Company: BACC
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001185185-25-000948
Chunk: 121

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 2
Chunk 121
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 or income for taxes paid), although the Redemption Price may
be less in certain circumstances. As a result, Public Shareholders who own our Public Shares on a redemption date can anticipate receiving
the Redemption Price in connection with a redemption for each Public Share that they choose to redeem.

There can be no assurance that, after our initial
Business Combination, our Public Shareholders would be able to sell their shares in the post-Business Combination company for the Redemption
Price, or any higher price. We have not, as yet, identified a target and are therefore unable to provide any assurances as to its financial
condition, business prospects or potential risks. It is therefore possible that the share price of the post-Business Combination company
may decline below the Redemption Price. In recent years, the share prices of many post-Business Combination companies have fallen
following a Business Combination. As a result, if our Public Shareholders continue to hold shares in the post-Business Combination company
following our initial Business Combination, we cannot assure our shareholders that the trading price of such shares will be greater than
the Redemption Price.

24

Certain agreements related to the Initial Public
Offering may be amended, or their provisions waived, without shareholder approval.

Certain of the agreements related to the Initial Public
Offering to which we are a party may be amended, or their provisions waived, without shareholder approval. Such agreements include the
(i) Underwriting Agreement, (ii) the Letter Agreement, (iii) the Registration Rights Agreement, (iii) the Private Placement Units Purchase
Agreement, and (iv) the Administrative Services Agreement. These agreements contain various provisions that our Public Shareholders might
deem to be material. For example, our Letter Agreement and the Underwriting Agreement contain certain lock-up provisions with respect
to the Founder Shares and other securities held by our Initial Shareholders, officers and directors, subject to certain exceptions. Amendments
or waivers to such agreements would require the consent of the applicable parties thereto and, in certain cases, the consent of the underwriters
of the Initial Public Offering. Any such modification, such as an amendment to shorten lock-up restrictions, may benefit our Initial Shareholders,
Sponsor, officers and/or directors. Any such amendments would not require approval from our shareholders, may result in the completion
of our initial Business Combination that may not otherwise have been possible, and may have an adverse effect on the value of an investment
in our securities. For example, although we would not amend lock-up provisions to permit