Company: BACC
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001185185-25-001689
Chunk: 61

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 8
Chunk 61
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emable shares following the
two-class method of income (loss) per ordinary shares. In order to determine the net income (loss) attributable to both the redeemable
shares and non-redeemable shares, the Company first considered the total income allocable to both classes of ordinary shares. This is
calculated using the total net income (loss) less any dividends paid. For purposes of calculating net income (loss) per share, any remeasurement
of the Class A ordinary shares subject to possible redemption was treated as dividends paid to the public stockholders. Subsequent to
calculating the total income (loss) allocable to both classes of ordinary shares, the Company split the amount to be allocated using
the weighted average shares outstanding ratio for the redeemable shares and for the non-redeemable shares for the three months ended
September 30, 2025 and for the period from February 10, 2025 (inception) through September 30, 2025.

8

BLUE
ACQUISITION CORP.
NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

SEPTEMBER
30, 2025

The Company has not considered the effect of the
2,012,500 Class A ordinary shares underlying the Public Rights or 59,225 Class A ordinary shares underlying the Private Placement Rights
in the calculation of diluted net income (loss) per share, since the exercise of such rights are contingent upon the occurrence of future
events and the inclusion of such rights would be anti-dilutive.

The
following table presents a reconciliation of the numerator and denominator used to compute basic and diluted net income (loss) per ordinary
share for each class of ordinary shares for the three months ended September 30, 2025:

    For the Three Months Ended 

    September 30, 2025 
  
    Net income 
    $1,879,085 
  
    Less: Remeasurement of Class A ordinary shares to redemption value 
     (2,106,133)
  
    Net loss including accretion of Class A redeemable shares to redemption value 
    $(227,048)

    For the Three Months Ended 

    September 30, 2025 

    Non-redeemable Class A and  
    Redeemable shares 

    Class B  
    Class A 

    Ordinary shares  
    Ordinary shares 
  
    Total number of shares 
     7,