Company: BPAC
Filing Date: 2025-06-26
Form Type: S-1
Source: 0001185185-25-000701
Chunk: 121

Company: Blueport Acquisition Ltd
Filing Date: 2025-06-26
Form: S-1
Chunk 121
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 offering, as discussed above. Our plans to raise capital or to consummate our initial business combination may not be successful. These factors, among others, raise substantial doubt about our ability to continue as a going concern.

Our liquidity needs will be satisfied through the receipt of $25,000 from the sale of the initial shares and a promissory note with our sponsor with a principal amount of $300,000 that is more fully described below. Furthermore, we estimate that the net proceeds from (1) the sale of the units in this offering of $69,000,000 (or $79,350,000 if the over-allotment option is exercised in full), deducting offering expenses of approximately $704,000 (or 708,750 if the over-allotment option is exercised in full) and underwriting discounts and commissions of $1,035,000 (or $1,190,250 if the over-allotment option is exercised in full) (not including the deferred underwriting discounts and commissions) and (2) the sale of the private units for a purchase price of up to $10.00 will be $2,990,000 (or $3,150,000 if the over-allotment option is exercised in full) (including the deferred underwriting discounts and commissions). Of this amount, $69,000,000 (or $79,350,000 if the over-allotment option is exercised in full) will be held in the trust account. The remaining $1,251,000 (whether or not the over-allotment option is exercised in full) will not be held in the trust account.

We intend to use substantially all of the net proceeds of this offering, including the funds held in the trust account, to acquire a target business or businesses and to pay our expenses relating thereto, including underwriting discounts and commissions payable to the underwriters in an amount of 1.5% of the total gross proceeds raised in the offering upon consummation of our initial business combination. To the extent that our share capital is used in whole or in part as consideration to effect our initial business combination, the remaining proceeds held in the trust account, as well as any other net proceeds not expended, will be used as working capital to finance the operations of the target business. Such working capital funds could be used in a variety of ways including continuing or expanding the target business’ operations, for strategic acquisitions and for marketing, research and development of existing or new products. Such funds