Company: BACC
Filing Date: 2025-06-11
Form Type: S-1/A
Source: 0001185185-25-000607
Chunk: 187

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-06-11
Form: S-1/A
Chunk 187
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Because our sponsor acquired the founder shares at a nominal price
of $0.004 per share, our public shareholders will incur immediate and material dilution upon the closing of this offering. Further, the
Class A ordinary shares issuable in connection with the conversion of the founder shares may result in material dilution to our public
shareholders due to the anti-dilution rights of our founder shares that may result in an issuance of Class A ordinary shares
on a greater than one-for-one basis upon conversion. Additionally, our public shareholders may experience dilution from the conversion
of the 539,750 private placement rights into 53,975 Class A ordinary shares (or 592,250 private placement rights converting into 59,225
Class A ordinary shares if the underwriters’ over-allotment option is exercised in full) to be purchased in the private placement
simultaneously with the closing of this offering. Further, our public shareholders may experience material dilution if the $1,500,000
in working capital loans is fully advanced by the sponsor and the sponsor elects to convert the working capital loans into private placement
units at $10.00 per unit, resulting in the sponsor receiving an additional 150,000 private placement units. See the section titled “ Risk Factors — Risks Relating to our Securities — The nominal purchase price paid by our sponsor for the founder shares may result in significant dilution to the implied value of your public shares upon the consummation of our initial business combination,”and “Dilution.”

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The founder shares will automatically convert into Class A ordinary shares at the time of our initial business combination, or at any time prior thereto at the option of the holder thereof, on a one-for-one basis, subject to adjustment as provided herein. In the case that additional Class A ordinary shares, or equity-linked securities, are issued or deemed issued in excess of the amounts sold in this offering and related to the closing of our initial business combination, the ratio at which Class B ordinary shares shall 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 anti-dilution 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, on an as-converted basis, 26% of the total number of all ordinary shares outstanding upon completion