Company: BACC
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001185185-25-001689
Chunk: 35

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 35
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 being a public company (for legal, financial reporting, accounting and auditing compliance, among others),
as well as for due diligence expenses.

For the three months ended September 30, 2025,
the Company had net income of $1,879,085 consisting of $2,106,133 of income earned on cash and marketable securities held in the Trust
Account and $12,350 of interest income generated on cash in the operating bank account, offset by $79,150 of formation, general, and administrative
expenses, $98,956 of legal and accounting expenses, $15,500 of administrative services fee, $26,888 of listing fees, and $18,904 of insurance
expense.

For the period from February 10, 2025 (inception)
through September 30, 2025, the Company had net income of $2,062,713 consisting of $2,427,270 of income earned on cash and marketable
securities held in the Trust Account and $13,089 of interest income generated on cash in the operating bank account, offset by $194,790
of formation, general, and administrative expenses, $115,738 of legal and accounting expenses, $17,833 of administrative services fee,
$26,888 of listing fees, and $22,397 of insurance expense.

Liquidity
and Capital Resources

Our
liquidity needs have been satisfied prior to the completion of the Initial Public Offering through $25,000 paid by the Sponsor to cover
certain of our offering and formation costs in exchange for the issuance of the Founder Shares to our Sponsor and $300,000 in loans from
our Sponsor.

On
June 16, 2025, the Company consummated the Initial Public Offering of 20,125,000 Units, which includes the full exercise by the underwriters
of their over-allotment option in the amount of 2,625,000 Option Units, at $10.00 per Unit, generating gross proceeds of $201,250,000.
Each Unit consists of one Public Share and one Public Right to receive one-tenth (1/10) of one Class A Ordinary Share upon the consummation
of the initial Business Combination.

19

Simultaneously
with the closing of the Initial Public Offering, the Company consummated the private placement of 592,250 Private Placement Units at
a price of $10.00 per Private Placement Unit, to the Sponsor and the underwriters in