Company: BACC
Filing Date: 2025-06-11
Form Type: S-1/A
Source: 0001185185-25-000607
Chunk: 6

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-06-11
Form: S-1/A
Chunk 6
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additional 1,009,988 founder shares to our sponsor without the payment of additional consideration in a share capitalization as a matter
of Cayman Islands law as a result of an increase in the maximum number of units which may be sold in this offering to 20,125,000, to
maintain the percentage ownership of founder shares, on an as-converted basis, at 26% of our issued and outstanding ordinary shares upon
the consummation of this offering (excluding the private placement shares). Up to 922,163 founder shares will be surrendered to
us for no consideration after the closing of this offering depending on the extent to which the underwriters’ over-allotment option
is exercised. If we further increase or decrease the size of this offering pursuant to Rule 462(b) under the Securities Act,
we will effect a further share capitalization or a share repurchase or redemption or other appropriate mechanism, as applicable, with
respect to our Class B ordinary shares immediately prior to the consummation of the offering in such amount as to maintain the ownership
of founder shares by our initial shareholders, on an as-converted basis, at 26% of our issued and outstanding ordinary shares upon the
consummation of this offering (excluding the private placement shares). The Class B ordinary shares will automatically convert into
Class A ordinary shares at the time of our initial business combination, or at any time prior thereto at the option of the holder thereof,
on a one-for-one basis, subject to adjustment for share sub-divisions, share capitalizations, reorganizations, recapitalizations and
the like. Any conversion of Class B ordinary shares described herein will take effect as a compulsory redemption of Class B
ordinary shares and an issuance of Class A ordinary shares as a matter of Cayman Islands law. Because our sponsor acquired
the Class B ordinary shares at a nominal price, our public shareholders will incur an immediate and substantial dilution upon the closing
of this offering. Further, the Class A ordinary shares issuable in connection with the conversion of the Class B ordinary shares may
result in material dilution to our public shareholders due to the anti-dilution rights of our Class B ordinary shares that may result
in an issuance of Class A ordinary shares on a greater than one-to-one basis upon conversion. In the case that additional Class A ordinary
shares, or equity-linked securities (as described herein), are issued or deemed issued in excess of the amounts issued in this offering
and related to