Company: BACC
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001185185-25-000948
Chunk: 4

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 1
Chunk 4
---
 Changes in operating assets and liabilities: 

    Prepaid expenses 
     (128,539)
  
    Accounts payable 
     47,376 
  
    Accrued expenses 
     8,505 
  
    Administrative support fee – related party 
     2,333 
  
    Net cash used in operating activities 
     (206,745)

    Cash Flows from Investing Activities: 

    Purchase of treasury securities in Trust Account 
     (201,250,000)
  
    Net cash used in investing activities 
     (201,250,000)

    Cash Flows from Financing Activities: 

    Proceeds from issuance of Class A ordinary shares 
     201,250,000 
  
    Proceeds from sale of private placement units 
     5,922,500 
  
    Payment of underwriting fees and reimbursements 
     (4,100,000)
  
    Payment of promissory note – related party 
     (193,236)
  
    Due from related party, net 
     (10,321)
  
    Excess cash contribution recorded under promissory note – related party 
     167,147 
  
    Payment of offering costs 
     (343,913)
  
    Net cash provided by financing activities 
     202,692,177 

    Net Change in Cash 
     1,235,432 
  
    Cash – Beginning of period 
     — 
  
    Cash – End of period 
    $1,235,432 

    Supplemental Non-Cash Investing and Financing Activities: 

    Deferred offering costs paid by Sponsor under promissory note – related party 
    $25,000 
  
    Prepaid expenses paid by Sponsor under promissory note – related party 
    $25,000 
  
    Initial fair value of Class A ordinary shares subject to possible redemption 
    $183,626,033 
  
    Remeasurement of Class A ordinary shares subject to possible redemption 
    $17,945,104 

The accompanying notes are an integral part of
the unaudited condensed financial statements.

4

BLUE
ACQUISITION CORP.
NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

JUNE 30, 2025

Note 1 — Organization
and Business Operations

Blue
Acquisition Corp. (the “Company”) is a special purpose acquisition company incorporated as a