Company: BACC
Filing Date: 2025-06-02
Form Type: S-1/A
Source: 0001185185-25-000574
Chunk: 167

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-06-02
Form: S-1/A
Chunk 167
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           | 176,163,259 |   |

| (1) | Our                                                                                                                                   
 sponsor may loan us up to $300,000 under an unsecured promissory note to be used for a portion of the expenses of this offering. The  
 “as adjusted” information gives effect to the repayment of any loans received from our sponsor out of the proceeds from this          
 offering and the sale of the private placement units. As of February 28, 2025, we had borrowed $26,089 under the promissory note with 
 our sponsor.                                                                                                                          |

| (2) | Upon                                                                                                                                        
 the completion of our initial business combination, we will provide our public shareholders with the opportunity to redeem their public     
 shares, regardless of whether they abstain, vote for, or vote against, our initial business combination, for cash at a per share price      
 equal to the aggregate amount then on deposit in the trust account calculated as of two business days prior to the consummation             
 of our initial business combination, including interest earned on the funds held in the trust account (less income taxes, if any, payable), 
 divided by the number of then outstanding public shares, subject to any limitations (including, but not limited to, cash requirements)      
 created by the terms of the proposed business combination.                                                                                  |

| (3) | Actual                                                                                   
 share amount is prior to any forfeiture of founder shares and as adjusted amount assumes 
 no exercise of the underwriters’ over-allotment option and surrender of an aggregate     
 of 922,163 founder shares.                                                               |

<div align='center'>101

Management’s discussion and analysis of
financial condition and results of operations</div>

Overview

We are a blank check company incorporated on February 10, 2025 as a Cayman Islands exempted company and formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, which we refer to throughout this prospectus as our initial business combination. We have not selected any business combination target and we have not, nor has anyone on our behalf, initiated any substantive discussions, directly or indirectly, with any business combination target. We may pursue an initial business combination in any business or industry. We intend to effectuate our initial business combination using cash from the proceeds of this offering and the private placement of the private placement units, the proceeds of the sale of our shares in connection with our initial business combination (pursuant to