Company: BACC
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001185185-25-000948
Chunk: 25

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 1
Chunk 25
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16, 2025, the underwriters fully exercised their over-allotment option.

The underwriters were paid a cash underwriting
discount of 2.00% of the gross proceeds of the Initial Public Offering, or 4,025,000 in the aggregate, payable upon the closing of the
Initial Public Offering. Additionally, the underwriters are entitled to a deferred underwriting discount of 3.5% of the gross proceeds
of the Initial Public Offering, $7,043,750 in the aggregate. The deferred commissions will be released to the underwriters only on completion
of an initial business combination. The deferred commissions will be payable as follows: (i) $0.20 per unit sold in the Initial Public
Offering shall be paid to the underwriter in cash, and (ii) $0.15 per unit sold in the Initial Public Offering shall be paid to the underwriters
in cash based on the funds remaining in the trust account after giving effect to public shares that are redeemed in connection with an
initial business combination.

Representative
Shares

The Company issued to the underwriters and/or
their designees 175,000 ordinary shares (the “Representative Shares”) upon the consummation of the Initial Public Offering.
The Company accounted for the Representative Shares as a cost of the Initial Public Offering, resulting in a charge directly to share’s
equity. The underwriters (and any of their designees to whom the Representative Shares are issued) agree not to transfer, assign or sell
any such shares without the Company’s prior consent until the completion of a Business Combination. In addition, the Representative
Shares are be deemed to be underwriting compensation by the Financial Industry Regulatory Authority, Inc. (“FINRA”) pursuant
to FINRA Rule 5110 and will, accordingly, be subject to certain transfer restrictions or a period of 180 days beginning on the
date of commencement of sales of the Units in the Initial Public Offering. Furthermore, the underwriters agree (and any of their
designees to whom the Representative Shares are issued agree) (i) to waive its redemption rights (or right to participate in any
tender offer) with respect to such shares in connection with the completion of the Company’s initial Business Combination and (ii) to
waive its rights to liquidating distributions from the Trust Account with respect to such shares if the Company fails to complete a Business
Combination within the Combination Period. In addition, the Representative Shares