Company: BACC
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001185185-25-000892
Chunk: 86

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 8
Chunk 86
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 Sales of Equity Securities and Use of Proceeds.

Unregistered Sales of Equity Securities

There
were no sales of unregistered securities during the quarterly period covered by the Report. However, simultaneously with the closing
of the Initial Public Offering and pursuant to the Private Placement Units Purchase Agreements, we completed the sale of an aggregate
of 592,250 Private Placement Units to the Sponsor, BTIG and Roberts & Ryan in the Private Placement at a purchase price of $10.00
per Private Placement Unit, generating gross proceeds to us of $5,922,500. Of those 592,250 Private Placement Units, the Sponsor purchased
391,000 Private Placement Units and BTIG and Roberts & Ryan purchased 201,250  Private Placement Units. Private Placement Units
(and underlying securities) are identical to the Public Units, except as otherwise disclosed in the IPO 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.

Use of Proceeds

There have been no offerings of registered securities
and therefore no planned use of proceeds from such offerings during the quarterly period covered by the Report. However, on June 16, 2025,
we consummated our Initial Public Offering of 20,125,000 Public Units, which included 2,625,000 Option Units issued pursuant to the full
exercise of the Over-Allotment Option. Each Public Unit consists of one Public Share and one Right. The Public Units were sold at a price
of $10.00 per Public Unit, generating gross proceeds to us of $201,250,000.

22

BTIG and Roberts & Ryan acted as book runners and representatives
of the underwriters. On June 16, 2025, simultaneously with the consummation of our Initial Public Offering, and pursuant to the Private
Placement Units Purchase Agreements, we completed the private sale of an aggregate of 592,250 Private Placement Units at a purchase price
of $10.00 per Private Placement Unit, to our Sponsor, BTIG and Roberts & Ryan generating gross proceeds of $5,922,500.

Following the closing of our Initial Public Offering,
a total of $201,250,000 comprised of proceeds from the Initial Public Offering (which amount includes up to $7,043,750 of the Deferred
Fee) and the Private Placement, was placed in