Company: BACC
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001185185-25-000948
Chunk: 36

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 1
Chunk 36
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, 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
Combination activity. The proceeds deposited in the Trust Account could become subject to the claims of our creditors, if any, which could
have priority over the claims of our Public Shareholders.

We intend to use substantially all of the funds
held in the Trust Account, including any amounts representing interest earned on the Trust Account (excluding deferred underwriting commissions).
We may withdraw interest to pay our income taxes, if any. Our annual income tax obligations will depend on the amount of interest and
other income earned on the amounts held in the Trust Account. We expect the interest earned on the amount in the Trust Account will be
sufficient to pay our income taxes. To the extent that our equity or debt is used, in whole or in part, as consideration to complete our
initial Business Combination, the remaining proceeds held in the Trust Account will be used as working capital to finance the operations
of the target business or businesses, make other acquisitions and pursue our growth strategies.

As of June 30, 2025, we had $1,235,432 of cash
held outside the Trust Account (assuming our offering expenses are as expected). We will use these funds to primarily identify and evaluate
target businesses, perform business due diligence on prospective target businesses, travel