Company: BACC
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001185185-25-000948
Chunk: 84

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 8
Chunk 84
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based trust account maintained by Continental, acting as trustee, with the remaining proceeds from
the Private Placement going to the our working capital account (a portion of which will be used to pay offering expenses). Except with
respect to interest earned on the funds in the Trust Account that may be released to the us to pay our taxes, if any, and up to $100,000
for dissolution expenses, the funds held in the Trust Account will not be released from the Trust Account until the earliest of (i) the
completion of the our initial Business Combination, (ii) the redemption of the Public Shares if we are unable to complete our initial
Business Combination within the Combination Period, subject to applicable law, or (iii) the redemption of the Public Shares properly submitted
in connection with a shareholder vote to amend the Amended and Restated Articles to modify (x) the substance or timing of its obligation
to redeem 100% of the Public Shares if it has not consummated an initial Business Combination within the Combination Period or (y) any
other material provisions relating to shareholders’ rights or pre-initial Business Combination activity.

Results of Operations 

We have neither engaged in any operations nor generated
any revenues to date. Our only activities since February 10, 2025 (inception) through June 30, 2025 have been (i) organizational activities
and (ii) activities relating to (x) the Initial Public Offering and (y) identifying and evaluating prospective acquisition candidates
and activities in connection with the initial Business Combination. Following the initial public offering, we will not generate any operating
revenues until after completion of our initial Business Combination. We will generate non-operating income in the form of interest income
on cash and cash equivalents after the initial public offering. We expect to incur increased expenses as a result of being a public company
(for legal, financial reporting, accounting and auditing compliance, among others), as well as for due diligence expenses.

For the three months ended June 30, 2025, the
Company had net income of $245,414 consisting of $321,137 of dividend income on marketable securities held in the Trust Account and $709
of interest income generated on cash in the operating bank account, offset by $53,824 of formation, general, and administrative expenses,
$16,782 of legal and accounting expenses, $2,333 of administrative services fee, and $3,493 of insurance expense.

For the period from February 10, 2025