Company: BACC
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001185185-25-001689
Chunk: 7

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 7
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,000 ($10.00 per Unit) from the net proceeds of the
sale of the Units and the Private Placement Units, was placed in the trust account (the “Trust Account”), with Continental
Stock Transfer & Trust Company acting as trustee. The funds are initially held in cash, including demand deposit accounts at a bank,
or invested only in U.S. government treasury obligations with a maturity of 185 days or less or in money market funds meeting certain
conditions under Rule 2a-7 under the Investment Company Act, which invest only in direct U.S. government treasury obligations; the holding
of these assets in this form is intended to be temporary and for the sole purpose of facilitating the intended Business Combination.
To mitigate the risk that the Company might be deemed to be an investment company for purposes of the Investment Company Act, which risk
increases the longer that the Company holds investments in the Trust Account, the Company may, at any time (based on management team’s
ongoing assessment of all factors related to the potential status under the Investment Company Act), instruct the trustee to liquidate
the investments held in the Trust Account and instead to hold the funds in the Trust Account in cash or in an interest bearing demand
deposit account at a bank. Except with respect to interest earned on the funds held in the Trust Account that may be released to the
Company to pay its taxes, if any, the proceeds from the Initial Public Offering and the sale of the Private Placement Units will not
be released from the Trust Account until the earliest of (i) the completion of the Company’s initial Business Combination, (ii)
the redemption of the Company’s public shares if the Company is unable to complete the initial Business Combination within 21 months
from the closing of the Initial Public Offering or by such earlier liquidation date as the Company’s board of directors may approve
(the “Completion Window”), subject to applicable law, or (iii) the redemption of the Company’s public shares properly
submitted in connection with a shareholder vote to amend the Company’s amended and restated memorandum and articles of association
to (A) modify the substance or timing of the Company’s obligation to allow redemption in connection with the initial Business Combination
or to redeem 100% of the Company’s public shares if the Company has not consummated an initial Business Combination within the
Completion Window or (B) with respect to any other material provisions relating to shareholders’ rights or pre-initial Business
Combination activity. The proceeds deposited in the Trust Account could become