Company: BACC
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001185185-25-000892
Chunk: 50

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 8
Chunk 50
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 consummation of an initial Business Combination. Of those 539,750
Private Placement Units, the Sponsor has agreed to purchase 364,750 Private Placement Units (391,000 units if the underwriters’
over-allotment option is exercised in full) and BTIG, LLC (“BTIG”) and Roberts & Ryan Inc. (“Roberts & Ryan”),
the underwriters, have agreed to purchase 175,000 Private Placement Units (or 201,250 Private Placement Units if the underwriters’
over-allotment option is exercised in full).

The
Business Combination must be with one or more target businesses that together have a fair market value equal to at least 80% of the net
balance in the Trust Account (as defined below) (excluding the amount of deferred underwriting discounts held and income taxes payable
on the income earned on the Trust Account) at the time of the signing an agreement to enter into a Business Combination. However, the
Company will only complete a Business Combination if the post-Business Combination company owns or acquires 50% or more of the outstanding
voting securities of the target or otherwise acquires a controlling interest in the target sufficient for it not to be required to register
as an investment company under the Investment Company Act of 1940, as amended (the “Investment Company Act”). There
is no assurance that the Company will be able to successfully effect a Business Combination.

Upon the closing of the Initial Public Offering,
management has agreed that an aggregate of $10.00 per Unit sold in the Initial Public Offering will be held in a Trust Account (the “Trust
Account”) and may only be invested 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 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