Company: BACC
Filing Date: 2025-05-14
Form Type: S-1
Source: 0001185185-25-000465
Chunk: 257

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-05-14
Form: S-1
Chunk 257
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 sold as part of this offering, except as set forth elsewhere in this prospectus.

In order to finance transaction costs in connection with an intended initial business combination, our sponsor, BHM, certain of our officers or directors, or any of their respective affiliates may, but are not obligated to, loan us funds as may be required. Up to $1,500,000 of such working capital loans may be convertible into private placement units at a price of $10.00 per unit at the option of the lender. Such units and their underlying securities would be identical to the private placement units. The terms of such working capital loans, if any, by our sponsor, BHM, certain of our officers or directors, or any of their respective affiliates, have not been determined and no written agreements exist with respect to such loans.

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Ordinary Shares

Prior to the date of this prospectus, there were 6,059,925
Class B ordinary shares outstanding, all of which were held of record by our initial shareholders, so that our initial shareholders
will own 26% of our issued and outstanding shares after this offering (excluding the private placement shares and assuming our initial
shareholders do not purchase any units in this offering). Up to 790,425 of the founder shares will be surrendered for no consideration
depending on the extent to which the underwriters’ over-allotment is exercised. Upon the closing of this offering, 20,909,500 of
our ordinary shares will be outstanding (assuming no exercise of the underwriters’ over-allotment option and the corresponding surrender
for no consideration of 790,425 founder shares) comprising:

| ● | 15,000,000 Class A ordinary shares comprising part of units issued as part of this offering; |

| ● | 490,000 Class A ordinary shares comprising part of the units sold as part of the private placement; |

| ● | 150,000 representative shares; and |

| ● | 5,269,500 Class B ordinary shares held by our initial shareholders. |

If we increase or decrease the size of this offering, we will effect a share capitalization or share repurchase or redemption or other appropriate mechanism, as applicable, with respect to our Class B ordinary shares immediately prior to the consummation of the offering in such amount as to maintain the ownership of founder shares by our initial shareholders at 26% of our issued and outstanding ordinary shares upon the consummation of this offering (assuming