Company: BACC
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001185185-25-001689
Chunk: 73

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 8
Chunk 73
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. In addition, the Representative Shares are not transferable, assignable or saleable until
30 days after the completion of our initial business combination (except with respect to permitted transferees as described herein
under the section of the final prospectus entitled “Principal Shareholders — Restrictions on Transfers of Founder
Shares and Private Placement Units”).

Note 8 — Shareholder’s
Deficit

Preference
Shares

The
Company is authorized to issue a total of 5,000,000 preference shares at par value of $0.0001 each. As of September 30, 2025, there were
no preferred shares issued or outstanding.

Class A
Ordinary Shares 

The
Company is authorized to issue a total of 500,000,000 Class A ordinary shares at par value of $0.0001 each. As of September 30,
2025 there were 767,250 Class A ordinary shares issued and outstanding, excluding 20,125,000 shares subject to possible redemption.

Class 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. All share and per-share amounts have been retroactively restated to reflect the share capitalization. As of September 30,
2025, there were 7,069,913 Class B ordinary shares issued and outstanding.

14

BLUE
ACQUISITION CORP.
NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

SEPTEMBER
30, 2025

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