Company: BACC
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001185185-25-000892
Chunk: 99

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 2
Chunk 99
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 to modify (x) the substance or timing of its obligation
to redeem 100% of the Public Shares if it has not consummated an initial Business Combination within the Combination Period or (y) any
other material provisions relating to shareholders’ rights or pre-initial Business Combination activity.

Results of Operations 

We have neither engaged in any operations nor
generated any revenues to date. Our only activities since February 10, 2025 (inception) have been organizational activities and those
necessary to prepare for an initial public offering. Following the initial public offering, we will not generate any operating revenues
until after completion of our initial Business Combination. We will generate non-operating income in the form of interest income on cash
and cash equivalents after the initial public offering. There has been no significant change in our financial or trading position and
no material adverse change has occurred since the date of our audited financial statements. After the Initial Public Offering, we expect
to incur increased expenses as a result of being a public company (for legal, financial reporting, accounting and auditing compliance,
among others), as well as for due diligence expenses. We expect our expenses to increase substantially after the closing of the Initial
Public Offering.

For the period from February 10, 2025 (inception)
through March 31, 2025, the Company had a net loss of $61,786 consisting of $61,816 of formation, general, and administrative expenses,
offset by $30 of interest income 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 consum