Company: BACC
Filing Date: 2025-11-19
Form Type: 425
Source: 0001185185-25-001807
Chunk: 3

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-11-19
Form: 425
Chunk 3
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 currently applicable to such Company
Options, provided that each Assumed Option will be exercisable for the number of Pubco Class A Shares equal to the Exchange Ratio (as
defined below) multiplied by the number of Company Class A Shares subject to the Company Option as of immediately prior to the Effective
Time, rounded down to the nearest whole number, at an exercise price equal to the per share exercise price of the Company Option divided
by the Exchange Ratio, rounded up to the nearest whole cent.

Additionally, at the Effective
Time, each outstanding and unexercised warrant to purchase Company Common Stock (each, a “Company Warrant”)
will be assumed by and become a warrant to purchase Pubco Class A Shares (each, an “Assumed Warrant”) containing
the same terms, conditions, vesting and other provisions as are currently applicable to such Company Warrants, provided that each Assumed
Warrant will be exercisable for the number of Pubco Class A Shares equal to the Exchange Ratio (as defined below) multiplied by the number
of Company Class A Shares subject to the Company Warrant as of immediately prior to the Effective Time, rounded up to the nearest whole
share, at an exercise price equal to the per share exercise price of the Company Warrant divided by the Exchange Ratio, rounded down to
the nearest whole cent.

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Consideration

The aggregate consideration
to be delivered to the security holders of Blockfusion as of the Effective Time (collectively, the “Company Security Holders”)
will be a number of newly issued shares of Pubco Common Stock equal to Four Hundred Fifty Million U.S. Dollars ($450,000,000) (the “Merger Consideration”), with each holder of Company Common Stock (each, a “Company Stockholder”) receiving
for each share of Company Common Stock held (after giving effect to the Preferred Conversion), a number of shares of Pubco Common Stock
equal to (i) the Per Share Price, divided by (ii) the Redemption Price (the “Exchange Ratio”), with holders
of Company Series B Shares receiving shares of Pubco Class B Shares and holders of Company Series A Shares receiving Pubco Class A Shares,
divided by the per share price at which each SPAC Public Share (as defined in the Business Combination Agreement) is redeemed in
the Redemption (as defined below) (the “Redemption Price”).

The “Per Share Price” is an amount equal to (a) the