Company: BACC
Filing Date: 2025-06-11
Form Type: S-1/A
Source: 0001185185-25-000607
Chunk: 98

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-06-11
Form: S-1/A
Chunk 98
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 officers and directors, and any other holder of our founder shares, including any non-managing sponsor investors may lose their entire investment in us if our initial business combination is not completed (other than with respect to public shares they may acquire during or after this offering), a conflict of interest may arise in determining whether a particular business combination target is appropriate for our initial business combination.

On February 20, 2025, our sponsor paid $25,000, or approximately $0.004 per share, to cover certain of our offering costs in exchange for 6,059,925 founder shares.

Prior to the initial investment in the company of $25,000 by the sponsor,
the company had no assets, tangible or intangible. The purchase price of the founder shares was determined by dividing the amount of cash
contributed to the company by the number of founder shares issued. The number of founder shares outstanding was determined based on the
expectation that the total size of this offering would be a maximum of 17,250,000 units if the underwriters’ over-allotment
option is exercised in full, and therefore that such founder shares would represent 26% of the outstanding shares after this offering
(excluding the private placement shares and assuming our initial shareholders do not purchase any units in this offering). An additional
1,009,988 founder shares were subsequently issued to our sponsor as share capitalization as a result of an increase in the maximum number
of units which may be sold in this offering to 20,125,000, assuming the underwriters’ exercise in full the over-allotment option.
Our public shareholders may incur material dilution due to such anti-dilution adjustments that result in the issuance of Class A ordinary
shares on a greater than one-to-one basis upon conversion. Up to 922,163 of the founder shares will be surrendered for no consideration
depending on the extent to which the underwriters’ over-allotment option is exercised. The founder shares will be worthless if we
do not complete an initial business combination, except to the extent they receive liquidating distributions from assets outside of the
trust account. In addition, our sponsor, and BTIG and Roberts & Ryan, the underwriters, have committed, pursuant to written agreements,
to purchase from us an aggregate of 539,750 private placement units (or 592,250 private placement units if the underwriters’ over-allotment
option is exercised in full) at $10.00 per unit for an aggregate purchase price