Company: BACC
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001185185-25-001689
Chunk: 108

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 2
Chunk 108
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 applicable securities laws, we would only complete such financing simultaneously with the
completion of our initial Business Combination. If we are unable to complete our initial Business Combination because we do not have
sufficient funds available to us, we will be forced to liquidate the Trust Account. In addition, following our initial Business Combination,
if cash on hand is insufficient, we may need to obtain additional financing in order to meet our obligations.

The Company has incurred and expects to continue
to incur significant costs in pursuit of its financing and acquisition plans. The Company lacks the financial resources it needs to sustain
operations for a reasonable period of time, which is considered to be one year from the issuance date of the financial statement. Although
no formal agreement exists, the Sponsor, certain directors and officers, or any of their respective affiliates may, bat are not obligated
to, to extend Working Capital Loans as needed. The Company cannot assure that its plans to consummate an initial Business Combination
will be successful.

These factors, among others, raise substantial
doubt about the Company’s ability to continue as a going concern one year from the date this financial statement is issued. This
financial statement does not include any adjustments that might result from the outcome of this uncertainty.

Contractual
Obligations

We
do not have any long-term debt, capital lease obligations, operating lease obligations or long-term liabilities as of September 30, 2025.
Pursuant to the Underwriting Agreement, the underwriters of our Initial Public Offering were entitled to a Deferred Fee of $0.35 per
Public Unit, or $7,043,750 in the aggregate, payable to the underwriters from the amounts held in the Trust Account solely in the event
that we complete a Business Combination, subject to the terms of the Underwriting Agreement.

Commencing on the effective date of the Initial
Public Offering, the Company entered into an agreement with the managing member of our Sponsor to pay an aggregate of $5,000 per month
for office space, utilities, and secretarial and administrative support, pursuant to the Administrative Services Agreement. These monthly
fees will cease upon the completion of the initial Business Combination or our liquidation. For the three months ended September 30, 2025
and for the period from February 10, 2025 (inception) through September 30, 2025, the Company recorded $15,500 and $17,833 to administrative
services fee – related party on the statement of operations,