Company: BACC
Filing Date: 2025-11-19
Form Type: 425
Source: 0001185185-25-001807
Chunk: 10

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-11-19
Form: 425
Chunk 10
---
 a Material Adverse Effect; (iv) Blockfusion, Pubco and Merger Subs (collectively,
the “Target Companies Parties”) having performed in all material respects all of their respective obligations
and complied in all material respects with all of their agreements and covenants under the Business Combination Agreement required to
be performed or complied with on or prior to the Closing Date; (v) absence of any Material Adverse Effect with respect to the Target Companies
since the date of the Business Combination Agreement; (vi) each Non-Competition Agreement, each Lock-Up Agreement, the Company Support
Agreement and the Amended Registration Rights Agreement being in full force and effect as of the Closing; (vii) the Preferred Conversion
having been completed; (viii) certain loans issued by the Company to its officers and directors having been repaid or cancelled; (ix)
Blue and Pubco having received employment agreements, in each case effective as of the Closing, in form and substance reasonable to Blue,
between certain employees and Pubco, and each such employment agreement duly executed by the parties thereto; and (x) Blockfusion shall
have delivered to Blue evidence that consents from certain specified lenders have been received.

<div align='center'>4</div>

Termination

The Business Combination Agreement
may be terminated at any time prior to the Closing by either Blue or Blockfusion if the Closing does not occur by May 31, 2026, or such
other date as may be extended pursuant to the Business Combination Agreement.

The Business Combination Agreement
may also be terminated under certain other customary and limited circumstances at any time prior the Closing, including, among other reasons:
(i) by mutual written consent of Blue and Blockfusion; (ii) by written notice by either Blue or Blockfusion to the other if a governmental
authority of competent jurisdiction shall have issued an order or taken any other action permanently restraining, enjoining or otherwise
prohibiting the Transactions, and such order or other action has become final and non-appealable; (iii) by Blockfusion for Blue’s
uncured material breach of the Business Combination Agreement, such that the related closing condition would not be met; (iv) by Blue
for Blockfusion’s uncured material breach of the Business Combination Agreement, such that the related closing condition would not
be met; (v) by Blue, if there shall have been a Material Adverse Effect on the Target Companies following the date of the Business Combination
Agreement which is