Company: BACC
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001185185-25-000892
Chunk: 53

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 8
Chunk 53
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 initial
Business Combination within the Completion Window and to liquidating distributions from assets outside the trust account; and (iv) vote
any founder shares held by them and any public shares purchased during or after the Initial Public Offering (including in open market
and privately-negotiated transactions) in favor of the initial Business Combination.

The Sponsor has agreed that it will be liable
to the Company if and to the extent any claims by a third party for services rendered or products sold to the Company, or a prospective
target business with which the Company has entered into a written letter of intent, confidentiality or other similar agreement or Business
Combination agreement, reduce the amount of funds in the Trust Account to below the lesser of (i) $10.00 per public share and (ii) the
actual amount per public share held in the Trust Account as of the date of the liquidation of the Trust Account, if less than $10.00 per
share due to reductions in the value of the trust assets, less income taxes payable, provided that such liability will not apply to any
claims by a third party or prospective target business who executed a waiver of any and all rights to the monies held in the Trust Account
(whether or not such waiver is enforceable) nor will it apply to any claims under the Company’s indemnity of the underwriters of
the Initial Public Offering against certain liabilities, including liabilities under the Securities Act of 1933, as amended
(the “Securities Act”). However, the Company has not asked the Sponsor to reserve for such indemnification obligations, nor
has the Company independently verified whether the Sponsor has sufficient funds to satisfy its indemnity obligations and the Company believes
that the Sponsor’s only assets are securities of the Company. Therefore, the Company cannot assure that the Sponsor would be able
to satisfy those obligations.

Liquidity
and Capital Resources

As of March 31, 2025, the Company had $70,030
cash and working capital deficiency of $19,686. The Company has incurred and expects to continue to incur significant costs in pursuit
of its financing and acquisition plans. These conditions raise substantial doubt about the Company’s ability to continue as a going
concern one year from the issuance date of the financial statements. Management plans to address this uncertainty through an Initial Public
Offering and use of a $300,000 promissory note with the Sponsor. However, there is no assurance that the Company’s plans to raise
capital or