Company: BACC
Filing Date: 2025-06-11
Form Type: S-1/A
Source: 0001185185-25-000607
Chunk: 179

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-06-11
Form: S-1/A
Chunk 179
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ated its initial public offering of 34,500,000 units, generating gross proceeds of $345,000,000. A total of $345,000,000
of the net proceeds from the initial public offering and the simultaneous private placement of private placement warrants (substantially
the same as the warrants sold in the initial public offering) were placed in a trust account established for the benefit of RAC II’s
public stockholders. RAC II’s units (and the Class A ordinary shares and warrants included in the units) were listed on the New
York Stock Exchange (“NYSE”) until April 3, 2024, when they were delisted for failure to complete an initial business combination
within three years after its initial business combination. On June 2, 2025, BPGC and Innovative Rocket Technologies Inc. (“iRocket”), a reusable space rocket developer, issued a joint press release announcing that they had entered into a non-binding letter of intent for a potential business combination.Under the terms of the letter of
intent, iRocket and BPGC would become a combined entity, with iRocket’s existing shareholders exchanging their shares in iRocket
for equity in the combined public company. The letter of intent contemplates a pre-money equity value of iRocket of $400 million, before
potential earnouts based on share price performance. The parties will announce additional details regarding the proposed business combination
when a definitive agreement is executed, which is expected to occur in the summer of this year, with a closing anticipated before year
end. No assurances can be made that the parties will successfully negotiate and enter into a definitive agreement, or that the proposed transaction will be consummated on the terms or timeframe currently contemplated, or at all. Any transaction would be subject to the completion of due diligence, the negotiation of a definitive agreement providing for the proposed business combination, satisfaction of the conditions negotiated therein, board and equity holder approval, regulatory approvals, and other customary conditions.

From September 16, 2024 to March 16, 2026 -- holders of 2,512,919Class A ordinary shares, approximately 22.25% of the shares entitled to vote on the extension, properly exercised their right to redeem their shares for cash at a redemption price of $11.49797361 per share, for an aggregate redemption amount of approximately $28,893,476.

Quinpario Acquisition Corp.

Mr. Qureshi was Vice President and Chief Strategy
Officer of Quinpar