Company: BPAC
Filing Date: 2025-10-22
Form Type: S-1/A
Source: 0001185185-25-001525
Chunk: 268

Company: Blueport Acquisition Ltd
Filing Date: 2025-10-22
Form: S-1/A
Chunk 268
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 temporary
equity will be the allocated proceeds determined in accordance with ASC 470-20. If it is probable that the equity instrument will
become redeemable, the Company has the option to either (i) accrete changes in the redemption value over the period from the date
of issuance (or from the date that it becomes probable that the instrument will become redeemable, if later) to the earliest redemption
date of the instrument or (ii) recognize changes in the redemption value immediately as they occur and adjust the carrying amount
of the instrument to equal the redemption value at the end of each reporting period. The Company has elected to recognize the changes
in redemption value in additional paid-in capital (or accumulated deficit in the absence of additional paid-in capital) over an expected
15-month period, which is the initial period that the Company has to complete a Business Combination.

<div align='center'>F-11

BLUEPORT ACQUISITION LTD

NOTES TO FINANCIAL STATEMENTS</div>

Note 2 — Summary of Significant Accounting Policies (cont.)

Recent Accounting Standards

In November 2023, the FASB issued ASU No. 2023-07,
Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires the disclosure of additional segment information.
ASU No. 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after
December 15, 2024. The Company adopted ASU 2020-06 as of the inception of the Company. Adoption of the ASU did not impact the Company’s
financial position, results of operations or cash flows.

In December 2023, the FASB issued ASU 2023-09, Income taxes(Topic 740): Improvements to Income Tax Disclosure (“ASU 2023-09”), which enhances the transparency and usefulness
of income tax disclosures. ASU 2023-09 will be effective for fiscal years beginning after December 15, 2024. Early adoption is permitted
for annual financial statements that have not yet been issued or made available for issuance. The Company is currently evaluating the
impact of the pending adoption of ASU 2023-09 on its financial statements.

Management does not believe that any other recently
issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company’s financial
statements.

Note 3 —