Company: BACC
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001185185-25-001689
Chunk: 64

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 8
Chunk 64
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 redemption of such Public Shares in connection with the Company’s
liquidation, or if there is a shareholder vote or tender offer in connection with the Company’s initial Business Combination. In
accordance with ASC 480-10-S99, the Company classifies Public Shares subject to possible redemption outside of permanent equity as the
redemption provisions are not solely within the control of the Company. The Company recognizes changes in redemption value immediately
as they occur and will adjust the carrying value of redeemable shares to equal the redemption value at the end of each reporting period.
Immediately upon the closing of the Initial Public Offering, the Company recognized the accretion from initial book value to redemption
value. The change in the carrying value of redeemable shares will result in charges against additional paid-in capital (to the extent
available) and accumulated deficit. Accordingly, as of September 30, 2025, Class A ordinary shares subject to possible redemption are
presented at redemption value as temporary equity, outside of the shareholders’ deficit section of the Company’s balance
sheet. As of September 30, 2025, the Class A ordinary shares subject to possible redemption reflected in the balance sheet are reconciled
in the following table:

    Gross proceeds from Initial Public Offering 
    $201,250,000 
  
    Less: 

    Proceeds allocated to Public Rights 
     (4,361,306)
  
    Offering costs allocated to Class A ordinary shares subject to possible redemption 
     (13,262,661)
  
    Plus: 

    Accretion of Class A ordinary shares subject to possible redemption 
     20,051,237 
  
    Class A ordinary shares subject to possible redemption at September 30, 2025 
    $203,677,270 

10

BLUE
ACQUISITION CORP.
NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

SEPTEMBER
30, 2025

Rights

The
Company will account for the Public Rights and Private Placement Rights to be issued in connection with the Initial Public Offering and
the private placement in accordance with the guidance contained in FASB ASC Topic 815, “Derivatives and Hedging”. Accordingly,
the Company evaluated and will classify the rights under equity treatment at their assigned values. There are no Public Rights or Private
Placement Rights currently outstanding as of September 30, 2025.

Recent
Accounting Pronouncements

In
November 2023,