Company: BACC
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001185185-25-001689
Chunk: 30

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 30
---
    (Level
    2)

    (Level
    3)

    As of September 30, 2025

    Assets:

    Treasury Trust Funds held in Trust
    Account
     
    $
    203,677,270

    $
    —

    $
    —

The fair value of the Public Rights is $4,361,306,
or $0.23 per Public Rights as of June 16, 2025, the date of the consummation of the Initial Public Offering. The Public Rights have been
classified within shareholders’ equity and will not require remeasurement after issuance. The following table presents the quantitative
information regarding market assumptions used in the valuation of the Public Rights:

    June 16, 2025 
  
    Implied ordinary share price 
    $9.77 
  
    Probability of acquisition 
     60%
  
    Calculated value per Public Right 
    $0.23 

Note 10 — Subsequent
Events

The Company evaluated subsequent events and transactions
that occurred after September 30, 2025, the balance sheet date, through the date that the financial statements were issued. Based upon
this review, the Company did not identify any subsequent events that would have required adjustment or disclosure in the financial statements.

16

Item 2.
Management’s Discussion and Analysis of Financial Condition and Results of Operations.

Cautionary
Note Regarding Forward-Looking Statements

All statements other than statements of historical
fact included in this Report including, without limitation, statements under this Item regarding our financial position, possible Business
Combinations and the financing thereof, and related matters, and the plans and objectives of Management for future operations, are forward-looking
statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. When used in this Report, words
such as “may,” “should,” “could,” “would,” “anticipate,” “believe,”
“estimate,” “expect,” “intend” and similar expressions, as they relate to us or our Management, identify
forward-looking statements. We have based these forward-looking statements on our Management’s current expectations and projections
about future events, as well as assumptions made by, and information currently available to our Management. Actual results could differ
materially from those contemplated by the forward-looking statements as a result of certain factors detailed in our filings with the
SEC. All subsequent written or oral forward-looking