Company: BACC
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001185185-25-000948
Chunk: 105

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 2
Chunk 105
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Item 2.
Management’s Discussion and Analysis of Financial Condition and Results of Operations.

Cautionary Note Regarding Forward-Looking
Statements

All statements other than statements of historical
fact included in this Report including, without limitation, statements under this Item regarding our financial position, business strategy
and the plans and objectives of Management for future operations, are forward-looking statements. When used in this Report, words such
as “anticipate,” “believe,” “estimate,” “expect,” “intend” and similar expressions,
as they relate to us or our Management, identify forward-looking statements. Such forward-looking statements are based on the beliefs
of our Management, as well as assumptions made by, and information currently available to, our Management. Actual results could differ
materially from those contemplated by the forward-looking statements as a result of certain factors detailed in our filings with the SEC.
All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety
by this paragraph.

The following discussion and analysis of our financial condition and
results of operations should be read in conjunction with the unaudited condensed financial statements and the notes thereto included in
this Report under “Item 1. Financial Statements”.

Overview

We are a blank check company incorporated on February
10, 2025 as a Cayman Islands exempted company and formed for the purpose of effecting an initial Business Combination. We have not selected
any business combination target and we have not, nor has anyone on our behalf, initiated any substantive discussions, directly or indirectly,
with any business combination target. We may pursue an initial Business Combination in any business or industry. We intend to effectuate
our initial Business Combination using cash from the proceeds of the Initial Public Offering and the Private Placement, the proceeds of
the sale of our securities in connection with our initial Business Combination (pursuant to any forward purchase agreements or backstop
agreements we may enter into following the consummation of the Initial Public Offering or otherwise), shares issued to the owners of the
target, debt issued to bank or other lenders or the owners of the target, other securities issuances, or a combination of the foregoing.

The issuance of additional securities in connection
with a Business Combination to the owners of the target or other investors:

    ●
    may significantly dilute the equity interest of our shareholders, which dilution would increase if the anti-dilution provisions in the Class B Ordinary Shares resulted in the issuance of