Company: BPAC
Filing Date: 2025-04-09
Form Type: DRS
Source: 0001185185-25-000273
Chunk: 33

Company: Blueport Acquisition Ltd
Filing Date: 2025-04-09
Form: DRS
Chunk 33
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 At Custodian) System, at the holder’s option, at any time at or prior                
 to the vote on the business combination. There is a nominal cost associated with this tendering process and the act of certificating     
 the shares or delivering them through the DWAC System. The transfer agent will typically charge the tendering broker $45 and it would    
 be up to the broker whether or not to pass this cost on to the converting holder. The foregoing is different from the procedures         
 used by traditional blank check companies. In order to perfect redemption rights in connection with their business combinations,         
 many traditional blank check companies would distribute proxy materials for the shareholders’ vote on an initial business combination,   
 and a holder could simply vote against a proposed business combination and check a box on the proxy card indicating such holder was      
 seeking to exercise its redemption rights. After the business combination was approved, the company would contact such shareholder       
 to arrange for it to deliver its certificate to verify ownership. As a result, the shareholder then had an “option window”               
 after the consummation of the business combination during which it could monitor the price of the company’s stock in the market.         
 If the price rose above the conversion price, it could sell its shares in the open market before actually delivering his shares to       
 the company for cancellation. As a result, the redemption rights, to which shareholders were aware they needed to commit before the      
 shareholder meeting, would become an “option” right surviving past the consummation of the business combination until                    
 the converting holder delivered its certificate. The requirement for physical or electronic delivery prior to the closing of the         
 shareholder meeting ensures that a holder’s election to convert is irrevocable once the business combination is completed.               |
|                   |     | Pursuant to our post-offering amended and                                                                                                
 restated memorandum and articles of association that will become effective immediately prior to the completion of this offering,         
 we are required to give a minimum of only five days’ notice for each general meeting. As a result, if we require public shareholders     
 who wish to convert their ordinary shares into the right to receive a pro rata portion of the funds in the trust account to comply       
 with the foregoing delivery requirements, holders may not have sufficient time to receive the notice and deliver their shares for        
 conversion. Accordingly, investors may not be able to exercise their redemption rights and may be forced to retain our securities        
 when they otherwise would not want to.                                                                                                   |

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