Company: BACC
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001185185-25-000892
Chunk: 87

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 8
Chunk 87
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 a U.S.-based trust account maintained by Continental, acting as trustee. The proceeds held
in the Trust Account may be invested by the trustee only in U.S. government securities with a maturity of 185 days or less or in
money market funds investing solely in U.S. government treasury obligations and meeting certain conditions under Rule 2a-7 under
the Investment Company Act. To mitigate the risk that we might be deemed to be an investment company for purposes of the Investment Company
Act, which risk increases the longer that we hold investments in the Trust Account, we may, at any time (based on the Management Team’s
ongoing assessment of all factors related to the potential status under the Investment Company Act), instruct the trustee to liquidate
the investments held in the Trust Account and instead to hold the funds in the Trust Account in cash or in an interest-bearing demand
deposit account at a bank.

The remaining proceeds from the Initial Public
Offering and the Private Placement are held outside the Trust Account. Such funds are being used primarily to enable us to identify a
target and to negotiate and consummate our initial Business Combination.

There has been no material change in the planned
use of the proceeds from our Initial Public Offering and the Private Placement as described in the IPO Registration Statement. The specific
investments in our Trust Account may change from time to time.

Purchases of Equity Securities by the Issuer
and Affiliated Purchasers

None.

Item 3.
Defaults Upon Senior Securities.

None.

Item 4.
Mine Safety Disclosures.

Not
applicable.

Item 5.
Other Information.

Trading Arrangements

During the quarterly period ended March 31, 2025,
none of our directors or officers (as defined in Rule 16a-1(f) promulgated under the Exchange Act) adopted or terminated any “Rule
10b5-1 trading arrangement” or any “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408(a) of
Regulation S-K.

Additional Information

None.

23

Item 6.
Exhibits.

The following exhibits are
filed as part of, or incorporated by reference into, this Report

    Exhibit No.
     
    Description
  
    10.1
     
    Promissory Note issued to the Sponsor, dated February 20, 2025. (1)
  
    10.2
     
    Securities Subscription Agreement, dated February