Company: BACC
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001185185-25-000948
Chunk: 109

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 2
Chunk 109
---
 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 June 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 June 30, 2025, the
Company had net income of $245,414 consisting of $321,137 of dividend income on marketable securities held in the Trust Account and $709
of interest income generated on cash in the operating bank account, offset by $53,824 of formation, general, and administrative expenses,
$16,782 of legal and accounting expenses, $2,333 of administrative services fee, and $3,493 of insurance expense.

For the period from February 10, 2025 (inception)
through June 30, 2025, the Company had net income of $183,628 consisting of $321,137 of dividend income on marketable securities held
in the Trust Account and $739 of interest income generated on cash in the operating bank account, offset by $115,640 of formation, general,
and administrative expenses, $16,782 of legal and accounting expenses, $2,333 of administrative services fee, and $3,493 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