Company: BACC
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001185185-25-001689
Chunk: 36

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 36
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 the Initial Public Offering, generating gross proceeds
of $5,922,500. Each Private Placement Unit consists of one Private Placement Share and Private Placement Right to receive one-tenth (1/10)
of one Class A Ordinary Share upon the consummation of an initial Business Combination.

Following
the closing of the Initial Public Offering, on June 16, 2025, an amount of $201,250,000 ($10.00 per Unit) from the net proceeds of the
Initial Public Offering and the Private Placement, was placed in the Trust Account, with Continental acting as trustee. The funds are
initially held in cash, including demand deposit accounts at a bank, or invested only in U.S. government treasury obligations with a
maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act, which
invest only in direct U.S. government treasury obligations; the holding of these assets in this form is intended to be temporary and
for the sole purpose of facilitating the intended Business Combination. To mitigate the risk that we might be deemed to be an investment
company for purposes of the Investment Company Act, which risk increases the longer that we hold investments in the Trust Account, we
may, at any time (based on Management’s ongoing assessment of all factors related to the potential status under the Investment
Company Act), instruct the trustee to liquidate the investments held in the Trust Account and instead to hold the funds in the Trust
Account in cash or in an interest-bearing demand deposit account at a bank. Except with respect to interest earned on the funds held
in the Trust Account that may be released to us to pay our taxes, if any, the proceeds from the Initial Public Offering and the Private
Placement will not be released from the Trust Account until the earliest of (i) the completion of our initial Business Combination, (ii)
the redemption of the Public Shares if we are unable to complete the initial Business Combination within the Combination Period, subject
to applicable law, or (iii) the redemption of the Public Shares properly submitted in connection with a shareholder vote to amend the
Amended and Restated Articles to modify (1) the substance or timing of our obligation to allow redemption in connection with the initial
Business Combination or to redeem 100% of the Public Shares if we have not consummated an initial Business Combination within the Combination
Period or (2) any other material provisions relating to shareholders’ rights or pre-initial Business