Company: BPAC
Filing Date: 2025-10-22
Form Type: S-1/A
Source: 0001185185-25-001525
Chunk: 182

Company: Blueport Acquisition Ltd
Filing Date: 2025-10-22
Form: S-1/A
Chunk 182
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 (2) the date following the consummation of our initial business
combination on which we complete a liquidation, merger, share exchange or other similar transaction that results in all of our shareholders
having the right to exchange their shares for cash, securities or other property (the “Lock-Up”). Notwithstanding the foregoing,
the initial shares will be released from the Lock-Up if (1) the reported closing price of our ordinary shares equals or exceeds $12.00
per share (as adjusted for share splits, share capitalizations, reorganizations and recapitalizations) for any 20 trading days within
any 30-trading day period commencing at least 90 days after our initial business combination or (2) we complete a liquidation, merger,
share exchange or other similar transaction after our initial business combination that results in all of our shareholders having the
right to exchange their shares for cash, securities or other property. Additionally, our insiders have agreed not to transfer, assign
or sell any of private units (including the ordinary shares issuable upon exercise of the private units) until at least 30 days after
the completion of our initial business combination (except with respect to permitted transferees as described herein under “Principal
Shareholders”). Any permitted transferees will be subject to the same restrictions and other agreements of our initial shareholders
with respect to any initial shares and the private units, as applicable. However, if after our initial business combination, there is
a transaction whereby all the outstanding shares are exchanged or redeemed for cash (as would be the case in a post-asset sale liquidation)
or another issuer’s shares, then the initial shares or the private units (or any ordinary shares thereunder) shall be permitted
to participate.

Any permitted transferees will
be subject to the same restrictions and other agreements of our initial shareholders with respect to any initial shares and the private
units, as applicable. The permitted transferees shall mean (i) among the initial shareholders or to the initial shareholders’, or
our officers, directors or their respective affiliates (including for transfers to an entity’s members upon its liquidation), (ii)
to a holder’s shareholders or members upon the holder’s liquidation, in each case if the holder is an entity, (iii) by bona
fide gift to a member of the holder’s immediate family or to a trust, the beneficiary of which is the holder or a member of the
holder’s immediate family, in each case for estate planning purposes,