Company: BACC
Filing Date: 2025-03-26
Form Type: DRS
Source: 0001185185-25-000217
Chunk: 70

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-03-26
Form: DRS
Chunk 70
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 SPAC and the target company’s status as co-registrants on de-SPAC registration statements.

In addition, the SEC’s adopting release provided guidance describing circumstances in which a SPAC could become subject to regulation under the Investment Company Act, including its duration, asset composition, business purpose, and the activities of the SPAC and its management team in furtherance of such goals.

Compliance with the SPAC Rules and related guidance may increase the costs and the time needed to negotiate and complete an initial business combination and may constrain the circumstances under which we could complete an initial business combination.

If we are deemed to be an investment company under the Investment Company Act, we may be required to institute burdensome compliance requirements and our activities may be restricted, which may make it difficult for us to complete our initial business combination.

As described in the risk factor above entitled “ Changes in laws or regulations, or a failure to comply with any laws and regulations, may adversely affect our business, including our ability to negotiate and complete our initial business combination, and results of operations,” the SEC’s adopting release with respect to the SPAC Rules provided guidance describing the extent to which SPACs could become subject to regulation under the Investment Company Act and the regulations thereunder. Whether a SPAC is an investment company will be a question of facts and circumstances. If our facts and circumstances change over time, we will update our disclosure to reflect how those changes impact the risk that we may be considered to be operating as an unregistered investment company. We can give no assurance that a claim will not be made that we have been operating as an unregistered investment company.

If we are deemed to be an investment company under the Investment Company Act, we may have to change our operations, wind down our operations, or register as an investment company under the Investment Company Act. Our activities may be restricted, including:

| ● | restrictions                          
 on the nature of our investments; and |

| ● | restrictions                                                                                                            
 on the issuance of securities, each of which may make it difficult for us to complete our initial business combination. |

In addition, we may have imposed upon us burdensome requirements, including:

| ● | registration              
 as an investment company; |

| ● | adoption                                       
 of a specific form of corporate structure; and |

| ● | reporting,                                                                                 
 record keeping, voting, proxy and disclosure requirements and other rules and regulations. |

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In order not to be regulated as an investment company under the Investment Company Act, unless we