Company: BACC
Filing Date: 2025-05-14
Form Type: S-1
Source: 0001185185-25-000465
Chunk: 6

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-05-14
Form: S-1
Chunk 6
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 our public shareholders will
incur an immediate and substantial dilution upon the closing of this offering. Further, the Class A ordinary shares issuable in connection
with the conversion of the Class B ordinary shares may result in material dilution to our public shareholders due to the anti-dilution
rights of our Class B ordinary shares that may result in an issuance of Class A ordinary shares on a greater than one-to-one basis upon
conversion. In the case that additional Class A ordinary shares, or equity-linked securities (as described herein), are issued or deemed
issued in excess of the amounts issued in this offering and related to the closing of our initial business combination, the ratio at which
the Class B ordinary shares will convert into Class A ordinary shares will be adjusted (unless the holders of a majority of the issued
and outstanding Class B ordinary shares agree to waive such anti-dilution adjustment with respect to any such issuance or deemed issuance)
so that the number of Class A ordinary shares issuable upon conversion of all Class B ordinary shares will equal, in the aggregate, 26%
of the sum of (i) all ordinary shares issued and outstanding upon the completion of this offering (including any Class A ordinary shares
issued pursuant to the underwriters’ over-allotment option and excluding the securities underlying the private placement units issued
to the sponsor), (ii) plus all Class A ordinary shares and equity-linked securities issued or deemed issued in connection with our initial
business combination (excluding any shares or equity-linked securities issued, or to be issued, to any seller in the initial business
combination and any private placement-equivalent units issued to our sponsor, BHM (as defined below), certain of our officers or directors,
or any of their respective affiliates upon conversion of working capital loans and (iii) minus any redemptions of Class A ordinary shares
by public shareholders in connection with an initial business combination; provided that such conversion of founder shares will never
occur on a less than one-for-one basis. Prior to the closing of our initial business combination, only holders of our Class B ordinary
shares (a) will have the right to vote to appoint and remove directors prior to or in connection with the completion of our initial
business combination and (b) will be entitled to vote on continuing our company in a jurisdiction outside the Cayman Islands (including
any special resolution required to adopt new constitutional documents as a result of our approving a transfer by way of continuation in
a jurisdiction outside the Cayman Islands). On any other