Company: BACC
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001185185-25-000948
Chunk: 64

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 8
Chunk 64
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the private placement and do not have redemption rights to the amounts held in the Trust Account. Class B ordinary shares are the founder
shares which do not have redemption rights on the amounts held in the Trust Account. Redeemable shares are the Class A ordinary shares
underlying the Units issued at the Initial Public Offering and have redemption rights to the amounts held in the Trust Account.

The Company complies with accounting and disclosure
requirements of ASC Topic 260, “Earnings Per Share”. The condensed statements of operations include a presentation of income
(loss) per redeemable shares and income (loss) per non-redeemable shares following the two-class method of income (loss) per ordinary
shares. In order to determine the net income (loss) attributable to both the redeemable shares and non-redeemable shares, the Company
first considered the total income allocable to both classes of ordinary shares. This is calculated using the total net income (loss) less
any dividends paid. For purposes of calculating net income (loss) per share, any remeasurement of the Class A ordinary shares subject
to possible redemption was treated as dividends paid to the public stockholders. Subsequent to calculating the total income (loss) allocable
to both classes of ordinary shares, the Company split the amount to be allocated using the weighted average shares outstanding ratio for
the redeemable shares and for the non-redeemable shares for the three months ended June 30, 2025 and for the period from February 10,
2025 (inception) through June 30, 2025.

8

BLUE ACQUISITION CORP.
NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

JUNE 30, 2025

The Company has not considered the effect of the
2,012,500 Public Rights or 59,225 Private Placement Rights in the calculation of diluted net income (loss) per share, since the exercise
of such rights are contingent upon the occurrence of future events and the inclusion of such rights would be anti-dilutive.

The following table presents a reconciliation
of the numerator and denominator used to compute basic and diluted net income (loss) per ordinary share for each class of ordinary shares
for the three months ended June 30, 2025:

    For the Three Months Ended 

    June 30,
 2025 
  
    Net income 
    $245,414 
  
    Less: Remeasurement of Class A ordinary shares