Company: BACC
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001185185-25-000948
Chunk: 118

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 2
Chunk 118
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-2
of the Exchange Act, we are not required to include risk factors in this Report. For additional risks relating to our operations, other than as set forth below, see the section titled “Risk
Factors” contained in our IPO Registration Statement. Any of these factors could result in a significant or
material adverse effect on our results of operations or financial condition. Additional risks could arise that may also affect our ability
to consummate an initial Business Combination. We may disclose changes to such risk factors or disclose additional risk factors from time
to time in our future filings with the SEC.

We have identified a material weakness in
our internal control over financial reporting as of June 30, 2025. If we are unable to maintain an effective system of internal control
over financial reporting, we may not be able to accurately report our financial results in a timely manner, which may adversely affect
investor confidence in us and materially and adversely affect our business and operating results.

We have identified a material weakness in our
internal controls over financial reporting as of June 30, 2025 due to a lack of properly designed, implemented, and effectively operating
controls. A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting such that
there is a reasonable possibility that a material misstatement of our annual or interim financial statements will not be prevented, or
detected and corrected on a timely basis.

Effective internal controls are necessary for
us to provide reliable financial reports and prevent fraud. Measures to remediate material weaknesses may be time-consuming and costly
and there is no assurance that such initiatives will ultimately have the intended effects. If we are unable to maintain an effective system
of internal control over financial reporting, we may not be able to accurately report our financial results in a timely manner, which
may adversely affect investor confidence in us and materially and adversely affect our business and operating results. If
we identify any new material weaknesses in the future, any such newly identified material weakness could limit our ability to prevent
or detect a misstatement of our accounts or disclosures that could result in a material misstatement of our annual or interim financial
statements. In such case, we may be unable to maintain compliance with securities law requirements regarding timely filing of periodic
reports in addition to applicable stock exchange listing requirements, investors may lose confidence in our financial reporting and adversely
affect our business and operating results. We cannot assure you that the measures we have taken to date, or any measures we may take