Company: BACC
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001185185-25-000892
Chunk: 30

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 1
Chunk 30
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 Public Offering and the Private Placement (which amount includes up to $7,043,750 of the underwriters’ deferred underwriting
commissions), was placed in a U.S.-based trust account maintained by Continental, acting as trustee, with the remaining proceeds from
the Private Placement going to the our working capital account (a portion of which will be used to pay offering expenses). Except with
respect to interest earned on the funds in the Trust Account that may be released to the us to pay our taxes, if any, and up to $100,000
for dissolution expenses, the funds held in the Trust Account will not be released from the Trust Account until the earliest of (i) the
completion of the our initial Business Combination, (ii) the redemption of the Public Shares if we are unable to complete our initial
Business Combination within the Combination Period, subject to applicable law, or (iii) the redemption of the Public Shares properly submitted
in connection with a shareholder vote to amend the Amended and Restated Articles to modify (x) the substance or timing of its obligation
to redeem 100% of the Public Shares if it has not consummated an initial Business Combination within the Combination Period or (y) any
other material provisions relating to shareholders’ rights or pre-initial Business Combination activity.

Results of Operations 

We have neither engaged in any operations nor
generated any revenues to date. Our only activities since February 10, 2025 (inception) have been organizational activities and those
necessary to prepare for an initial public offering. Following the initial public offering, we will not generate any operating revenues
until after completion of our initial Business Combination. We will generate non-operating income in the form of interest income on cash
and cash equivalents after the initial public offering. There has been no significant change in our financial or trading position and
no material adverse change has occurred since the date of our audited financial statements. After the Initial Public Offering, we expect
to incur increased expenses as a result of being a public company (for legal, financial reporting, accounting and auditing compliance,
among others), as well as for due diligence expenses. We expect our expenses to increase substantially after the closing of the Initial
Public Offering.

For the period from February 10, 2025 (inception)
through March 31, 2025, the Company had a net loss of $61,786 consisting of $61,816 of formation, general, and administrative expenses,
offset by $30 of interest income