Company: BACC
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001185185-25-000892
Chunk: 66

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 8
Chunk 66
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 combination. The deferred commissions will be payable as follows: (i) $0.20 per unit sold in the Initial Public Offering
shall be paid to the underwriter in cash, and (ii) $0.15 per unit sold in the Initial Public Offering shall be paid to the underwriters
in cash based on the funds remaining in the trust account after giving effect to public shares that are redeemed in connection with an
initial business combination.

On
June 16, 2025, the underwriters exercised their over-allotment options in full, to purchase 2,625,000 Units in connection with the Initial
Public Offering and the underwriters were paid $4,025,000 cash underwriting discount (see Note 9).

Representative
Shares

The Company intends to issue to the underwriters
and/or their designees 175,000 ordinary shares (the “Representative Shares”) upon the consummation of the Initial Public Offering.
The Company will account for the Representative Shares as a cost of the Initial Public Offering, resulting in a charge directly to share’s
equity. The underwriters (and any of their designees to whom the Representative Shares are issued) will agree not to transfer, assign
or sell any such shares without the Company’s prior consent until the completion of a Business Combination. In addition, the Representative
Shares will be deemed to be underwriting compensation by the Financial Industry Regulatory Authority, Inc. (“FINRA”) pursuant
to FINRA Rule 5110 and will, accordingly, be subject to certain transfer restrictions or a period of 180 days beginning on the
date of commencement of sales of the Units in the Initial Public Offering. Furthermore, the underwriters will agree (and any of their
designees to whom the Representative Shares are issued will agree) (i) to waive its redemption rights (or right to participate in
any tender offer) with respect to such shares in connection with the completion of the Company’s initial Business Combination and
(ii) to waive its rights to liquidating distributions from the Trust Account with respect to such shares if the Company fails to
complete a Business Combination within the Combination Period. In addition, the Representative Shares will not be transferable, assignable
or saleable until 30 days after the completion of our initial business combination (except with respect to permitted transferees
as described herein under the section of the final prospectus entitled “Principal Shareholders — Restrictions
on Transfers of Founder Shares