Company: BACC
Filing Date: 2025-06-11
Form Type: S-1/A
Source: 0001185185-25-000607
Chunk: 182

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-06-11
Form: S-1/A
Chunk 182
---
LRH entered into an Agreement
and Plan of Merger (the “”), by and among WLRH, Neon Acquisition Company LLC, a wholly-owned
subsidiary of WLRH (“”), Neon Holding Company LLC, a wholly-owned subsidiary of Blocker Merger Sub
(“”), Nexeo Solutions Holdings, LLC (“”), TPG Accolade Delaware, L.P.
(“”), and Nexeo Holdco, LLC, a wholly-owned subsidiary of Nexeo (“”).

On June 9, 2016, pursuant to the Nexeo Merger
Agreement, WLRH consummated a business combination by which, WLRH acquired Nexeo Holdings Solutions, LLC, a global chemical and plastics
distributor with a centralized business model, through a series of two mergers (the “”). As a result
of the transactions contemplated by the Nexeo Merger Agreement, Nexeo Holdings and Blocker became wholly-owned subsidiaries of WLRH.
In connection with the closing, WLRH redeemed a total of 29,793,320 shares of its common stock, resulting in a total payment to redeeming
stockholders of $298,465,296. As part of the Nexeo Business Combination, WLRH paid the following consideration to the selling equityholders:
(i) $424.9 million in cash, which included the repayment of $774.6 million of Nexeo Holdings indebtedness that occurred immediately
following the consummation of the Nexeo Mergers and (ii) 27,673,604 shares of newly-issued WLRH common stock (the “Stock Consideration”),
subject to adjustment as set forth in the Nexeo Merger Agreement. Pursuant to the terms of the Nexeo Merger Agreement, the aggregate
stock ownership of the selling equityholders was capped at 35% of the value of the capital stock of WLRH. As a result of this cap,
and pursuant to the Nexeo Merger Agreement, the selling equityholders also received a right to future deferred payments in cash in lieu
of receiving 5,654,960 additional shares (the “Excess Shares”), where such deferred cash payments were to be in an amount
equal to WLRH’s prevailing stock price at the time that WLRH pays such deferred cash payments multiplied by the Excess Shares.
Additionally, the selling equityholders received from WLRS 3,554,240 of the 12,506,250 founder shares. In addition to the transactions