Company: BACC
Filing Date: 2025-05-14
Form Type: S-1
Source: 0001185185-25-000465
Chunk: 151

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-05-14
Form: S-1
Chunk 151
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| (5) | Payments                                                                                                                                      
 for office space and administrative support. for twelve (12) months only. Such payments will continue on a monthly basis until the completion 
 of our initial business combination or our liquidation, when we will cease paying these monthly fees.                                         |

Nasdaq rules provide that at least 90% of the gross
proceeds from this offering and the sale of the private placement units be deposited in a trust account. Of the $154,900,000 in gross
proceeds we receive from this offering and the sale of the private placement units described in this prospectus, or $177,850,000 if the
underwriters’ over-allotment option is exercised in full, $150,000,000 ($10.00 per unit), or $172,500,000 if the underwriters’
over-allotment option is exercised in full ($10.00 per unit), will be deposited into a trust account in the United States with Continental
Stock Transfer & Trust Company acting as trustee, after deducting $3,000,000 in underwriting discounts and commissions payable
upon the closing of this offering (or $3,450,000 if the underwriters’ over-allotment option is exercised in full) and an aggregate
of $1,900,000 to pay fees and expenses in connection with the closing of this offering and for working capital following the closing of
this offering. The proceeds held in the trust account will initially be invested only in U.S. government treasury obligations with
a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7 under the Investment
Company Act which invest only in direct U.S. government treasury obligations; the holding of these assets in this form is intended
to be temporary and for the sole purpose of facilitating the intended business combination. To mitigate the risk that we might be deemed
to be an investment company for purposes of the Investment Company Act, which risk increases the longer that we hold investments in the
trust account, we may, at any time (based on our management team’s ongoing assessment of all factors related to our potential status
under the Investment Company 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. We expect that the interest earned on the
trust account will be sufficient to pay taxes.