Company: BACC
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001185185-25-001689
Chunk: 103

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 2
Chunk 103
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 we are unable to complete our initial Business Combination within the Combination Period, subject to applicable law, or (iii)
the redemption of the Public Shares properly submitted in connection with a shareholder vote to amend the Amended and Restated Articles
to modify (x) the substance or timing of its obligation to redeem 100% of the Public Shares if it has not consummated an initial Business
Combination within the Combination Period or (y) any other material provisions relating to shareholders’ rights or pre-initial
Business Combination activity.

Results
of Operations 

We
have neither engaged in any operations nor generated any revenues to date. Our only activities since February 10, 2025 (inception) through
September 30, 2025 have been (i) organizational activities and (ii) activities relating to (x) the Initial Public Offering and (y) identifying
and evaluating prospective acquisition candidates and activities in connection with the initial Business Combination. Following the initial
public offering, we will not generate any operating revenues until after completion of our initial Business Combination. We will generate
non-operating income in the form of interest income on cash and cash equivalents after the initial public offering. We expect to incur
increased expenses as a result of being a public company (for legal, financial reporting, accounting and auditing compliance, among others),
as well as for due diligence expenses.

For the three months ended September 30, 2025,
the Company had net income of $1,879,085 consisting of $2,106,133 of income earned on cash and marketable securities held in the Trust
Account and $12,350 of interest income generated on cash in the operating bank account, offset by $79,150 of formation, general, and administrative
expenses, $98,956 of legal and accounting expenses, $15,500 of administrative services fee, $26,888 of listing fees, and $18,904 of insurance
expense.

For the period from February 10, 2025 (inception)
through September 30, 2025, the Company had net income of $2,062,713 consisting of $2,427,270 of income earned on cash and marketable
securities held in the Trust Account and $13,089 of interest income generated on cash in the operating bank account, offset by $194,790
of formation, general, and administrative expenses, $115,738 of legal and accounting expenses, $17,833 of administrative services fee,
$26,