Company: BACC
Filing Date: 2025-06-11
Form Type: S-1/A
Source: 0001185185-25-000607
Chunk: 366

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-06-11
Form: S-1/A
Chunk 366
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 15. Recent Sales of Unregistered Securities.

On February 20, 2025, Blue Holdings Sponsor LLC,
our sponsor, paid $25,000, or approximately $0.004 per share, to cover certain of our offering costs in exchange for 6,059,925 Class B
ordinary shares. Such securities were issued in connection with our organization pursuant to the exemption from registration contained
in Section 4(a)(2) of the Securities Act. The number of founder shares outstanding was determined based on the expectation
that the total size of this offering would be a maximum of 17,250,000 units if the underwriters’ over-allotment option is
exercised in full and therefore that such founder shares would represent 26% of the outstanding shares after this offering (excluding
the private placement shares). An additional 1,009,988 Class B ordinary shares were subsequently issued to our sponsor in a share capitalization
as a result of an increase in the maximum number of units which may be sold in this offering to 20,125,000, assuming the underwriters’
exercise in full the over-allotment option. Up to 922,163 of these shares will be surrendered for no consideration depending on the
extent to which the underwriters’ over-allotment is exercised.

Our sponsor is an accredited investor (as defined in Rule 501 of Regulation D). Each of the equity holders in our sponsor is an accredited investor under Rule 501 of Regulation D. The sole business of our sponsor is to act as the company’s sponsor in connection with this offering.

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Our sponsor and BTIG and Roberts & Ryan, the underwriters, have
committed, pursuant to written agreements, to purchase from us an aggregate of 539,750 private placement units (or 592,250 private placement
units if the underwriters’ over-allotment option is exercised in full) at $10.00 per unit for an aggregate purchase price of $5,397,500
(or $5,922,500 if the underwriters’ over-allotment option is exercised in full) in a private placement that will close simultaneously
with the closing of this offering. Of those 539,500 private placement units, our sponsor has agreed to purchase 364,750 private placement
units (or 391,000 units if the underwriters’ over-allotment option is exercised in full) and BTIG and Roberts & Ryan have agreed