Company: BACC
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001185185-25-000892
Chunk: 28

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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    immediate payment of all principal and accrued interest, if any, if the debt security is payable on demand;

    ●
    our
    inability to obtain necessary additional financing if the debt security contains covenants restricting our ability to obtain such
    financing while the debt security is outstanding;

    ●
    using
    a substantial portion of our cash flow to pay principal and interest on our debt, which will reduce the funds available for expenses,
    capital expenditures, acquisitions and other general corporate purposes;

    ●
    limitations
    on our flexibility in planning for and reacting to changes in our business and in the industry in which we operate;

    ●
    increased
    vulnerability to adverse changes in general economic, industry and competitive conditions and adverse changes in government regulation;
    and

    ●
    limitations
    on our ability to borrow additional amounts for expenses, capital expenditures, acquisitions, debt service requirements, execution
    of our strategy and other purposes and other disadvantages compared to our competitors who have less debt.

As indicated in the unaudited condensed financial
statements and the notes thereto included in this Report under “Item 1. Financial Statements”, at March 31, 2025, we had no
cash and deferred offering costs of $82,900. Further, we expect to incur significant costs in the pursuit of our initial Business Combination.
We cannot assure you that our plans to raise capital or to complete our initial Business Combination will be successful.

We may seek to extend the Combination Period consistent
with applicable laws, regulations and stock exchange rules by amending our Amended and Restated Articles. Any such amendment would require
the approval of our Public Shareholders, who will be provided the opportunity to redeem all or a portion of their Public Shares in connection
with the vote on such approval. Such redemptions will decrease the amount held in our Trust Account and our capitalization, and may affect
our ability to maintain our listing on Nasdaq. In addition, the Nasdaq Rules currently require SPACs (such as us) to complete their initial
Business Combination in accordance with the Nasdaq 36-Month Requirement. If we do not meet the Nasdaq 36-Month Requirement, our securities
will likely be subject to a suspension of trading and delisting from Nasdaq.

Recent Developments

The Sponsor deposited an aggregate of $249,950
into ours bank account, depositing $50,000 in April 2025, and $199,950 in May 2025