Company: BACC
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001185185-25-000892
Chunk: 8

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 1
Chunk 8
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ory note with the Sponsor. However, there is no assurance that the Company’s plans to raise
capital or to consummate a Business Combination will be successful within the Combination Period. The financial statements do not include
any adjustments that might result from the outcome of this uncertainty.

6

BLUE ACQUISITION CORP.
NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

MARCH 31, 2025

On
June 16, 2025, the Company consummated its Initial Public Offering of 20,125,000 Units, which includes 2,625,000 units issued pursuant
to the full exercise by the underwriters of their over-allotment option. The Units were sold at a price of $10.00 per Unit, generating
gross proceeds to the Company of $201,250,000 (see Note 9).

Simultaneously
with the closing of the Initial Public Offering, the Company completed the private sale of an aggregate of 592,250 Private Placement
Units to the Sponsor and the Underwriters at a price of $10.00 per Private Placement Unit for an aggregate purchase price of $5,922,500
(see Note 9).

A
total of $201,250,000 of the proceeds from the Initial Public Offering and the sale of the Private Placement Units was placed in a U.S.
based trust account maintained by Continental Stock Transfer & Trust Company, acting as trustee, with the remaining proceeds from
the Private Placement Units going to the Company’s working capital account (see Note 9).

Note 2 — Significant
Accounting Policies

Basis
of Presentation

The
accompanying financial statements are presented in conformity with accounting principles generally accepted in the United States
of America (“U.S. GAAP”) and pursuant to the rules and regulations of the United States Securities and Exchange Commission
(the “SEC”).

Emerging
Growth Company Status

The
Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart
our Business Startups Act of 2012, (the “JOBS Act”), and it may take advantage of certain exemptions from various
reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited
to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley