Company: BPAC
Filing Date: 2025-10-22
Form Type: S-1/A
Source: 0001185185-25-001525
Chunk: 124

Company: Blueport Acquisition Ltd
Filing Date: 2025-10-22
Form: S-1/A
Chunk 124
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 accrued prior to the closing of our initial public offering.

If needed to finance transaction
costs in connection with searching for a target business or consummating an intended initial business combination, our initial shareholders,
officers, directors or their affiliates may, but are not obligated to, loan us funds as may be required. In the event that the initial
business combination does not close, we may use a portion of the working capital held outside the trust account to repay such loaned amounts,
but no proceeds from our trust account would be used for such repayment. Such loans would be evidenced by promissory notes. The notes
would either be paid upon consummation of our initial business combination, without interest, or, at the lender’s discretion, up
to $1,500,000 of the working capital loans may be converted upon consummation of our business combination into private units at a price
of $10.00 per unit. We believe the purchase price of these units will approximate the fair value of such units when issued. However, if
it is determined, at the time of issuance, that the fair value of such units exceeds the purchase price, we would record compensation
expense for the excess of the fair value of the units on the day of issuance over the purchase price in accordance with Accounting Standards
Codification (“ASC”) 718 Compensation - Stock Compensation.

Controls and Procedures

We are not currently required
to certify the effectiveness of our internal controls as defined by Section 404 of the Sarbanes-Oxley Act. We will be required to comply
with the internal control requirements of the Sarbanes-Oxley Act for the fiscal year ending December 31, 2026. Only in the event that
we are deemed to be a large accelerated filer or an accelerated filer and no longer qualify as an emerging growth company will we be
required to comply with the independent registered public accounting firm attestation requirement on internal control over financial
reporting. Further, for as long as we remain an emerging growth company as defined in the JOBS Act, we intend to take advantage of certain
exemptions from various reporting requirements, including, but not limited to, not being required to comply with the independent registered
public accounting firm attestation requirement.

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As of the date of this prospectus,
we have not completed an assessment, nor have our auditors tested our systems, of internal controls. We expect to assess the internal
controls of our target