Company: BACC
Filing Date: 2025-05-14
Form Type: S-1
Source: 0001185185-25-000465
Chunk: 94

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-05-14
Form: S-1
Chunk 94
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 independent entity that commonly renders valuation opinions regarding the fairness to our company from a financial point of view of a business combination with one or more domestic or international businesses affiliated with our sponsor, officers, directors or existing holders, potential conflicts of interest still may exist and, as a result, the terms of the business combination may not be as advantageous to our public shareholders as they would be absent any conflicts of interest.

Since our sponsor, officers and directors, and any other holder of our founder shares, including any non-managing sponsor investors may lose their entire investment in us if our initial business combination is not completed (other than with respect to public shares they may acquire during or after this offering), a conflict of interest may arise in determining whether a particular business combination target is appropriate for our initial business combination.

On February 20, 2025, our sponsor paid $25,000, or approximately $0.004 per share, to cover certain of our offering costs in exchange for 6,059,925 founder shares.

Prior to the initial investment in the company
of $25,000 by the sponsor, the company had no assets, tangible or intangible. The purchase price of the founder shares was
determined by dividing the amount of cash contributed to the company by the number of founder shares issued. The number of founder
shares outstanding was determined based on the expectation that the total size of this offering would be a maximum of
17,250,000 units if the underwriters’ over-allotment option is exercised in full, and therefore that such founder shares
would represent 26% of the outstanding shares after this offering (excluding the private placement shares and assuming our initial
shareholders do not purchase any units in this offering). Our public shareholders may incur material dilution due to such
anti-dilution adjustments that result in the issuance of Class A ordinary shares on a greater than one-to-one basis upon conversion.
Up to 790,425 of the founder shares will be surrendered for no consideration depending on the extent to which the
underwriters’ over-allotment option is exercised. The founder shares will be worthless if we do not complete an initial
business combination, except to the extent they receive liquidating distributions from assets outside of the trust account. In
addition, our sponsor, and BTIG and Roberts & Ryan, the underwriters, have committed, pursuant to written agreements, to
purchase from us an aggregate of 490,000 private placement units (or 535,000 private placement units if the under