Company: BACC
Filing Date: 2025-11-19
Form Type: 425
Source: 0001185185-25-001807
Chunk: 2

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-11-19
Form: 425
Chunk 2
---
 B Shares”
and together with the Company Series A Shares, the “Company Common Stock”), at the applicable conversion ratio
(including any accrued or declared but unpaid dividends) as set forth in Blockfusion’s certificate of incorporation, as amended
(the “Preferred Conversion”), (ii) and on the Closing Date, (A) SPAC Merger Sub will merge with and into
Blue, with Blue continuing as the surviving entity (the “SPAC Merger”) and, as a result of which, each issued
and outstanding security of Blue immediately prior to the effective time of the SPAC Merger shall no longer be outstanding and shall automatically
be cancelled in exchange for which the security holders of Blue shall receive substantially equivalent securities of Pubco, (B) Company
Merger Sub will merge with and into Blockfusion, with Blockfusion continuing as the surviving entity (the “Company Merger”,
and together with the SPAC Merger, the “Mergers”), and as a result of which each issued and outstanding security
of Blockfusion immediately prior to the effective time of the Company Merger shall no longer be outstanding and shall automatically be
cancelled in exchange for which the security holders of Blockfusion shall receive shares of common stock, par value $0.0001 per share,
of Pubco (“Pubco Common Stock”), with holders of Company Series B Shares receiving shares of Pubco Class B common
stock, par value $0.0001 per share, which will have the same economic rights as the Pubco Class A Shares, but will have the right to 20
votes per share (the “Pubco Class B Shares”) for such Company Class B Shares and holders of Company Series A
Shares receiving Pubco Class A common stock, par value $0.0001 per share (the “Pubco Class A Shares”) for such
Company Series A Shares. As a result of the Mergers and the other Transactions, Blue and Blockfusion will become wholly-owned subsidiaries
of Pubco, all upon the terms and subject to the conditions set forth in the Business Combination Agreement, and Pubco will become a publicly
traded company.

Additionally, at the effective
time of the Mergers (the “Effective Time”), each outstanding and unexercised option to purchase Company Common
Stock (each, a “Company Option”) will be assumed by and become an option of Pubco (each, an “Assumed Option”) containing the same terms, conditions, vesting and other provisions as are