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| Cayman Islands                                                 |  | 98-1582905                           |
|----------------------------------------------------------------|--|--------------------------------------|
| (State or other jurisdiction of incorporation or organization) |  | (I.R.S. Employer Identification No.) |
|                                                                |  |                                      |
| 500 Fifth Avenue                                               |  |                                      |
| New York, NY                                                   |  | 10110                                |
| (Address of Principal Executive Offices)                       |  | (Zip Code)                           |
| Title of each class                                                                                                                                                                      |  | TradingSymbol(s) |  | Name of each exchangeon which registered               |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--|------------------|--|--------------------------------------------------------|
| Units, each consisting of one Class A ordinary share, one right and one-half of one redeemable warrant                                                                                   |  | BLEUU            |  | The Nasdaq Stock Market LLC                            |
| Class A ordinary shares, $0.0001 par value per share                                                                                                                                     |  | BLEU             |  | The Nasdaq Stock Market LLC                            |
| Rights to acquire one-sixteenth of one Class A ordinary shareRedeemable warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50 per share |  | BLEURBLEUW       |  | The Nasdaq Stock Market LLCThe Nasdaq Stock Market LLC |
| Large accelerated filer | ☐ | Accelerated filer         | ☐ |
|-------------------------|---------|---------------------------|---------|
| Non-accelerated filer   | ☒ | Smaller reporting company | ☒ |
|                         |    | Emerging growth company   | ☒ |

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|          | Page                                                                                                               |
|----------|--------------------------------------------------------------------------------------------------------------------|
|     |                                                                                                                    |
| PART I   | 1                                                                                                                  |
| Item 1   | Business                                                                                                           | 1 |
| Item 1A  | Risk Factors                                                                                                       | 20 |
| Item 1B  | Unresolved Staff Comments                                                                                          | 57 |
| Item 2   | Properties                                                                                                         | 57 |
| Item 3   | Legal Proceedings                                                                                                  | 57 |
| Item 4   | Mine Safety Disclosures                                                                                            | 57 |
| PART II  | 58                                                                                                                 |
| Item 5   | Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities | 58 |
| Item 6   | Selected Financial Data                                                                                            | 59 |
| Item 7   | Management’s Discussion and Analysis of Financial Condition and Results of Operations                        | 59 |
| Item 7A  | Quantitative and Qualitative Disclosure About Market Risk                                                          | 63 |
| Item 8   | Financial Statements and Supplementary Data                                                                        | 64 |
| Item 9   | Changes in and Disagreements with Accountants on Accounting and Financial Disclosure                               | 65 |
| Item 9A  | Controls and Procedures                                                                                            | 65 |
| Item 9B  | Other Information                                                                                                  | 65 |
| PART III | 66                                                                                                                 |
| Item 10  | Directors, Executive Officers and Corporate Governance                                                             | 66 |
| Item 11  | Executive Officer and Director Compensation                                                                        | 75 |
| Item 12  | Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters                     | 76 |
| Item 13  | Certain Relationships and Related Transactions, and Director Independence                                          | 77 |
| Item 14  | Principal Accounting Fees and Services                                                                             | 78 |
| PART IV  | 79                                                                                                                 |
| Item 15  | Exhibits, Financial Statement Schedules                                                                            | 79 |
| Item 16  | Form 10-K Summary                                                                                                  | 80 |

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|  | • | our ability to select an appropriate target business or businesses; |
|--|---------|---------------------------------------------------------------------|
|  | • | our ability to complete our initial business combination; |
|--|---------|-----------------------------------------------------------|
|  | • | our expectations around the performance of a prospective target business or businesses; |
|--|---------|-----------------------------------------------------------------------------------------|
|  | • | our success in retaining or recruiting, or changes required in, our officers, key employees or directors following our initial business combination; |
|--|---------|------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | our directors and officers allocating their time to other businesses and potentially having conflicts of interest with our business or in approving our initial business combination; |
|--|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | our potential ability to obtain additional financing to complete our initial business combination; |
|--|---------|----------------------------------------------------------------------------------------------------|
|  | • | our pool of prospective target businesses; |
|--|---------|--------------------------------------------|
|  | • | our ability to consummate an initial business combination due to the uncertainty resulting from the recent COVID-19 pandemic and other events (such as terrorist attacks, wars, geopolitical tensions, natural disasters or a significant outbreak of other infectious diseases); |
|--|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | the ability of our directors and officers to generate a number of potential business combination opportunities; |
|--|---------|-----------------------------------------------------------------------------------------------------------------|
|  | • | our public securities’ potential liquidity and trading; |
|--|---------|---------------------------------------------------------------|
|  | • | the lack of a market for our securities; |
|--|---------|------------------------------------------|
|  | • | the use of proceeds not held in the trust account or available to us from interest income on the trust account balance; |
|--|---------|-------------------------------------------------------------------------------------------------------------------------|
|  | • | the trust account not being subject to claims of third parties; |
|--|---------|-----------------------------------------------------------------|
|  | • | our being a company with no operating history and no operating revenues; |
|--|---------|--------------------------------------------------------------------------|
|  | • | our financial performance; or |
|--|---------|-------------------------------|
|  | • | the other risk and uncertainties discussed in “Item 1A. Risk Factors,” elsewhere in this Form 10-K and in our other filings with the Securities and Exchange Commission (the “SEC”). |
|--|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|  | • | long-term proprietary relationships with leaders and companies operating in our markets; |
|--|---------|------------------------------------------------------------------------------------------|

|  | • | direct relationships with leading private equity and venture capital firms; and |
|--|---------|---------------------------------------------------------------------------------|
|  | • | deep entrenchment in advisor deal flow with established relationships across our target sector. |
|--|---------|-------------------------------------------------------------------------------------------------|

|  | • | identifying, sourcing, structuring, acquiring, operating, and selling businesses; |
|--|---------|-----------------------------------------------------------------------------------|
|  | • | fostering relationships with sellers, capital providers, and target management teams; |
|--|---------|---------------------------------------------------------------------------------------|
|  | • | negotiating transactions favorable to our investors; |
|--|---------|------------------------------------------------------|
|  | • | executing transactions in multiple geographies and under varying economic and financial market conditions; |
|--|---------|------------------------------------------------------------------------------------------------------------|
|  | • | accessing the capital markets, including financing businesses and helping companies transition to public ownership; and |
|--|---------|-------------------------------------------------------------------------------------------------------------------------|

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|  | • | building durable businesses and creating long-term shareholder value through operations, capital allocation, and governance. |
|--|---------|------------------------------------------------------------------------------------------------------------------------------|

|  | • | Branding and Marketing: Our management team has a proven track record in brand creation and lifecycle management and creating strong emotional connection with a                brand’s customers. |
|--|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | End-to-End Retail Operations: Our management team has multiple years of experience in product and service development, sourcing logistics and technology. |
|--|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | Global Experience: Our management team has vast experience in developing new international markets and coordinating global support infrastructures from multiple                geographies. |
|--|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | Growth Focus: We are focused on driving value through brand, product and omni channel expansions while achieving operational optimization. |
|--|---------|--------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | Leadership and Mentoring: Our management team has C-suite (Chairman/CEO) level experience across multiple businesses, with significant experience in leading,                identifying, mentoring and retaining key management talent. |
|--|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | • | has a large addressable market with a strong existing and potential customer base; |
|--|---------|------------------------------------------------------------------------------------|
|  | • | has a brand that has a powerful emotional engagement with millennial and Gen-Z consumers; |
|--|---------|-------------------------------------------------------------------------------------------|
|  | • | has a driven and diverse management team with a track record of delivering against their strategic objectives; |
|--|---------|----------------------------------------------------------------------------------------------------------------|
|  | • | has a strong, distinct, and inclusive culture that enables employees and leaders to fully apply their life experiences to their work; |
|--|---------|---------------------------------------------------------------------------------------------------------------------------------------|
|  | • | has a history of strong fundamentals and operating results, such as visible, recurring revenues, scalable growth, and best-in-class operating margins, all of which                should provide a realistic path to translating into attractive free cash flow characteristics, which can be improved further under our ownership; |
|--|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | exhibits unrecognized value or other characteristics that we believe have been misevaluated or mispriced by the marketplace; |
|--|---------|------------------------------------------------------------------------------------------------------------------------------|
|  | • | has a team and a business model that can benefit from our management team’s operating and investment expertise, industry perspective and skillset, operating                playbook, and technological and innovation capabilities; |
|--|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | has a leadership team that is prepared to be a publicly traded company; |
|--|---------|-------------------------------------------------------------------------|
|  | • | has a strategy where growth and stability will benefit from access to broader capital markets; and |
|--|---------|----------------------------------------------------------------------------------------------------|
|  | • | offers an attractive risk-adjusted return for our shareholders. |
|--|---------|-----------------------------------------------------------------|

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|  | • | solely dependent upon the performance of a single business, property or asset; or |
|--|---------|-----------------------------------------------------------------------------------|
|  | • | dependent upon the development or market acceptance of a single or limited number of products, processes or services. |
|--|---------|-----------------------------------------------------------------------------------------------------------------------|

|  | • | we issue (other than in a public offering for cash) ordinary shares that will either (a) be equal to or in excess of 20% of the number of Class A ordinary shares                then issued and outstanding or (b) have voting power equal to or in excess of 20% of the voting power then outstanding; |
|--|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | any of our directors, officers or substantial security holders (as defined by the rules of Nasdaq) has a 5% or greater interest (or such persons collectively have a                10% or greater interest), directly or indirectly, in the target business or assets to be acquired or otherwise and the present or potential issuance of ordinary shares could result in an increase in issued and outstanding ordinary shares or                voting power of 5% or more; or |
|--|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|  | • | the issuance or potential issuance of ordinary shares will result in our undergoing a change of control. |
|--|---------|----------------------------------------------------------------------------------------------------------|

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|  | • | conduct the redemptions pursuant to Rule 13e-4 and Regulation 14E of the Exchange Act, which regulate issuer tender offers; and |
|--|---------|---------------------------------------------------------------------------------------------------------------------------------|
|  | • | file tender offer documents with the SEC prior to completing our initial business combination which contain substantially the same financial and other information about the initial              business combination and the redemption rights as is required under Regulation 14A of the Exchange Act, which regulates the solicitation of proxies. |
|--|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | • | conduct the redemptions in conjunction with a proxy solicitation pursuant to Regulation 14A of the Exchange Act, which regulates the solicitation of proxies, and not pursuant to the                tender offer rules; and |
|--|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | file proxy materials with the SEC. |
|--|---------|------------------------------------|

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|  | • | prior to the consummation of our initial business combination, we shall either (1) seek shareholder approval of our initial business combination at a meeting called                for such purpose at which public shareholders may seek to redeem their public shares without voting, and if they do vote, irrespective of whether they vote for or against the proposed transaction, into their pro rata share of the aggregate                amount then on deposit in the trust account, calculated as of two business days prior to the completion of our initial business combination, including interest (which interest shall be net of taxes payable), or (2) provide our public                shareholders with the opportunity to tender their public shares to us by means of a tender offer (and thereby avoid the need for a shareholder vote) for an amount equal to their pro rata share of the aggregate amount then on deposit in the                trust account, calculated as of two business days prior to the completion of our initial business combination, including interest (which interest shall be net of taxes payable), in each case subject to the limitations described herein; |
|--|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|  | • | in no event will we redeem our public shares in an amount that would cause our net tangible assets to be less than $5,000,001 following such redemptions; |
|--|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | if we seek shareholder approval, we will complete our initial business combination only if we receive an ordinary resolution under Cayman Islands law, which                requires the affirmative vote of holders of a majority of shares who attend and vote at a general meeting of the company; |
|--|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | if our initial business combination is not consummated within 18 months from the closing of the Initial Public Offering, then our existence will terminate and we                will distribute all amounts in the trust account; and |
|--|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | after the completion of the Initial Public Offering and prior to our initial business combination, we may                  not issue additional ordinary shares or any other securities that would entitle the holders thereof to (1) receive funds from the trust account or (2) vote as a class with our public shares (a) on any initial business combination or (b)                  to approve an amendment to our amended and restated memorandum and articles of association to amend the foregoing provisions. |
|--|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|  | • | We are a recently-incorporated company with no operating history and no operating revenues, and you have no basis on which to evaluate our ability to achieve our business objective. |
|--|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | Our public shareholders may not be afforded an opportunity to vote on our proposed business combination, which means we may complete our initial business combination even though a              majority of our public shareholders do not support such a combination. |
|--|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | If we seek shareholder approval of our initial business combination, our initial shareholders, directors, officers and senior advisors have agreed to vote in favor of such initial              business combination, regardless of how our public shareholders vote. |
|--|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | Your only opportunity to affect the investment decision regarding a potential business combination will be limited to the exercise of your right to redeem your shares from us for cash,              unless we seek shareholder approval of such business combination. |
|--|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | The ability of our public shareholders to redeem their shares for cash may make our financial condition unattractive to potential business combination targets, which may make it difficult              for us to enter into a business combination with a target. |
|--|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | The ability of our public shareholders to exercise redemption rights with respect to a large number of our shares may not allow us to complete the most desirable business combination or              optimize our capital structure. |
|--|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | The ability of our public shareholders to exercise redemption rights with respect to a large number of our shares could increase the probability that our initial business combination              would be unsuccessful and that you would have to wait for liquidation in order to redeem your shares. |
|--|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | Unlike some other similar blank check companies, we have 18 months from the closing of the Initial Public Offering (or up to any Extension Period, if applicable) to consummate an initial              business combination. The requirement that we complete our initial business combination within the prescribed time frame may give potential target businesses leverage over us in negotiating a business combination and may limit the time we              have in which to conduct due diligence on potential business combination targets, in particular as we approach our dissolution deadline, which could undermine our ability to complete our initial business combination on terms that would              produce value for our shareholders. |
|--|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | Our search for a business combination, and any target business with which we ultimately consummate a business combination, may be materially adversely affected by the COVID-19 outbreak              and other events and the status of debt and equity markets. |
|--|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | Unlike some other similar blank check companies, we have 18 months from the closing of the Initial Public Offering (or up to any Extension Period, if applicable) to consummate an initial              business combination. We may not be able to complete our initial business combination within the prescribed time frame, in which case we would cease all operations except for the purpose of winding up and we would redeem our public shares and              liquidate, in which case our public shareholders may receive only $10.00 per share, or less than such amount in certain circumstances, and our rights and warrants will expire worthless. |
|--|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | You are not entitled to protections normally afforded to investors of many other blank check companies. |
|--|---------|---------------------------------------------------------------------------------------------------------|
|  | • | If a shareholder fails to receive notice of our offer to redeem our public shares in connection with our initial business combination, or fails to comply with the procedures for tendering              its shares, such shares may not be redeemed. |
|--|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|  | • | If we seek shareholder approval of our initial business combination, our sponsor, directors, officers, senior advisors or any of their respective affiliates may elect to purchase shares,              rights or warrants from public shareholders, which may influence a vote on a proposed business combination and reduce the public “float” of our securities. |
|--|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | Because of our limited resources and the significant competition for business combination opportunities, it may be more difficult for us to complete our initial business combination. If              we have not completed our initial business combination within the required time period, our public shareholders may receive only approximately $10.00 per share, or less in certain circumstances, on our redemption of their shares, and our              rights and warrants will expire worthless. |
|--|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | If the net proceeds of the Initial Public Offering and the sale of the Private Placement Warrants not being held in the trust account are insufficient, it could limit the amount available              to fund our search for a target business or businesses and complete our initial business combination and we may depend on loans from our sponsor or management team to fund our search, to pay our taxes and to complete our initial business              combination. |
|--|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | Holders of Class A ordinary shares will not be entitled to vote on the appointment of our directors prior to our initial business combination. |
|--|---------|------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | Certain agreements we entered into in connection with the Initial Public Offering may be amended without shareholder approval. |
|--|---------|--------------------------------------------------------------------------------------------------------------------------------|
|  | • | You will not have any rights or interests in funds from the trust account, except under certain limited circumstances. To liquidate your investment, therefore, you may be forced to sell              your public shares, rights and/or warrants, potentially at a loss. |
|--|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | Nasdaq may delist our securities from trading on its exchange, which could limit investors’ ability to make transactions in our securities and subject us to additional trading              restrictions. |
|--|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | As a “controlled company” within the meaning of Nasdaq listing standards, we qualify for exemptions from certain corporate governance requirements. We have the opportunity to elect any of              the exemptions afforded a controlled company. |
|--|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|  | • | restrictions on the nature of our investments; and |
|--|---------|----------------------------------------------------|
|  | • | restrictions on the issuance of securities; |
|--|---------|---------------------------------------------|

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|  | • | registration as an investment company with the SEC; |
|--|---------|-----------------------------------------------------|
|  | • | adoption of a specific form of corporate structure; and |
|--|---------|---------------------------------------------------------|
|  | • | reporting, record keeping, voting, proxy and disclosure requirements and other rules and regulations that we are currently not subject to. |
|--|---------|--------------------------------------------------------------------------------------------------------------------------------------------|

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|  | • | solely dependent upon the performance of a single business, property or asset; or |
|--|---------|-----------------------------------------------------------------------------------|
|  | • | dependent upon the development or market acceptance of a single or limited number of products, processes or services. |
|--|---------|-----------------------------------------------------------------------------------------------------------------------|

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|  | • | a limited availability of market quotations for our securities; |
|--|---------|-----------------------------------------------------------------|
|  | • | reduced liquidity for our securities; |
|--|---------|---------------------------------------|
|  | • | a determination that our Class A ordinary shares are a “penny stock” which will require brokers trading in our Class A ordinary shares to adhere to more stringent                rules and possibly result in a reduced level of trading activity in the secondary trading market for our securities; |
|--|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | a limited amount of news and analyst coverage; and |
|--|---------|----------------------------------------------------|
|  | • | a decreased ability to issue additional securities or obtain additional financing in the future. |
|--|---------|--------------------------------------------------------------------------------------------------|

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|  | • | may significantly dilute the equity interest of investors in the Initial Public Offering, which dilution would increase if the anti-dilution provisions in the Class B              ordinary shares resulted in the issuance of Class A ordinary shares on a greater than one-to-one basis upon conversion of the Class B ordinary shares; |
|--|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | may subordinate the rights of holders of ordinary shares if preferred shares are issued with rights senior to those afforded our ordinary shares; |
|--|---------|---------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | could cause a change of control if a substantial number of our Class A ordinary shares is issued, which may affect, among other things, our ability to use our net              operating loss carry forwards, if any, and could result in the resignation or removal of our present directors and officers; |
|--|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | may have the effect of delaying or preventing a change of control of us by diluting the share ownership or voting rights of a person seeking to obtain control of us; |
|--|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | may adversely affect prevailing market prices for our Units, ordinary shares, rights and/or warrants; and |
|--|---------|-----------------------------------------------------------------------------------------------------------|
|  | • | may not result in adjustment to the exercise price of our warrants. |
|--|---------|---------------------------------------------------------------------|

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|  | • | default and foreclosure on our assets if our operating revenues after an initial business combination are insufficient to repay our debt obligations; |
|--|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | acceleration of our obligations to repay the indebtedness even if we make all principal and interest payments when due if we breach certain covenants that require the              maintenance of certain financial ratios or reserves without a waiver or renegotiation of that covenant; |
|--|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | our immediate payment of all principal and accrued interest, if any, if the debt is payable on demand; |
|--|---------|--------------------------------------------------------------------------------------------------------|
|  | • | our inability to obtain necessary additional financing if the debt contains covenants restricting our ability to obtain such financing while the debt is outstanding; |
|--|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | our inability to pay dividends on our ordinary shares; |
|--|---------|--------------------------------------------------------|
|  | • | using a substantial portion of our cash flow to pay principal and interest on our debt, which will reduce the funds available for dividends on our ordinary shares if              declared, expenses, capital expenditures, acquisitions and other general corporate purposes; |
|--|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | limitations on our flexibility in planning for and reacting to changes in our business and in the industry in which we operate; |
|--|---------|---------------------------------------------------------------------------------------------------------------------------------|
|  | • | increased vulnerability to adverse changes in general economic, industry and competitive conditions and adverse changes in government regulation; and |
|--|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | limitations on our ability to borrow additional amounts for expenses, capital expenditures, acquisitions, debt service requirements, execution of our strategy and              other purposes and other disadvantages compared to our competitors who have less debt. |
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|  | • | costs and difficulties inherent in managing cross-border business operations and complying with commercial and legal requirements of overseas markets; |
|--|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | rules and regulations regarding currency redemption; |
|--|---------|------------------------------------------------------|
|  | • | complex corporate withholding taxes on individuals; |
|--|---------|-----------------------------------------------------|
|  | • | laws governing the manner in which future business combinations may be effected; |
|--|---------|----------------------------------------------------------------------------------|
|  | • | exchange listing or delisting requirements; |
|--|---------|---------------------------------------------|
|  | • | tariffs and trade barriers; |
|--|---------|-----------------------------|
|  | • | economic sanctions; |
|--|---------|---------------------|
|  | • | regulations related to customs and import/export matters; |
|--|---------|-----------------------------------------------------------|
|  | • | local or regional economic policies and market conditions; |
|--|---------|------------------------------------------------------------|
|  | • | unexpected changes in regulatory requirements; |
|--|---------|------------------------------------------------|
|  | • | challenges in managing and operating international operations; |
|--|---------|----------------------------------------------------------------|
|  | • | longer payment cycles; |
|--|---------|------------------------|
|  | • | tax consequences, such as tax law changes, including termination or reduction of tax and other incentives that the applicable government provides to domestic                companies, and variations in tax laws as compared to the United States; |
|--|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | currency fluctuations and exchange controls, including devaluations and other exchange rate movements; |
|--|---------|--------------------------------------------------------------------------------------------------------|
|  | • | rates of inflation, price instability and interest rate fluctuations; |
|--|---------|-----------------------------------------------------------------------|
|  | • | liquidity of domestic capital and lending markets; |
|--|---------|----------------------------------------------------|
|  | • | challenges in collecting accounts receivable; |
|--|---------|-----------------------------------------------|
|  | • | cultural and language differences; |
|--|---------|------------------------------------|
|  | • | employment regulations; |
|--|---------|-------------------------|
|  | • | energy shortages; |
|--|---------|-------------------|
|  | • | underdeveloped or unpredictable legal or regulatory systems; |
|--|---------|--------------------------------------------------------------|
|  | • | corruption; |
|--|---------|-------------|
|  | • | protection of intellectual property; |
|--|---------|--------------------------------------|
|  | • | crime, strikes, riots, social unrest, civil disturbances, terrorist attacks, wars, natural disasters, geopolitical tensions and other forms of social instability                and global conflicts, such as the ongoing military conflict between Russia and Ukraine; |
|--|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | regime changes and political upheaval; |
|--|---------|----------------------------------------|
|  | • | deterioration of political relations with the United States; |
|--|---------|--------------------------------------------------------------|
|  | • | obligatory military service by personnel; and |
|--|---------|-----------------------------------------------|
|  | • | government appropriation of assets. |
|--|---------|-------------------------------------|

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|  | • | we have a board that includes a majority of “independent directors,” as defined under the rules of Nasdaq; |
|--|---------|------------------------------------------------------------------------------------------------------------------------|
|  | • | we have a compensation committee of our board that is comprised entirely of independent directors with a written charter addressing the committee’s purpose and responsibilities; and |
|--|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | we have a nominating and corporate governance committee of our board that is comprised of two independent directors with a written charter addressing the committee’s purpose and              responsibilities. We intend to utilize these exemptions. Accordingly, you will not have the same protections afforded to shareholders of companies that are subject to all of the Nasdaq corporate governance requirements. |
|--|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Item 1B. | Unresolved Staff Comments |   |
|----------|---------------------------|--------|

| Item 2. | Properties |   |
|---------|------------|--------|

| Item 3. | Legal Proceedings |   |
|---------|-------------------|--------|

| Item 4. | Mine Safety Disclosures |   |
|---------|-------------------------|--------|

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| Item 5. | Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities. |   |
|---------|---------------------------------------------------------------------------------------------------------------------|--------|

| (a) | Market Information |
|-----|--------------------|

| (b) | Holders |
|-----|---------|

| (c) | Dividends |
|-----|-----------|

| (d) | Securities Authorized for Issuance Under Equity Compensation Plans |
|-----|--------------------------------------------------------------------|

| (e) | Performance Graph |
|-----|-------------------|

| (f) | Recent Sales of Unregistered Securities; Use of Proceeds from Registered Securities |
|-----|-------------------------------------------------------------------------------------|

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| Item 6. | Selected Financial Data |   |
|---------|-------------------------|--------|

| Item 7. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |   |
|---------|---------------------------------------------------------------------------------------------|--------|

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| Item 7A. | Quantitative and Qualitative Disclosures about Market Risk |   |
|----------|------------------------------------------------------------|--------|

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| Item 8. | Financial Statements and Supplementary Data |   |
|---------|---------------------------------------------|--------|

| Report of Independent Registered Public Accounting Firm PCAOB ID 688                                                            | F-2 |
|---------------------------------------------------------------------------------------------------------------------------------|-----|
| Financial Statements                                                                                                            |     |
| Balance Sheet as of December 31, 2021                                                                                           | F-3 |
| Statement of Operations for the Period from February 11, 2021 (inception) through December 31, 2021                             | F-4 |
| Statement of Changes in Shareholders’ Deficit for the Period from February 11, 2021 (inception) through December 31, 2021 | F-5 |
| Statement of Cash Flows for the Period from February 11, 2021 (inception) through December 31, 2021                             | F-6 |
| Notes to Financial Statements                                                                                                   | F-7 |

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| Assets                                                                                                                    |   |   |        |
|---------------------------------------------------------------------------------------------------------------------------|--------|--------|-------------|
| Current assets:                                                                                                           |   |   |        |
| Cash                                                                                                                      |   | $      | 155,238     |   |
| Prepaid expenses                                                                                                          |   |   | 616,785     |   |
| Total current assets                                                                                                      |   |   | 772,023     |   |
| Investments held in Trust Account                                                                                         |   |   | 275,973,259 |   |
| Total Assets                                                                                                              |   | $      | 276,745,282 |   |
|                                                                                                                      |   |   |        |   |
| Liabilities, Class A Ordinary Shares Subject to Redemption, and Shareholders’ Deficit                               |   |   |        |   |
| Current liabilities:                                                                                                      |   |   |        |   |
| Accounts payable                                                                                                          |   | $      | 13,817      |   |
| Accrued expenses                                                                                                          |   |   | 88,809      |   |
| Total current liabilities                                                                                                 |   |   | 102,626     |   |
| Deferred underwriting commissions                                                                                         |   |   | 9,660,000   |   |
| Total Liabilities                                                                                                         |   |   | 9,762,626   |   |
|                                                                                                                      |   |   |        |   |
| Commitments and Contingencies (Note 6)                                                                                    |   |   |        |   |
| Class A ordinary shares; 27,600,000 shares subject to possible redemption at $10.00 per share                             |   |   | 276,000,000 |   |
|                                                                                                                      |   |   |        |   |
| Shareholders’ Deficit:                                                                                              |   |   |        |   |
| Preference shares, $0.0001 par value; 5,000,000 shares authorized; none issued and outstanding                  |   |   | -           |   |
| Class A ordinary shares, $0.0001 par value; 500,000,000 shares authorized; no non-redeemable shares issued or outstanding |   |   | -           |   |
| Class B ordinary shares, $0.0001 par value; 50,000,000 shares authorized; 6,900,000 shares issued and outstanding         |   |   | 690         |   |
| Additional paid-in capital                                                                                                |   |   | -           |   |
| Accumulated deficit                                                                                                       |   |   | (9,018,034  | ) |
| Total shareholders’ deficit                                                                                         |   |   | (9,017,344  | ) |
| Liabilities, Class A ordinary Shares Subject to Redemption, and Shareholders’ Deficit                               |   | $      | 276,745,282 |   |

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| General and administrative expenses                                                                     |   | $      | 234,600   |   |
|---------------------------------------------------------------------------------------------------------|--------|--------|-----------|--------|
| General and administrative expenses - related party                                                     |   |   | 14,667    |   |
| Loss from operations:                                                                                   |   |   | (249,267  | )      |
|                                                                                                    |   |   |      |   |
| Other income (expenses):                                                                                |   |   |      |   |
| Loss from investments held in Trust Account                                                             |   |   | (26,741   | )      |
| Net loss                                                                                                |   | $      | (276,008  | )      |
|                                                                                                    |   |   |      |   |
| Weighted average number of  Class A ordinary shares outstanding, basic and diluted                 |   |   | 6,092,593 |   |
|                                                                                                    |   |   |      |   |
| Basic and diluted net loss per share, Class A ordinary shares                                           |   | $      | (0.03     | )      |
|                                                                                                    |   |   |      |   |
| Weighted average number of shares outstanding of Class B ordinary shares outstanding, basic and diluted |   |   | 3,407,407 |   |
|                                                                                                    |   |   |      |   |
| Basic and diluted net loss per share, Class B ordinary shares                                           |   | $      | (0.03     | )      |

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|                                                                                                                      |   | Ordinary Shares |   |   | Additional |   |   |    |   |   | Total       |   |
|---------------------------------------------------------------------------------------------------------------------------|--------|-----------------|--------|--------|------------|--------|--------|---------|--------|--------|-------------|--------|
|                                                                                                                      |   | Class A         |   |   | Class B    |   |   | Paid-in |   |   | Accumulated |   |   | Shareholders’ |   |
|                                                                                                                      |   | Shares          |   |   | Amount     |   |   | Shares  |   |   | Amount      |   |   | Capital |   |   | Deficit |   |   | Deficit |   |
| Balance -  February 11, 2021 (inception)                                                                             |   |            | -      |   |       | $      | -      |    |   |   | -           |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |
| Issuance of Class B ordinary shares to Sponsor                                                                            |   |            | -      |   |       |   | -      |    |   |   | 6,900,000   |   |   |   | 690 |   |   |   | 24,310 |   |   |   | - |   |   |   | 25,000 |   |
| Sale of private placement warrants to Sponsor in private placement                                                        |   |            | -      |   |       |   | -      |    |   |   | -           |   |   |   | - |   |   |   | 7,520,000 |   |   |   | - |   |   |   | 7,520,000 |   |
| Fair value of public warrants and rights included in the Units sold in the Initial Public Offering                        |   |            | -      |   |       |   | -      |    |   |   | -           |   |   |   | - |   |   |   | 7,624,500 |   |   |   | - |   |   |   | 7,624,500 |   |
| Offering costs associated with issuance of public warrants and rights as part of the Units in the Initial Public Offering |   |            | -      |   |       |   | -      |    |   |   | -           |   |   |   | - |   |   |   | (408,795 | ) |   |   | - |   |   |   | (408,795 | ) |
| Remeasurement for Class A ordinary shares subject to possible redemption amount                                           |   |            | -      |   |       |   | -      |    |   |   | -           |   |   |   | - |   |   |   | (14,760,015 | ) |   |   | (8,742,026 | ) |   |   | (23,502,041 | ) |
| Net loss                                                                                                                  |   |            | -      |   |       |   | -      |    |   |   | -           |   |   |   | - |   |   |   | - |   |   |   | (276,008 | ) |   |   | (276,008 | ) |
| Balance -  December 31, 2021                                                                                         |   |                 | -      |   |       | $      | -      |    |   |        | 6,900,000   |   |   | $ | 690 |   |   | $ | - |   |   | $ | (9,018,034 | ) |   | $ | (9,017,344 | ) |

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| Cash Flows from Operating Activities:                                                                         |   |   |         |
|---------------------------------------------------------------------------------------------------------------|--------|--------|--------------|
| Net loss                                                                                                      |   | $      | (276,008     | ) |
| Adjustments to reconcile net loss to net cash used in operating activities:                                   |   |   |         |   |
| General and administrative expenses paid by related party in exchange for issuance of Class B ordinary shares |   |   | 25,000       |   |
| Loss from investments held in the Trust Account                                                               |   |   | 26,741       |   |
| General and administrative expenses paid by related party under promissory note                               |   |   | 5,000        |   |
| Changes in operating assets and liabilities:                                                                  |   |   |         |   |
| Prepaid expenses                                                                                              |   |   | (616,785     | ) |
| Accounts payable                                                                                              |   |   | 13,817       |   |
| Accrued expenses                                                                                              |   |   | 18,809       |   |
| Net cash used in operating activities                                                                         |   |   | (803,426     | ) |
|                                                                                                          |   |   |         |   |
| Cash Flows from Investing Activities:                                                                         |   |   |         |   |
| Cash deposited in Trust Account                                                                               |   |   | (276,000,000 | ) |
| Net cash used in investing activities                                                                         |   |   | (276,000,000 | ) |
|                                                                                                          |   |   |         |   |
| Cash Flows from Financing Activities:                                                                         |   |   |         |   |
| Repayment of note payable to related party                                                                    |   |   | (166,755     | ) |
| Proceeds received from initial public offering, gross                                                         |   |   | 276,000,000  |   |
| Proceeds received from private placement                                                                      |   |   | 7,520,000    |   |
| Offering costs paid                                                                                           |   |   | (6,394,581   | ) |
| Net cash provided by financing activities                                                                     |   |   | 276,958,664  |   |
|                                                                                                          |   |   |         |   |
| Net change in cash                                                                                            |   |   | 155,238      |   |
|                                                                                                          |   |   |         |   |
| Cash - beginning of the period                                                                                |   |   | -            |   |
| Cash - end of the period                                                                                      |   | $      | 155,238      |   |
|                                                                                                          |   |   |         |   |
| Supplemental disclosure of non-cash investing and financing activities:                                       |   |   |         |   |
| Offering costs included in accrued expenses                                                                   |   | $      | 70,000       |   |
| Offering costs paid by related party under promissory note                                                    |   | $      | 161,755      |   |
| Deferred underwriting commissions                                                                             |   | $      | 9,660,000    |   |

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|  | • | Level 1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets; |
|--|---------|-----------------------------------------------------------------------------------------------------------------------|
|  | • | Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or              quoted prices for identical or similar instruments in markets that are not active; and |
|--|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation              techniques in which one or more significant inputs or significant value drivers are unobservable. |
|--|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|                                                                |   | For the Period From February 11, 2021(Inception) Through December 31, 2021 |      |
|----------------------------------------------------------------|--------|----------------------------------------------------------------------------|-----------|
|                                                                |   | Class A                                                                    |      |   | Class B |   |
| Basic and diluted net loss per ordinary share:                 |   |                                                                       |      |   |   |   |
| Numerator:                                                     |   |                                                                       |      |   |   |   |
| Allocation of net loss                                         |   | $                                                                          | (177,011  | ) |   | $ | (98,997 | ) |
|                                                           |   |                                                                       |      |   |   |   |   |   |
| Denominator:                                                   |   |                                                                       |      |   |   |   |   |   |
| Basic and diluted weighted average ordinary shares outstanding |   |                                                                       | 6,092,593 |   |   |   | 3,407,407 |   |
|                                                                |   |                                                                       |      |   |   |   |   |   |
| Basic and diluted net loss per ordinary share                  |   | $                                                                          | (0.03     | ) |   | $ | (0.03 | ) |

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|                                                                               |   |   |        |
|------------------------------------------------------------------------------------|--------|--------|-------------|
| Gross proceeds                                                                     |   | $      | 276,000,000 |   |
| Less:                                                                              |   |   |        |   |
| Proceeds allocated to Public Warrants                                              |   |   | (7,624,500  | ) |
| Offering costs allocated to Class A ordinary shares subject to possible redemption |   |   | (15,877,541 | ) |
| Plus:                                                                              |   |   |        |   |
| Remeasurement on Class A ordinary shares subject to possible redemption amount     |   |   | 23,502,041  |   |
|                                                                                    |   |   |        |   |
| Class A ordinary shares subject to possible redemption                             |   | $      | 276,000,000 |   |

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|  | • | in whole and not in part; at a price of $0.01 per Public Warrant; |
|--|---------|-------------------------------------------------------------------|
|  | • | upon a minimum of 30 days’ prior written notice of redemption; |
|--|---------|----------------------------------------------------------------------|
|  | • | and if, and only if, the last reported sale price (the “closing price”) of Class A ordinary shares equals or exceeds $18.00 per share (as adjusted) for any 10                trading days within a 20-trading day period ending on the third trading day prior to the date on which the Company sends the notice of redemption to the warrant holders. |
|--|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Description                       |   | Level 1 |        |   | Level 2 |   |   | Level 3 |   |
|-----------------------------------|--------|---------|-------------|--------|---------|--------|--------|---------|--------|
| Assets:                           |   |    |        |   |    |   |   |    |   |
| Investments held in Trust Account |   | $       | 275,973,259 |   |    | $      | -      |    |   | $ | - |   |

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| Name             |  | Age |  | Title                                                   |
|------------------|--|-----|--|---------------------------------------------------------|
| Jide Zeitlin     |  | 58  |  | Co-Chairman of the Board and Co-Chief Executive Officer |
| Lew Frankfort    |  | 76  |  | Co-Chairman of the Board and Co-Chief Executive Officer |
| Charles McGuigan |  | 65  |  | Chief Operating Officer, President and Director         |
| Thomas Northover |  | 33  |  | Executive Director                                      |
| Ibukun Awosika   |  | 59  |  | Director                                                |
| Natara Holloway  |  | 45  |  | Director                                                |

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|  | • | assisting board oversight of (1) the integrity of our financial statements, (2) our compliance with legal and regulatory requirements, (3) our independent auditor’s              qualifications and independence, and (4) the performance of our internal audit function and independent auditors; |
|--|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | the appointment, compensation, retention, replacement, and oversight of the work of the independent auditors and any other independent registered public accounting              firm engaged by us; |
|--|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | pre-approving all audit and non-audit services to be provided by the independent auditors or any other registered public accounting firm engaged by us, and              establishing pre-approval policies and procedures; |
|--|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | reviewing and discussing with the independent auditors all relationships the auditors have with us in order to evaluate their continued independence; |
|--|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | setting clear hiring policies for employees or former employees of the independent auditors; |
|--|---------|---------------------------------------------------------------------------------------------------|
|  | • | setting clear policies for audit partner rotation in compliance with applicable laws and regulations; |
|--|---------|------------------------------------------------------------------------------------------------------------|
|  | • | obtaining and reviewing a report, at least annually, from the independent auditors describing (1) the independent auditor’s internal quality-control procedures and              (2) any material issues raised by the most recent internal quality-control review, or peer review, of the audit firm, or by any inquiry or investigation by governmental or professional authorities, within the preceding five years respecting              one or more independent audits carried out by the firm and any steps taken to deal with such issues; |
|--|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|  | • | meeting to review and discuss our annual audited financial statements and quarterly financial statements with management and the independent auditor, including              reviewing our specific disclosures under “Management’s Discussion and Analysis of Financial Condition and Results of Operations”; |
|--|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | reviewing and approving any related party transaction required to be disclosed pursuant to Item 404 of Regulation S-K promulgated by the SEC prior to us entering into              such transaction; and |
|--|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | reviewing with management, the independent auditors, and our legal advisors, as appropriate, any legal, regulatory or compliance matters, including any correspondence              with regulators or government agencies and any employee complaints or published reports that raise material issues regarding our financial statements or accounting policies and any significant changes in accounting standards or rules              promulgated by the Financial Accounting Standards Board, the SEC or other regulatory authorities. |
|--|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | reviewing and approving on an annual basis the corporate goals and objectives relevant to our Co-Chief Executive Officers’ compensation, evaluating our Chief              Executive Officers’ performance in light of such goals and objectives and determining and approving the remuneration (if any) of our Co-Chief Executive Officers based on such evaluation; |
|--|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | reviewing and making recommendations to our board of directors with respect to the compensation, and any incentive-compensation and equity-based plans that are              subject to board approval of all of our other officers; |
|--|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | reviewing our executive compensation policies and plans; |
|--|---------|---------------------------------------------------------------|
|  | • | implementing and administering our incentive compensation equity-based remuneration plans; |
|--|---------|-------------------------------------------------------------------------------------------------|
|  | • | assisting management in complying with our proxy statement and annual report disclosure requirements; |
|--|---------|------------------------------------------------------------------------------------------------------------|
|  | • | approving all special perquisites, special cash payments and other special compensation and benefit arrangements for our officers and employees; |
|--|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | producing a report on executive compensation to be included in our annual proxy statement; and |
|--|---------|-----------------------------------------------------------------------------------------------------|
|  | • | reviewing, evaluating and recommending changes, if appropriate, to the remuneration for directors. |
|--|---------|----------------------------------------------------------------------------------------------------|

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|  | • | identifying, screening and reviewing individuals qualified to serve as directors, consistent with criteria approved by the board of directors,                and recommending to the board of directors candidates for nomination for appointment at the annual general meeting or to fill vacancies on the board of directors; |
|--|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | developing and recommending to the board of directors and overseeing implementation of our corporate governance guidelines; |
|--|---------|----------------------------------------------------------------------------------------------------------------------------------|
|  | • | coordinating and overseeing the annual self-evaluation of the board of directors, its committees, individual directors and management in the                governance of the company; and |
|--|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | reviewing on a regular basis our overall corporate governance and recommending improvements as and when necessary. |
|--|---------|--------------------------------------------------------------------------------------------------------------------|

|  | • | duty to act in good faith in what the director or officer believes to be in the best interests of the company as a whole; |
|--|---------|--------------------------------------------------------------------------------------------------------------------------------|

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|  | • | duty to exercise powers for the purposes for which those powers were conferred and not for a collateral purpose; |
|--|---------|-----------------------------------------------------------------------------------------------------------------------|
|  | • | duty to not improperly fetter the exercise of future discretion; |
|--|---------|-----------------------------------------------------------------------|
|  | • | duty to exercise powers fairly as between different sections of shareholders; |
|--|---------|------------------------------------------------------------------------------------|
|  | • | duty not to put themselves in a position in which there is a conflict between their duty to the company and their personal interests; and |
|--|---------|------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | duty to exercise independent judgment. |
|--|---------|----------------------------------------|

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|  | • | None of our directors or officers is required to commit his or her full time to our affairs and, accordingly, may have conflicts of interest in allocating his or her              time among various business activities. |
|--|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | In the course of their other business activities, our directors and officers may become aware of investment and business opportunities that may be appropriate for              presentation to us as well as the other entities with which they are affiliated. Our management may have conflicts of interest in determining to which entity a particular business opportunity should be presented. |
|--|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | Our initial shareholders, directors, officers and senior advisors have agreed to waive their redemption rights with respect to any founder shares and public shares              held by them in connection with the consummation of our initial business combination. Additionally, our initial shareholders have agreed to waive their redemption rights with respect to their founder shares if we fail to consummate our              initial business combination within 18 months after the closing of this offering or during any Extension Period. However, if our initial shareholders (or any of our directors, officers or affiliates) acquire public shares, they will be              entitled to liquidating distributions from the trust account with respect to such public shares if we fail to consummate our initial business combination within the prescribed time frame. If we do not complete our initial business combination              within such applicable time period, the proceeds of the sale of the Private Placement Warrants held in the trust account will be used to fund the redemption of our public shares, and the private placement warrants will expire worthless.              Pursuant to a letter agreement that our initial shareholders, directors, officers and senior advisors have entered into with us, with certain limited exceptions, the founder shares will not be transferable, assignable or salable by our              initial shareholders until the earlier of: (1) one year after the completion of our initial business combination; and (2) subsequent to our initial business combination (x) if the last reported sale price of our Class A ordinary shares equals              or exceeds $12.00 per share (as adjusted for share sub-divisions, share dividends, rights issuances, consolidations, reorganizations, recapitalizations and other similar transactions) for any 20 trading days within any 30-trading day period              commencing at least 150 days after our initial business combination or (y) the date on which we complete a liquidation, merger, share exchange, reorganization or other similar transaction that results in all of our public shareholders having              the right to exchange their ordinary shares for cash, securities or other property. In addition, our sponsor has agreed, subject to exceptions, not to transfer any unvested founder shares prior to the date such securities become vested. With              certain limited exceptions, the private placement warrants and the ordinary shares underlying such warrants, will not be transferable, assignable or salable by our sponsor until 30 days after the completion of our initial business              combination. Since our sponsor and directors and officers directly and/or indirectly own ordinary shares and warrants, our directors and officers may have a conflict of interest in determining whether a particular target business is an              appropriate business with which to effectuate our initial business combination. |
|--|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | Our directors and officers may negotiate employment or consulting agreements with a target business in connection with a particular business combination. These              agreements may provide for them to receive compensation following our initial business combination and as a result, may cause them to have conflicts of interest in determining whether to proceed with a particular business combination. |
|--|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | Our directors and officers may have a conflict of interest with respect to evaluating a particular business combination if the retention or resignation of any such              directors and officers was included by a target business as a condition to any agreement with respect to our initial business combination. The conflicts described above may not be resolved in our favor. |
|--|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Individual       | ​ | Entity                          | ​ | Entity’s Business         | ​ | Affiliation              |
|------------------|---------|---------------------------------|---------|---------------------------------|---------|--------------------------|
| Jide Zeitlin     | ​ | The Keffi Group Ltd             | ​ | Principal Investment            | ​ | CEO and Chairman         |
|             | ​ | Integrated Energy Materials LLC | ​ | Principal Investment            | ​ | Co-Chairman and CEO      |
| Lew Frankfort    | ​ | Benvolio Group                  | ​ | Principal Investment            | ​ | CEO                      |
|             | ​ | Veronica Beard                  | ​ | Luxury Branded Retail           | ​ | Director                 |
|             | ​ | MindBodyGreen                   | ​ | Consumer Lifestyle and Wellness | ​ | Director                 |
|             | ​ | Recycled Track Systems          | ​ | Recycling                       | ​ | Director                 |
|             | ​ | LinkIT                          | ​ | Education                       | ​ | Director                 |
| Charles McGuigan | ​ | —                         | ​ | —                         | ​ | —                  |
| Thomas Northover | ​ | The Keffi Group Ltd.            | ​ | Principal Investment            | ​ | Chief Investment Officer |
|             | ​ | Kuramo Capital Management       | ​ | Investment Management           | ​ | Investment Professional  |
|             | ​ | Integrated Energy Materials LLC | ​ | Principal Investment            | ​ | Director                 |
| Ibukun Awosika   | ​ | d-Light Inc                     | ​ | Energy                          | ​ | Director                 |
|             | ​ | House of Tara International     | ​ | Beauty                          | ​ | Director                 |
|             | ​ | Cadbury Nigeria Plc             | ​ | Food and Beverage               | ​ | Director                 |
|             | ​ | Digital Jewels Limited          | ​ | Consulting                      | ​ | Director                 |
| Natara Holloway  | ​ | National Football League        | ​ | Sports and Entertainment        | ​ | Vice President           |

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|  | • | each person known by us to be the beneficial owner of more than 5% of our issued and outstanding ordinary shares; |
|--|---------|------------------------------------------------------------------------------------------------------------------------|
|  | • | each of our directors and officers; and |
|--|---------|----------------------------------------------|
|  | • | all our directors and officers as a group. |
|--|---------|--------------------------------------------|
|                                                       |   | Class A Ordinary Shares |      |   | Class B Ordinary Shares (1)                                         |           |
|-------------------------------------------------------|--------|-------------------------|-----------|--------|---------------------------------------------------------------------|----------------|
| Name and Address ofBeneficial Owner (2)               |   | BeneficiallyOwned       |      |   | ApproximatePercentage ofClass AOrdinary SharesIssued andOutstanding |           |   | Beneficially Owned |   |   | ApproximatePercentage ofIssued andOutstandingOrdinary Shares |   |
| Directors and Officers                                |   |                    |      |   |                                                                |           |   |   |   |   |   |   |
| Jide Zeitlin (3)                                      |   |                    | —   |   |                                                                |           | — |   |   |   | — |   |   |   | — |   |
| Lew Frankfort (3)                                     |   |                    | —   |   |                                                                |           | — |   |   |   | — |   |   |   | — |   |
| Charles McGuigan (3)                                  |   |                    | —   |   |                                                                |           | — |   |   |   | — |   |   |   | — |   |
| Thomas Northover (3)                                  |   |                    | —   |   |                                                                |           |   |   |   |   | — |   |   |   | — |   |
| Ibukun Awosika                                        |   |                    | —   |   |                                                                |           | — |   |   |   | 40,000 |   |   |   | * |   |
| Natara Holloway                                       |   |                    | —   |   |                                                                |           | — |   |   |   | 40,000 |   |   |   | * |   |
| All officers and directors as a group (6 individuals) |   |                    | —   |   |                                                                |           | — |   |   |   | 80,000 |   |   |   | * |   |
| Other 5% Holders                                      |   |                    |      |   |                                                                |           |   |   |   |   |   |   |   |   |   |   |
| bleuacacia sponsor LLC (4)                            |   |                    | —   |   |                                                                | —​ |   |   |   | 6,820,000 |   |   |   | 19.8 | % |
| Saba Capital Management, L.P.(5)                      |   |                    | 2,475,000 |   |                                                                |           | 9.0 | % |   |   | — |   |   |   | 7.2 | % |
| * | Less than one percent. |
|---|------------------------|
| (1) | Class B ordinary shares will automatically convert into Class A ordinary shares concurrently with or immediately following the consummation of              our initial business combination on a one-for-one basis, subject to adjustment. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2) | Unless otherwise noted, the business address of each of the following is 500 Fifth Avenue New York, NY. |
|-----|---------------------------------------------------------------------------------------------------------|
| (3) | Does not include any shares indirectly owned by this individual as a result of his or her partnership interest in our sponsor or its affiliates. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------|
| (4) | Jide Zeitlin and at least three other individuals each have voting and dispositive power over the shares owned by bleuacacia sponsor LLC. Under              the so-called “rule of three,” if voting and dispositive decisions regarding an entity’s securities are made by three or more individuals, and a voting or dispositive decision requires the approval of a majority of those individuals, then              none of the individuals is deemed a beneficial owner of the entity’s securities. Based upon the foregoing analysis, the aforementioned individuals do not exercise voting or dispositive control over any of the securities held by bleuacacia              sponsor LLC, even those in which such person directly holds a pecuniary interest. Accordingly, none of them will be deemed to have or share beneficial ownership of such shares. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (5) | According to a Schedule 13G/A filed with the SEC on February 14, 2022 on behalf of Saba Capital Management, L.P., a Delaware limited partnership              (“Saba Capital”), Saba Capital Management GP, LLC, a Delaware limited liability company (“Saba GP”), and Mr. Boaz R. Weinstein (“Mr. Weinstein”). Each may be deemed the beneficial owner of 2,475,000 shares of the Company’s Class A ordinary              shares. The principal business address for each is 405 Lexington Avenue, 58th Floor, New York, New York 10174. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| (1) | Financial Statements: |
|-----|-----------------------|

| (2) | Financial Statement Schedules: |
|-----|--------------------------------|

| (3) | Index to Exhibits: |
|-----|--------------------|

| Exhibit No. |  | Description of Exhibit                                                                                                                                     |
|-------------|--|------------------------------------------------------------------------------------------------------------------------------------------------------------|
|             |  |                                                                                                                                                            |
| 3.1(1)      |  | Amended and Restated Memorandum and Articles of Association                                                                                                |
|        |  |                                                                                                                                                       |
| 4.1(1)      |  | Public Warrant Agreement, dated November 17, 2021, by and between the Company and Continental Stock Transfer & Trust Company, as warrant agent.        |
|        |  |                                                                                                                                                       |
| 4.2(1)      |  | Private Warrant Agreement, dated November 17, 2021, by and between the Company and Continental Stock Transfer & Trust Company, as warrant agent.       |
|        |  |                                                                                                                                                       |
| 4.3(1)      |  | Rights Agreement, dated November 17, 2021, by and between the Company and Continental Stock Transfer & Trust Company, as rights agent.                 |
|        |  |                                                                                                                                                       |
| 4.4*        |  | Description of Securities                                                                                                                                  |
|        |  |                                                                                                                                                       |
| 10.1(1)     |  | Letter Agreement, dated November 17, 2021, by and among the Company, its officers, directors and senior advisors and bleuacacia sponsor LLC.               |
|        |  |                                                                                                                                                       |
| 10.2(1)     |  | Investment Management Trust Agreement, dated November 17, 2021, by and between the Company and Continental Stock Transfer & Trust Company, as trustee. |
|        |  |                                                                                                                                                       |
| 10.3(1)     |  | Registration Rights Agreement, dated November 17, 2021, by and among the Company, bleuacacia sponsor LLC and the other parties thereto.                    |
|        |  |                                                                                                                                                       |
| 10.4(1)     |  | Sponsor Warrants Purchase Agreement, dated November 17, 2021, by and between the Company and bleuacacia sponsor LLC.                                       |
|        |  |                                                                                                                                                       |
| 10.5(1)     |  | Administrative Services Agreement, dated November 17, 2021, by and between the Company and bleuacacia sponsor LLC.                                         |
|        |  |                                                                                                                                                       |
| 10.6(1)     |  | Form of Indemnity Agreement                                                                                                                                |
|             |  |                                                                                                                                                            |
| 10.7*       |  | Convertible Promissory Note, dated April 1, 2022, between the Company and bleuacacia sponsor LLC                                                           |
|             |  |                                                                                                                                                            |
| 31.1*       |  | Certification of Jide Zeitlin, Co-Chief Executive Officer of the Company pursuant to Section 302 of the Sarbanes-Oxley Act of 2002                         |
|        |  |                                                                                                                                                       |
| 31.2*       |  | Certification of Lew Frankfort, Co-Chief Executive Officer of the Company pursuant to Section 302 of the Sarbanes-Oxley Act of 2002                        |

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 Table of Contents

| 31.3*  |  | Certification of Thomas Northover, Executive Director of the Company pursuant to Section 302 of the Sarbanes-Oxley Act of 2002                                                                  |
|--------|--|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |  |                                                                                                                                                                                            |
| 32.1** |  | Certification of Jide Zeitlin, Co-Chief Executive Officer of the Company pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906              of the Sarbanes-Oxley Act of 2002  |
|   |  |                                                                                                                                                                                            |
| 32.2** |  | Certification of Lew Frankfort, Co-Chief Executive Officer of the Company pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906              of the Sarbanes-Oxley Act of 2002 |
|   |  |                                                                                                                                                                                            |
| 32.3** |  | Certification of Thomas Northover, Executive Director of the Company pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of              the Sarbanes-Oxley Act of 2002      |

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| * | Filed herewith. |
|---|-----------------|

| ** | Furnished herewith. |
|----|---------------------|

| (1) | Incorporated by reference to the Company’s Current Report on Form 8-K filed on November 22, 2021. |
|-----|---------------------------------------------------------------------------------------------------------|

| Item 16. | Form 10-K Summary |
|----------|-------------------|

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 Table of Contents

|                     | BLEUACACIA LTD |
|---------------------|----------------|
|                     |                |
| Date: April 1, 2022 | By:            | /s/ Jide Zeitlin |
|                     |                | Name: | Jide Zeitlin |
|                |                | Title: | Co-Chief Executive Officer |
| Name                 | ​ | Position                                                                              | ​ | Date                |
|----------------------|---------|---------------------------------------------------------------------------------------|---------|---------------------|
|                 | ​ |                                                                                  | ​ |                |
| /s/ Jide Zeitlin     | ​ | Co-Chairman of the Board and Co-Chief Executive Officer (Principal Executive Officer) | ​ | April 1, 2022       |
| Jide Zeitlin         | ​ |
|                 | ​ |                                                                                  | ​ |                |
| /s/ Lew Frankfort    | ​ | Co-Chairman of the Board and Co-Chief Executive Officer (Principal Executive Officer) | ​ | April 1, 2022       |
| Lew Frankfort        | ​ |
|                 |    |                                                                                  |    |                |
| /s/ Charles McGuigan | ​ | Chief Operating Officer, President and Director                                       | ​ | April 1, 2022       |
| Charles McGuigan     | ​ |
|                 |    |                                                                                  |    |                |
| /s/ Thomas Northover | ​ | Executive Director (Principal Financial and Accounting Officer)                  | ​ | April 1, 2022       |
| Thomas Northover     | ​ |
|                 |    |                                                                                  |    |                |
| /s/ Ibukun Awosika   | ​ | Director                                                                              | ​ |  April 1, 2022 |
| Ibukun Awosika       | ​ |
|                 |    |                                                                                  |    |                |
| /s/ Natara Holloway  | ​ | Director                                                                              | ​ |  April 1, 2022 |
| Natara Holloway      | ​ |

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