Company: BACC
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001185185-25-001689
Chunk: 81

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 8
Chunk 81
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 $201,250,000 of the proceeds from the Initial Public Offering and the Private Placement (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, acting
as trustee, with the remaining proceeds from the Private Placement going to the our 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
us to pay our taxes, if any, and up to $100,000 for dissolution expenses, the funds held in the Trust Account will not be released from
the Trust Account until the earliest of (i) the completion of the our initial Business Combination, (ii) the redemption of the Public
Shares if we are unable to complete our initial Business Combination within the Combination Period, subject to applicable law, or (iii)
the redemption of the Public Shares properly submitted in connection with a shareholder vote to amend the Amended and Restated Articles
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) through
September 30, 2025 have been (i) organizational activities and (ii) activities relating to (x) the Initial Public Offering and (y) identifying
and evaluating prospective acquisition candidates and activities in connection with the initial Business Combination. 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. 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.

For the three months ended September 30, 2025,
the Company had net income of $1,879,085 consisting of $2,106,133 of income earned on cash and marketable securities held in the Trust
Account and $12,350 of interest income generated on cash in the