Company: BACC
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001185185-25-000948
Chunk: 10

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 1
Chunk 10
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, the Company had $1,235,432 cash
and working capital of $1,269,573. The Company’s liquidity needs through June 30, 2025 had been satisfied through a payment from
the Sponsor of $25,000 for Class B ordinary shares, par value $0.0001 per share (“founder shares”) (see Note 6), the Initial
Public Offering and the issuance of the Private Placement Units. Additionally, the Company drew on an unsecured promissory note to pay
certain offering costs, which was paid in full in connection with the consummation of the Company’s Initial Public Offering on July
16, 2025.

The Company has incurred and expects to continue
to incur significant costs in pursuit of its financing and acquisition plans. The Company lacks the financial resources it needs to sustain
operations for a reasonable period of time, which is considered to be one year from the issuance date of the financial statement. Although
no formal agreement exists, the Sponsor, certain directors and officers, or any of their respective affiliates may, bat are not obligated
to, to extend Working Capital Loans as needed (defined in Note 6). The Company cannot assure that its plans to consummate an initial Business
Combination will be successful.

These factors, among others, raise substantial
doubt about the Company’s ability to continue as a going concern one year from the date this financial statement is issued. This
financial statement does not include any adjustments that might result from the outcome of this uncertainty.

6

BLUE ACQUISITION CORP.
NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

JUNE 30, 2025

Note 2 — Significant
Accounting Policies

Basis
of Presentation

The
accompanying financial statements are presented in conformity with accounting principles generally accepted in the United States
of America (“U.S. GAAP”) and pursuant to the rules and regulations of the United States Securities and Exchange Commission
(the “SEC”).

Emerging
Growth Company Status

The
Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart
our Business Startups Act of 2012, (the “JOBS Act”), and it may take advantage of certain exemptions from various
reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited