Company: BACC
Filing Date: 2025-06-11
Form Type: S-1/A
Source: 0001185185-25-000607
Chunk: 346

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-06-11
Form: S-1/A
Chunk 346
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 Act), instruct the trustee
to liquidate the investments held in the Trust Account and instead to hold the funds in the Trust Account in cash or in an interest bearing
demand deposit account at a bank. Except with respect to interest earned on the funds held in the Trust Account that may be released to
the Company to pay its taxes, if any, the proceeds from the Proposed Public Offering and the sale of the Private Placement Units will
not be released from the Trust Account until the earliest of (i) the completion of the Company’s initial Business Combination,
(ii) the redemption of the Company’s public shares if the Company is unable to complete the initial Business Combination within
21 months from the closing of the Proposed Public Offering or by such earlier liquidation date as our board of directors may approve (the
“Completion Window”), subject to applicable law, or (iii) the redemption of the Company’s public shares properly
submitted in connection with a shareholder vote to amend the Company’s amended and restated memorandum and articles of association
to (A) modify the substance or timing of the Company’s obligation to allow redemption in connection with the initial Business
Combination or to redeem 100% of the Company’s public shares if the Company has not consummated an initial Business Combination
within the Completion Window or (B) with respect to any other material provisions relating to shareholders’ rights or pre-initial
Business Combination activity. The proceeds deposited in the Trust Account could become subject to the claims of the Company’s creditors,
if any, which could have priority over the claims of the Company’s public shareholders.

<div align='center'>F-7

BLUE ACQUISITION CORP.
NOTES TO FINANCIAL STATEMENTS</div>

Note 1 — Organization and Business Operations(cont.)

The Company will provide the Company’s public
shareholders with the opportunity to redeem all or a portion of their public shares upon the completion of the initial Business Combination
either (i) in connection with a general meeting called to approve the initial Business Combination or (ii) without a shareholder
vote by means of a tender offer. The decision as to whether the Company will seek shareholder approval of a proposed initial Business
Combination or conduct a tender offer will be made by the Company, solely in its discretion. The public shareholders will be entitled
to redeem their shares at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account calculated
as of two business days prior to the consummation of the initial Business