Company: BACC
Filing Date: 2025-06-11
Form Type: S-1/A
Source: 0001185185-25-000607
Chunk: 361

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-06-11
Form: S-1/A
Chunk 361
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 B Ordinary Shares— The
Company is authorized to issue a total of 50,000,000 Class B ordinary shares at par value of $0.0001 each. On February 20, 2025,
the Sponsor made a capital contribution of $25,000, or approximately $0.004 per share, through payments of offering costs and expenses
on the Company’s behalf, for which the Company issued 6,059,925 Class B ordinary shares, known as founder shares, to the Sponsor.
In May 2025, the Company effected a share capitalization pursuant to which the Company issued an additional 1,009,988 founder shares
resulting in an aggregate of 7,069,913 founder shares outstanding to the Sponsor, resulting in a price per share of approximately $0.004
per share. Up to 922,163 of the founder shares may be surrendered by the Sponsor for no consideration depending on the extent to which
the underwriters’ over-allotment is exercised. All share and per-share amounts have been retroactively restated to reflect the
share capitalization. As of February 28, 2025, there were 7,069,913 Class B ordinary shares issued and outstanding. The founder shares
include an aggregate of up to 922,163 shares subject to forfeiture if the over-allotment option is not exercised by the underwriters
in full.

<div align='center'>F-14

BLUE ACQUISITION CORP.
NOTES TO FINANCIAL STATEMENTS</div>

Note 8 — Shareholder’s Equity(cont.)

The founder shares will automatically convert into Class A ordinary shares in connection with the consummation of the initial Business Combination or earlier at the option of the holder on a one-for-one basis, subject to adjustment for share sub-divisions, share capitalizations, reorganizations, recapitalizations and the like. In the case that additional Class A ordinary shares, or any other equity-linked securities, are issued or deemed issued in excess of the amounts sold in the Proposed Public Offering and related to or in connection with the closing of the initial Business Combination, the ratio at which Class B ordinary shares convert into Class A ordinary shares will be adjusted (unless the holders of a majority of the outstanding Class B ordinary shares agree to waive such adjustment with respect to any such issuance or deemed issuance) so that the number of Class A ordinary shares issuable upon conversion of all Class B ordinary shares will equal, in the aggregate, 26% of the