Company: BACC
Filing Date: 2025-11-19
Form Type: 425
Source: 0001185185-25-001807
Chunk: 13

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-11-19
Form: 425
Chunk 13
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 Holder in the Transactions, (ii) enter into any swap or other arrangement
that transfers to another, in whole or in part, any of the economic consequences of ownership of such shares of Pubco Common Stock, or
(iii) publicly disclose the intention to do any of the foregoing, for a period commencing from the Closing and ending on the date that
is 6 months after the Closing (subject to early release on the earlier upon (x) the date on which the volume-weighted average trading
price of Pubco Class A Shares quoted on Nasdaq (or such other exchange on which the Pubco Class A Shares may then be listed) is greater
than or equal to $15.00 for any 20 trading days within any 30 consecutive trading day period beginning on the day of Closing and (y) the
date after the Closing on which Pubco consummates a liquidation, merger, capital stock exchange, reorganization or other similar transaction
that results in all of its stockholders having the right to exchange their Pubco Class A Shares for cash, securities, or other property),
subject to certain customary transfer exceptions. A copy of the form of the Lock-Up Agreement is attached as Exhibit 10.2 hereto and is
incorporated herein by reference.

Insider Letter Amendment

Simultaneously with the execution
of the Business Combination Agreement, Blue, Pubco, Blockfusion and BTIG, LLC, on the one hand, and Blue Holdings Sponsor, LLC (the “Sponsor”)
and Blue’s directors and officers, on the other hand, entered into an amendment (the “Insider Letter Amendment”)
to the letter agreement that was entered into in connection with Blue’s initial public offering (the “Insider Letter”)
to (i) add Pubco and Blockfusion as parties to the Insider Letter, (ii) revise the terms of the Insider Letter to reflect the Transactions,
including the issuance of Pubco securities in exchange for Blue securities, and have Pubco assume and be assigned the rights and obligations
of Blue under the Insider Letter, and (iii) amend the terms of the lock-up set forth in the Insider Letter to conform with the lock-up
terms in the Lock-Up Agreements described above, subject to and contingent upon the Closing. A copy of the Insider Letter Amendment is
attached as Exhibit 10.3 hereto and is incorporated herein by reference.

Non-Competition and Non-Solicitation Agreement

Simultaneously with the execution
and delivery