Company: BACC
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001185185-25-000948
Chunk: 19

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 1
Chunk 19
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 beginning after December 15, 2024, and for interim periods for fiscal years beginning after December
15, 2025, with early adoption permitted. The Company is currently assessing the impact, if any, that ASU 2023-09 would have on its financial
position, results of operations or cash flows.

Note 3 — Initial Public
Offering

Pursuant to the Initial Public Offering on June
16, 2025, the Company sold 20,125,000 Units at a purchase price of $10.00 per Unit, which includes the full exercise of the underwriters’
over-allotment option in the amount of 2,625,000 Units. Each Unit consists of one Class A ordinary share and one Public Right. Each ten
Public Rights entitle the holder thereof to receive one Class A ordinary share at the closing of an initial Business Combination. The
Company will not issue fractional Class A ordinary shares.

Note 4 — Private
Placement

Simultaneously with the closing of the Initial
Public Offering, the Sponsor, and the underwriters purchased an aggregate of 592,250 Private Placement Units, at a price of $10.00 per
Private Placement Unit for an aggregate purchase price of $5,922,500. Of the 592,250 Private Placement Units, the Sponsor purchased 391,000
Private Placement Units and the underwriters purchased 201,250 Private Placement Units. Each Private Placement Unit consists of one Class
A ordinary share and one Private Placement Right. A portion of the proceeds from the sale of the Private Placement Units was added to
the net proceeds from the Initial Public Offering held in the Trust Account. If the Company does not complete a Business Combination within
the Combination Period, the proceeds from the sale of the Private Placement Units held in the Trust Account will be used to fund the redemption
of the Public Shares (subject to the requirements of applicable law). The Private Placement Units (including the underlying ordinary shares
(“Private Placement Shares”) and Private Placement Rights) are identical to the Public Units (including the underlying Public
Shares and Public Rights) sold in the Initial Public Offering, subject to certain to certain limited exceptions.

Note 5 — Segment
Information

ASC
Topic 280, Segment Reporting, establishes standards for companies to report, in their financial statements, information about operating
segments, products, services, geographic areas, and major customers. Operating segments are defined as components of an enterprise that