Company: BACC
Filing Date: 2025-06-02
Form Type: S-1/A
Source: 0001185185-25-000574
Chunk: 183

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-06-02
Form: S-1/A
Chunk 183
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, 2024, prior to the domestication, Swiftmerge redeemed 1,158,556 Class A ordinary shares, approximately 16.9% of the shares entitled to vote upon the business combination, for $11.39 per share.

Argyle Security, Inc.

From September 2005 to October 2009, General Clark, our
Non-Executive Chairman nominee, was a director of Argyle Security, Inc., formerly Argyle Security Acquisition Corporation,
incorporated in Delaware in June 2005 as a special purpose acquisition company focused on acquiring a business in the security
industry.

In January 2006, Argyle
Security Acquisition Corporation (“Argyle”) consummated an initial public offering of its units, each consisting of one share
of common stock and one warrant to purchase one additional share of common stock, for a purchase price of $8.00 per unit, from which
it received net proceeds of approximately $28.2 million (after deducting certain offering expenses of approximately $2.4 million, including
underwriting discounts of approximately $1.8 million), together with net proceeds of approximately $0.9 million from a private placement.
Approximately $27.3 million of the proceeds from the initial public offering and the private placement was placed in a trust account
for Argyle’s benefit.

On July 31, 2007, pursuant to the terms of
a Merger Agreement, dated December 8, 2006, as amended on June 29, 2007 and July 11, 2007 (“Merger Agreement”), Argyle acquired all of the assets and liabilities of ISI-Detention Contracting Group, Inc. (“ISI”)
through the merger of Argyle’s wholly-owned subsidiary, ISI Security Group, Inc., into ISI. As a result of the merger, ISI became
a wholly owned subsidiary of Argyle. ISI is a provider of physical security solutions to commercial, governmental and correctional customers.

At the closing of the merger, the following
consideration was paid by Argyle to the stockholders of ISI:

| ● | $18,600,000 in cash;                                                                                                               |
| ● | 1,180,000 shares of common stock of Argyle (valued at approximately $9,180,000); and                                               |
| ● | $1,925,000 of unsecured promissory notes convertible into shares of common stock of Argyle at a conversion price of $10 per share. |

In addition