Company: BACC
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001185185-25-000892
Chunk: 31

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 1
Chunk 31
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 generated on cash in the operating bank account.

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.

18

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 the Initial Public Offering, generating gross proceeds of $5,922,500.
Each Private Placement Unit consists of one Private Placement Share and Private Placement Right to receive one-tenth (1/10) of one
Class A Ordinary Share upon the consummation of an initial Business Combination.

Following the closing of the Initial Public Offering,
on June 16, 2025, an amount of $201,250,000 ($10.00 per Unit) from the net proceeds of the Initial Public Offering and the Private Placement,
was placed in the Trust Account, with Continental acting as trustee. The funds are initially held in cash, including demand deposit accounts
at a bank, or invested only in U.S. government treasury obligations with a maturity of 185 days or less or in money market funds meeting
certain conditions under Rule 2a-7 under the Investment Company Act, which invest only in direct U.S. government treasury obligations;
the holding of these assets in this form is intended to be temporary and for the sole purpose of facilitating the intended Business Combination.
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 Management’s ongoing assessment of all factors