Company: BACC
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001185185-25-000948
Chunk: 8

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 1
Chunk 8
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 offer. The decision as to whether the Company will seek shareholder approval of a proposed initial Business
Combination or conduct a tender offer will be made by the Company, solely in its discretion. The public shareholders will be entitled
to redeem their shares at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account calculated
as of two business days prior to the consummation of the initial Business Combination, including interest earned on the funds
held in the Trust (less income taxes payable (but without deduction for any excise or similar tax that may be due or payable)), divided
by the number of then outstanding Public Shares, subject to the limitations. The amount in the Trust Account is initially anticipated
to be $10.00 per Public Share. The ordinary shares subject to redemption will be recorded at redemption value and classified as temporary
equity upon the completion of the Initial Public Offering, in accordance with Financial Accounting Standards Board (“FASB”)
Accounting Standards Codification (“ASC”) Topic 480, “Distinguishing Liabilities from Equity.”

The
Company will have only the duration of the Completion Window to complete the initial Business Combination. However, if the Company is
unable to complete its initial Business Combination within the Completion Window, the Company will as promptly as reasonably possible
but not more than ten business days thereafter, redeem the public shares, at a per-share price, payable in cash, equal to the
aggregate amount then on deposit in the Trust Account, including interest earned on the funds held in the Trust Account (less income
taxes payable and up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding public shares, which
redemption will constitute full and complete payment for the public shares and completely extinguish public shareholders’ rights
as shareholders (including the right to receive further liquidation or other distributions, if any), subject to the Company’s obligations
under Cayman Islands law to provide for claims of creditors and subject to the other requirements of applicable law.

The Sponsor, officers and directors, and certain
advisor entered into a letter agreement with the Company, pursuant to which they agreed to (i) waive their redemption rights with
respect to their founder shares and public shares in connection with the completion of the initial Business Combination or an earlier
redemption in connection with the commencement of the procedures to consummate the initial Business Combination if the Company determines
it is desirable to facilitate the completion of