Company: BACC
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001185185-25-001689
Chunk: 101

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 2
Chunk 101
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, capital expenditures, acquisitions, debt service requirements, execution of
our strategy and other purposes and other disadvantages compared to our competitors who have less debt.

As
indicated in the unaudited condensed financial statements and the notes thereto included in this Report under “Item 1. Financial
Statements”, at September 30, 2025, we had $1,045,403 of cash and working capital of $1,061,429. Further, we expect to incur significant
costs in the pursuit of our initial Business Combination. We cannot assure you that our plans to raise capital or to complete our initial
Business Combination will be successful.

We
may seek to extend the Combination Period consistent with applicable laws, regulations and stock exchange rules by amending our Amended
and Restated Articles. Any such amendment would require the approval of our Public Shareholders, who will be provided the opportunity
to redeem all or a portion of their Public Shares in connection with the vote on such approval. Such redemptions will decrease the amount
held in our Trust Account and our capitalization, and may affect our ability to maintain our listing on Nasdaq. In addition, the Nasdaq
Rules currently require SPACs (such as us) to complete their initial Business Combination in accordance with the Nasdaq 36-Month Requirement.
If we do not meet the Nasdaq 36-Month Requirement, our securities will likely be subject to a suspension of trading and delisting from
Nasdaq.

Recent
Developments

The Sponsor deposited an aggregate of $249,950 into
our bank account, depositing $50,000 in April 2025, and $199,950 in May 2025. The $249,950 were accounted for as a capital contribution
by the Sponsor and applied to the Sponsor’s purchase of Private Placement Units in the Private Placement.

In
May 2025, we 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 Ordinary Shares
were subject to forfeiture to our Company by the Sponsor for no consideration to the extent that the Over-Allotment Option is not exercised
in full or in part. All share and per-share amounts have been retroactively restated to reflect the share capitalization.

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June