Company: BPAC
Filing Date: 2025-05-16
Form Type: DRS/A
Source: 0001185185-25-000502
Chunk: 116

Company: Blueport Acquisition Ltd
Filing Date: 2025-05-16
Form: DRS/A
Chunk 116
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 tangible book value, which is our total tangible assets less total liabilities (including the value of ordinary shares which may be redeemed for cash), by the number of issued and outstanding ordinary shares.

As of February 28, 2025, our net tangible book deficit was $84,052, or approximately $(0.04) per share of ordinary shares. For purposes of the dilution calculation, in order to present the maximum estimated dilution as a result of this offering, we have assumed (i) the issuance of one-sixth of a share for each right outstanding, as such issuance will occur upon a business combination without the payment of additional consideration and (ii) the number of ordinary shares included in the units offered hereby will be deemed to be 8,050,000 ordinary shares (consisting of 6,900,000 ordinary shares included in the units we are offering by this prospectus and 1,150,000 ordinary shares for the outstanding rights), and the price per share in this offering will be deemed to be $8.57. After giving effect to the sale of 6,900,000 ordinary shares included in the units we are offering by this prospectus (or 7,935,000 ordinary shares if the underwriters’ over-allotment option is exercised in full) and assuming the issuance of 1,150,000 ordinary shares upon the conversion of the rights included in the units (or 1,322,500 ordinary shares if the underwriters’ over-allotment option is exercised in full), the sale of the private units and the deduction of underwriting commissions and estimated expenses of this offering, our pro forma net tangible book deficit at February 28, 2025, would have been $206,928 or $(0.06) per share (or $315,302 or $(0.09) per share if the underwriters’ over-allotment option is exercised in full), representing an immediate decrease in net tangible book value of $0.02 per share (or $0.05 per share if the underwriters’ over-allotment option is exercised in full) to the initial shareholders and an immediate dilution of 100.7% or $8.63 per share or (or 101.1% or $8.66 per share if the underwriters’ over-allotment option is exercised in full) to new investors not exercising their conversion/tender rights. For purposes of presentation, our pro forma net tangible book value after this offering is $69