Company: BACC
Filing Date: 2025-06-02
Form Type: S-1/A
Source: 0001185185-25-000574
Chunk: 7

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-06-02
Form: S-1/A
Chunk 7
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 of our initial business combination, the ratio at which the Class B ordinary shares will convert into Class
A ordinary shares will be adjusted (unless the holders of a majority of the issued and outstanding Class B ordinary shares agree to waive
such anti-dilution adjustment with respect to any such issuance or deemed issuance) so that the number of Class A ordinary shares issuable
upon conversion of all Class B ordinary shares will equal, in the aggregate, 26% of the sum of (i) all ordinary shares issued and outstanding
upon the completion of this offering (including any Class A ordinary shares issued pursuant to the underwriters’ over-allotment
option and excluding the securities underlying the private placement units issued to the sponsor), (ii) plus all Class A ordinary shares
and equity-linked securities issued or deemed issued in connection with our initial business combination (excluding any shares or equity-linked
securities issued, or to be issued, to any seller in the initial business combination and any private placement-equivalent units issued
to our sponsor, BHM (as defined below), certain of our officers or directors, or any of their respective affiliates upon conversion of
working capital loans and (iii) minus any redemptions of Class A ordinary shares by public shareholders in connection with an initial
business combination; provided that such conversion of founder shares will never occur on a less than one-for-one basis. Furthermore,
if we raise additional funds through equity or convertible debt issuances, our public shareholders may suffer significant dilution. This
dilution would increase to the extent that the anti-dilution provision of the founder shares result in the issuance of Class A
ordinary shares on a greater than one-for-one basis upon conversion of the founder shares at the time of our initial business combination.

Prior to the closing of our initial business combination,
only holders of our Class B ordinary shares (a) will have the right to vote to appoint and remove directors prior to or in connection
with the completion of our initial business combination and (b) will be entitled to vote on continuing our company in a jurisdiction
outside the Cayman Islands (including any special resolution required to adopt new constitutional documents as a result of our approving
a transfer by way of continuation in a jurisdiction outside the Cayman Islands). On any other matters submitted to a vote of our shareholders
prior to or in connection with the completion of our initial business combination, holders of the Class B ordinary shares and holders
of the Class A ordinary shares will vote together as a single class, except as