Company: BACC
Filing Date: 2025-05-14
Form Type: S-1
Source: 0001185185-25-000465
Chunk: 347

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-05-14
Form: S-1
Chunk 347
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is exercised in full), payable upon the closing of the Proposed Public Offering. Additionally, the underwriters will be entitled to a
deferred underwriting discount of 3.5% of the gross proceeds of the Proposed Public Offering, or $5,250,000 (or $6,037,500 if the overallotment
option is exercised in full) in the aggregate. The deferred commissions will be released to the underwriters only on completion of an
initial business combination. The deferred commissions will be payable as follows: (i) $0.20 per unit sold in this offering shall be paid
to the underwriter in cash, and (ii) $0.15 per unit sold in this 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.

Representative Shares

The Company intends to issue to the underwriters and/or
their designees 150,000 ordinary shares (the “Representative Shares”) upon the consummation of the Proposed Public Offering.
The Company will account for the Representative Shares as a cost of the Proposed 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 Proposed 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