Company: BACC
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001185185-25-000892
Chunk: 24

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 1
Chunk 24
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 event the Company
is not the surviving Company upon completion of the initial Business Combination, each holder of a Share Right will be required to affirmatively
convert its Share Rights in order to receive the one tenth (1/10) of one Class A ordinary share underlying each Share Right upon consummation
of the Business Combination. The Company will not issue fractional shares in connection with an exchange of Share Rights. Fractional
shares will either be rounded down to the nearest whole share or otherwise addressed in accordance with the applicable provisions of
Cayman Islands law. As a result, you must hold Share Rights in multiples of 10 in order to receive shares for all of your Share Rights
upon closing of a Business Combination. If the Company is unable to complete an initial Business Combination within the required time
period and the Company redeems the public shares for the funds held in the Trust Account, holders of Share Rights will not receive any
of such funds for their Share Rights and the Share Rights will expire worthless. 

Note 9 — Subsequent
Events 

The
Company evaluated subsequent events and transactions that occurred after March 31, 2025, the balance sheet date, through the date that
the financial statements were available to be issued. Based upon this review, the Company did not identify any subsequent events that
would have required adjustment or disclosure in the financial statements, other than as disclosed below. 

14

BLUE ACQUISITION CORP.
NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

MARCH 31, 2025

The
Sponsor deposited an aggregate of $249,950 into the Company’s bank account, depositing $50,000 in April 2025, and $199,950 in May
2025. The $249,950 will be accounted for as a capital contribution by the Sponsor and applied to the Sponsor’s purchase of Private
Placement Units in the private placement that closed simultaneously with the Initial Public Offering. 

In
May 2025, the Company effected a share capitalization for an additional 1,009,988 Class B ordinary shares for no additional consideration,
resulting in 7,069,913 Class B ordinary shares outstanding. Of the 7,069,913 Class B ordinary shares outstanding, up to 922,162 shares
are subject to forfeiture to the Company by the Sponsor for no consideration to the extent that the underwriters’ over-allotment
option is not exercised in full or