full.

13

BLUE ACQUISITION CORP.
NOTES TO UNAUDITED CONDENSED FINANC