Company: BACC
Filing Date: 2025-06-02
Form Type: S-1/A
Source: 0001185185-25-000574
Chunk: 360

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-06-02
Form: S-1/A
Chunk 360
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. The Company adopted ASU 2023-07 on February 10, 2025, the date of its incorporation.

In December 2023, the FASB issued Accounting
Standards Update 2023-09, “Improvements to Income Tax Disclosures” (“ASU 2023-09”), which provides for additional
disclosures primarily related to the income tax rate reconciliations and income taxes paid. ASU 2023-09 requires entities to annually
disclose the income tax rate reconciliation using both amounts and percentages, considering several categories of reconciling items,
including state and local income taxes, foreign tax effects, tax credits and nontaxable or nondeductible items, among others. Disclosure
of the reconciling items is subject to a quantitative threshold and disaggregation by nature and jurisdiction. ASU 2023-09 also requires
entities to disclose net income taxes paid or received to federal, state and foreign jurisdictions, as well as by individual jurisdiction,
subject to a five percent quantitative threshold. ASU 2023-09 may be adopted on a prospective or retrospective basis and is effective
for fiscal years beginning after December 15, 2024, and for interim periods for fiscal years beginning after December 15, 2025, with
early adoption permitted. The Company is currently assessing the impact, if any, that ASU 2023-09 would have on its financial position,
results of operations or cash flows.

Note 3 — Proposed Public Offering

In the Proposed Public Offering, the Company will
offer for sale 17,500,000 Units, (or 20,125,000 Units if the underwriters’ over-allotment option is exercised in
full) at a purchase price of $10.00 per Unit. Each Unit that the Company is offering consists of one Class A ordinary share (“Public
Share”) and one right (“Public Right”) to receive one tenth (1/10) of a Class A ordinary share upon the consummation
of an initial Business Combination.

Note 4 — Private Placement

The Sponsor, BTIG and Roberts & Ryan have committed to purchase
an aggregate of 539,750 Private Placement Units (or 592,250 Private Placement Units if the underwriters’ over-allotment
option is exercised in full) at a price of $10.00 per Private Placement Unit in a private placement that will close simultaneously with
the Proposed Offering. Each Private Placement Unit consists of one Class A ordinary share