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

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 25
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 for the
Initial Public Offering. These holders will be entitled to make up to three demands and have piggyback registration rights. The Company
will bear the expenses incurred in connection with the filing of any such registration statements.

Underwriting
Agreement

The
Company granted the underwriters a 45-day option from the date of the Initial Public Offering to purchase an additional 2,625,000 units
to cover over-allotments, if any. On June 16, 2025, the underwriters fully exercised their over-allotment option.

The
underwriters were paid a cash underwriting discount of 2.00% of the gross proceeds of the Initial Public Offering, or 4,025,000 in the
aggregate, payable upon the closing of the Initial Public Offering. Additionally, the underwriters are entitled to a deferred underwriting
discount of 3.5% of the gross proceeds of the Initial Public Offering, $7,043,750 in the aggregate. The deferred commissions will be
released to the underwriters only on completion of an initial business combination. The deferred commissions will be payable as follows:
(i) $0.20 per unit sold in the Initial Public Offering shall be paid to the underwriter in cash, and (ii) $0.15 per unit sold in the
Initial Public Offering shall be paid to the underwriters in cash based on the funds remaining in the trust account after giving effect
to public shares that are redeemed in connection with an initial business combination.

Representative
Shares

The Company issued to the underwriters and/or their
designees 175,000 ordinary shares (the “Representative Shares”) upon the consummation of the Initial Public Offering. The
Company accounted for the Representative Shares as a cost of the Initial Public Offering, resulting in a charge directly to shareholders’
equity. The underwriters (and any of their designees to whom the Representative Shares are issued) agree not to transfer, assign or sell
any such shares without the Company’s prior consent until the completion of a Business Combination. In addition, the Representative
Shares are be deemed to be underwriting compensation by the Financial Industry Regulatory Authority, Inc. (“FINRA”) pursuant
to FINRA Rule 5110 and will, accordingly, be subject to certain transfer restrictions or a period of 180 days beginning on
the date of commencement of sales of the Units in the Initial Public Offering. Furthermore, the underwriters agree (and any of their