Company: BACC
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001185185-25-000892
Chunk: 52

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 8
Chunk 52
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 held in the Trust Account (less income taxes payable), divided by the number of then
outstanding public shares, subject to the limitations. The amount in the Trust Account is initially anticipated to be $10.00 per public
share.

The ordinary shares subject to redemption will
be recorded at a redemption value and classified as temporary equity upon the completion of the Initial Public Offering, in accordance
with Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) Topic 480
“Distinguishing Liabilities from Equity.”

The
Company will have only the duration of the Completion Window to complete the initial Business Combination. However, if the Company is
unable to complete its initial Business Combination within the Completion Window, the Company will as promptly as reasonably possible
but not more than ten business days thereafter, redeem the public shares, at a per-share price, payable in cash, equal to the
aggregate amount then on deposit in the Trust Account, including interest earned on the funds held in the Trust Account (less income
taxes payable and up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding public shares, which
redemption will constitute full and complete payment for the public shares and completely extinguish public shareholders’ rights
as shareholders (including the right to receive further liquidation or other distributions, if any), subject to the Company’s obligations
under Cayman Islands law to provide for claims of creditors and subject to the other requirements of applicable law.

The Sponsor, officers and directors intend to
enter into a letter agreement with the Company, pursuant to which they will agreed to (i) waive their redemption rights with respect
to their founder shares and public shares in connection with the completion of the initial Business Combination or an earlier redemption
in connection with the commencement of the procedures to consummate the initial Business Combination if the Company determines it is desirable
to facilitate the completion of the initial Business Combination; (ii) waive their redemption rights with respect to their founder
shares and public shares in connection with a shareholder vote to approve an amendment to the Company’s amended and restated memorandum
and articles of association; (iii) waive their rights to liquidating distributions from the Trust Account with respect to their founder
shares if the Company fails to complete the initial Business Combination within the Completion Window, although they will be entitled
to liquidating distributions from the Trust Account with respect to any public shares they hold if the Company fails to complete the