Company: BACC
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001185185-25-000892
Chunk: 71

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 8
Chunk 71
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 share capitalization.

On
June 16, 2025, the Company consummated its Initial Public Offering of 20,125,000 Units, which includes 2,625,000 units issued pursuant
to the full exercise by the underwriters of their over-allotment option. The Units were sold at a price of $10.00 per Unit, generating
gross proceeds to the Company of $201,250,000. Each Unit consists of one Class A Ordinary Share of the Company and one Public Right upon
the consummation of the Company’s initial business combination (each, a “Share Right”).

In
connection with the consummation of the Initial Public Offering, the Company issued, to the underwriters and/or their designees, 175,000
Representative Shares.

The
Company had borrowed $193,236 through June 16, 2025, the consummation of the Initial Public Offering, and repaid $203,557 to the Sponsor
to settle the balance on June 16, 2025. The overpayment of $10,321 was recorded as a related party receivable.

Simultaneously
with the closing of the Initial Public Offering, the Company completed the private sale of an aggregate of 592,250 Private Placement
Units to the Sponsor and the Underwriters at a price of $10.00 per Private Placement Unit for an aggregate purchase price of $5,922,500.
The Private Placement Units (and underlying securities) are identical to the Units sold in the IPO, except as otherwise disclosed in
the Registration Statement. No underwriting discounts or commissions were paid with respect to such sale. The issuance of the Private
Placement Units was made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended.

A
total of $201,250,000 of the proceeds from the Initial Public Offering and the sale of the Private Placement Units (which amount includes
up to $7,043,750 of the underwriters’ deferred underwriting commissions), was placed in a U.S.-based trust account maintained by
Continental Stock Transfer & Trust Company, acting as trustee, with the remaining proceeds from the Private Placement Units going
to the Company’s working capital account (a portion of which will be used to pay offering expenses). Except with respect to interest
earned on the funds in the trust account that may be released to the Company to pay its taxes and up to $100