Company: BACC
Filing Date: 2025-06-11
Form Type: S-1/A
Source: 0001185185-25-000607
Chunk: 28

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-06-11
Form: S-1/A
Chunk 28
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H.
In connection with the closing, WLRH redeemed a total of 29,793,320 shares of its common stock, resulting in a total payment to redeeming
stockholders of $298,465,296. As part of the Nexeo Business Combination, WLRH paid the following consideration to the selling equityholders:
(i) $424.9 million in cash, which included the repayment of $774.6 million of Nexeo Holdings indebtedness that occurred immediately
following the consummation of the Nexeo Mergers and (ii) 27,673,604 shares of newly-issued WLRH common stock (the “Stock Consideration”),
subject to adjustment as set forth in the Nexeo Merger Agreement. Pursuant to the terms of the Nexeo Merger Agreement, the aggregate
stock ownership of the selling equityholders was capped at 35% of the value of the capital stock of WLRH. As a result of this cap,
and pursuant to the Nexeo Merger Agreement, the selling equityholders also received a right to future deferred payments in cash in lieu
of receiving 5,654,960 additional shares (the “Excess Shares”), where such deferred cash payments were to be in an amount
equal to WLRH’s prevailing stock price at the time that WLRH pays such deferred cash payments multiplied by the Excess Shares.
Additionally, the selling equityholders received from WLRS 3,554,240 of the 12,506,250 founder shares. In addition to the transactions
contemplated by the Nexeo Merger Agreement and in connection with the Nexeo Business Combination, all 22,400,000 of WLRH’s private
placement warrants issued to WLRS at the time of WLRH’s IPO were exchanged by WLRS for 2,240,000 shares of WLRH’s common
stock (“Exchange Shares”), reflecting an exchange ratio of 0.10 shares of common stock for each private placement warrant
(the “Private Placement Warrant Exchange”).

In addition, immediately prior to closing,
WLRH issued 23,492,306 shares of its common stock (the “Private Placement Shares”), at a purchase price of $10.00 per share
and an aggregate purchase price of $234.9 million, to certain investors, including WLRS (the “Private Placement Investors”),
pursuant to the terms of certain subscription agreements entered into with such Private Placement Investors. Pursuant to the Subscription