Company: BACC
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001185185-25-001689
Chunk: 104

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 2
Chunk 104
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888 of listing fees, and $22,397 of insurance expense.

Liquidity
and Capital Resources

Our
liquidity needs have been satisfied prior to the completion of the Initial Public Offering through $25,000 paid by the Sponsor to cover
certain of our offering and formation costs in exchange for the issuance of the Founder Shares to our Sponsor and $300,000 in loans from
our Sponsor.

On
June 16, 2025, the Company consummated the Initial Public Offering of 20,125,000 Units, which includes the full exercise by the underwriters
of their over-allotment option in the amount of 2,625,000 Option Units, at $10.00 per Unit, generating gross proceeds of $201,250,000.
Each Unit consists of one Public Share and one Public Right to receive one-tenth (1/10) of one Class A Ordinary Share upon the consummation
of the initial Business Combination.

19

Simultaneously
with the closing of the Initial Public Offering, the Company consummated the private placement of 592,250 Private Placement Units at
a price of $10.00 per Private Placement Unit, to the Sponsor and the underwriters in the Initial Public Offering, generating gross proceeds
of $5,922,500. Each Private Placement Unit consists of one Private Placement Share and Private Placement Right to receive one-tenth (1/10)
of one Class A Ordinary Share upon the consummation of an initial Business Combination.

Following
the closing of the Initial Public Offering, on June 16, 2025, an amount of $201,250,000 ($10.00 per Unit) from the net proceeds of the
Initial Public Offering and the Private Placement, was placed in the Trust Account, with Continental acting as trustee. The funds are
initially held in cash, including demand deposit accounts at a bank, or invested only 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 we might be deemed to be an investment
company for purposes of the Investment Company Act, which risk increases the longer that we hold investments in the Trust Account, we
may