Company: BACC
Filing Date: 2025-06-11
Form Type: S-1/A
Source: 0001185185-25-000607
Chunk: 131

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-06-11
Form: S-1/A
Chunk 131
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 our securities;                                                                                                            |

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 limited amount of news and analyst coverage; and |

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 decreased ability to issue additional securities or obtain additional financing in the future. |

The National Securities Markets Improvement Act of 1996, which is a federal statute, prevents or preempts the states from regulating the sale of certain securities, which are referred to as “covered securities.” Because we expect that our units and eventually our Class A ordinary shares and Share Rights will be listed on Nasdaq, our units, Class A ordinary shares and Share Rights will qualify as covered securities under the statute. Although the states are preempted from regulating the sale of our securities, the federal statute does allow the states to investigate companies if there is a suspicion of fraud, and, if there is a finding of fraudulent activity, then the states can regulate or bar the sale of covered securities in a particular case. While we are not aware of a state having used these powers to prohibit or restrict the sale of securities issued by blank check companies, other than the State of Idaho, certain state securities regulators view blank check companies unfavorably and might use these powers, or threaten to use these powers, to hinder the sale of securities of blank check companies in their states. Further, if we were no longer listed on Nasdaq, our securities would not qualify as covered securities under the statute and we would be subject to regulation in each state in which we offer our securities.

Our initial shareholders paid an aggregate of $25,000, or approximately $0.004 per founder share and, accordingly, you will experience immediate and substantial dilution from the purchase of our Class A ordinary shares.

The difference between the public offering price
per share (allocating all of the unit purchase price to the Class A ordinary share and none to the Share Right included in the unit)
and the pro forma net tangible book value per share of our Class A ordinary shares after this offering constitutes the dilution
to you and the other investors in this offering. Our initial shareholders acquired the founder shares at a nominal price, significantly
contributing to this dilution. Upon closing of this offering, you and the other public shareholders will incur an immediate and substantial
dilution of approximately 105.92% (or $10.59 per share, assuming no exercise of the underwriters’ over-allotment option), the difference
between the pro forma net tangible book value per share after this offering of ($0.59) (assuming the maximum redemption) and the initial