Company: BACC
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001185185-25-000948
Chunk: 7

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 1
Chunk 7
---
 intended to be temporary and for
the sole purpose of facilitating the intended Business Combination. To mitigate the risk that the Company might be deemed to be an investment
company for purposes of the Investment Company Act, which risk increases the longer that the Company holds investments in the Trust Account,
the Company may, at any time (based on management team’s ongoing assessment of all factors related to the potential status under
the Investment Company Act), instruct the trustee to liquidate the investments held in the Trust Account and instead to hold the funds
in the Trust Account in cash or in an interest bearing demand deposit account at a bank. Except with respect to interest earned on the
funds held in the Trust Account that may be released to the Company to pay its taxes, if any, the proceeds from the Initial Public Offering
and the sale of the Private Placement Units will not be released from the Trust Account until the earliest of (i) the completion of the
Company’s initial Business Combination, (ii) the redemption of the Company’s public shares if the Company is unable to complete
the initial Business Combination within 21 months from the closing of the Initial Public Offering or by such earlier liquidation date
as the Company’s board of directors may approve (the “Completion Window”), subject to applicable law, or (iii) the redemption
of the Company’s public shares properly submitted in connection with a shareholder vote to amend the Company’s amended and
restated memorandum and articles of association to (A) modify the substance or timing of the Company’s obligation to allow redemption
in connection with the initial Business Combination or to redeem 100% of the Company’s public shares if the Company has not consummated
an initial Business Combination within the Completion Window or (B) with respect to any other material provisions relating to shareholders’
rights or pre-initial Business Combination activity. The proceeds deposited in the Trust Account could become subject to the claims of
the Company’s creditors, if any, which could have priority over the claims of the Company’s public shareholders.

5

BLUE ACQUISITION CORP.
NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

JUNE 30, 2025

The Company will provide the Company’s public
shareholders with the opportunity to redeem all or a portion of their public shares upon the completion of the initial Business Combination
either (i) in connection with a general meeting called to approve the initial Business Combination or (ii) without a shareholder
vote by means of a tender