Financial Position - As of September 30, 2025, the company had $1,045,403 in cash and working capital of $1,061,429[110]. - The company has no long-term debt or capital lease obligations as of September 30, 2025, and has a Deferred Fee of $7,043,750 payable to underwriters only if a Business Combination is completed[135]. - The company lacks sufficient financial resources to sustain operations for a reasonable period, raising substantial doubt about its ability to continue as a going concern[134]. Income and Expenses - The company generated net income of $1,879,085 for the three months ended September 30, 2025, primarily from $2,106,133 earned on cash and marketable securities held in the Trust Account[120]. - The company incurred total expenses of $194,790 for formation, general, and administrative activities from inception through September 30, 2025[121]. - The company has incurred $15,500 and $17,833 in administrative services fees for the three months ended September 30, 2025, and the period from inception through September 30, 2025, respectively[136]. Fundraising Activities - The company raised gross proceeds of $201,250,000 from the Initial Public Offering of 20,125,000 Public Units at $10.00 per Unit[115]. - A total of $201,250,000 from the Initial Public Offering and Private Placement was placed in a U.S.-based trust account, with funds held in cash or invested in U.S. government treasury obligations[125]. - The company completed a private placement of 592,250 Private Placement Units at a price of $10.00 per Unit, generating gross proceeds of $5,922,500[124]. Business Combination and Future Plans - The company expects to incur significant costs in the pursuit of its initial Business Combination, with no assurance of success in raising capital[110]. - The company may seek to extend the Combination Period, which would require approval from Public Shareholders[111]. - The company expects primary liquidity requirements during the first twelve months of the Combination Period to total approximately $1,225,000, including $225,000 for legal and accounting expenses, $200,000 for regulatory reporting, and $400,000 for directors' and officers' liability insurance[130]. - The company may need to obtain additional financing to complete its initial Business Combination if the cash required exceeds the proceeds from the Trust Account or if a significant number of Public Shares are redeemed[132]. - The company may issue additional securities or incur debt in connection with the Business Combination if required cash exceeds available funds[132]. Operational Status - The company has not engaged in any operations or generated revenues to date, with activities focused on the Initial Public Offering and identifying acquisition candidates[119]. - The company has entered into an agreement to pay $5,000 per month for office space and administrative support, which will cease upon completion of the initial Business Combination[136]. Accounting and Compliance - The company has not identified any critical accounting estimates as of September 30, 2025[140]. - The company is currently assessing the impact of ASU 2023-09 on its financial position and operations, which requires additional disclosures related to income tax rate reconciliations[142]. Related Party Transactions - The company had borrowed $193,236 through June 16, 2025, and repaid $203,557 to the Sponsor, resulting in an overpayment recorded as a related party receivable[116]. - The company has borrowed $193,236 under the IPO Promissory Note and repaid $203,557 to the Sponsor, resulting in an overpayment of $10,321 recorded as a related party receivable[137].

PART I – FINANCIAL INFORMATION [Item 1. Financial Statements.](index=7&type=section&id=Item%201.%20Financial%20Statements.) This section presents the unaudited condensed financial statements of Blue Acquisition Corp. as of June 30, 2025, and for the periods ended June 30, 2025, along with accompanying notes. The financial statements reflect the company's status as a Special Purpose Acquisition Company (SPAC) focused on its formation, Initial Public Offering (IPO), and the management of funds in its Trust Account [Unaudited Condensed Balance Sheet](index=7&type=section&id=Unaudited%20Condensed%20Balance%20Sheet%20as%20of%20June%2030,%202025) This statement presents the company's financial position, including assets, liabilities, and shareholders' deficit, as of June 30, 2025 | Indicator | Amount (USD) | | :------------------------------------------ | :------------- | | **Assets:** | | | Total Current Assets | $1,327,785 | | Cash and marketable securities held in Trust Account | $201,571,137 | | Total Non-current Assets | $201,642,644 | | **TOTAL ASSETS** | **$202,970,429** | | **Liabilities & Shareholders' Deficit:** | | | Total Current Liabilities | $58,212 | | Deferred underwriter fee liability | $7,043,750 | | **TOTAL LIABILITIES** | **$7,101,962** | | Class A ordinary shares subject to possible redemption | $201,571,137 | | Total Shareholders' Deficit | $(5,702,670) | [Unaudited Condensed Statement of Operations](index=8&type=section&id=Unaudited%20Condensed%20Statement%20of%20Operations) This statement outlines the company's revenues, expenses, and net income for the three months and period ended June 30, 2025 | Indicator | Three Months Ended June 30, 2025 (USD) | Period From Inception Through June 30, 2025 (USD) | | :-------------------------------------------------- | :------------------------------------- | :------------------------------------------------ | | Total operating expenses | $76,432 | $138,248 | | Loss from operations | $(76,432) | $(138,248) | | Other income (dividend & interest) | $321,846 | $321,876 | | **Net income** | **$245,414** | **$183,628** | | Basic and diluted net income per share, redeemable Class A ordinary shares | $1.70 | $2.63 | | Basic and diluted net loss per share, non-redeemable Class A and Class B ordinary shares | $(0.76) | $(0.79) | [Unaudited Condensed Statement of Changes in Shareholders' Deficit](index=9&type=section&id=Unaudited%20Condensed%20Statement%20of%20Changes%20in%20Shareholders'%20Deficit) This statement details the changes in the company's shareholders' deficit from inception through June 30, 2025 | Item | Amount (USD) | | :------------------------------------------------- | :------------- | | Balance – February 10, 2025 (inception) | $0 | | Class B ordinary shares issued to Sponsor | $707 | | Contribution for purchase of private placement units | $100,000 | | Net loss (as of March 31, 2025) | $(61,786) | | Balance as of March 31, 2025 | $63,214 | | Issuance of Class A ordinary shares in IPO | $4,361,306 | | Sale of private placement units | $5,822,500 | | Sale of representative shares | $1,750,000 | | Remeasurement of Class A ordinary shares to redemption value | $(17,945,104) | | Net income (for three months ended June 30, 2025) | $245,414 | | **Balance – June 30, 2025** | **$(5,702,670)** | [Unaudited Condensed Statement of Cash Flows](index=10&type=section&id=Unaudited%20Condensed%20Statement%20of%20Cash%20Flows) This statement summarizes the cash inflows and outflows from operating, investing, and financing activities for the period | Cash Flow Activity | Amount (USD) | | :-------------------------------------------------------------------------------- | :------------- | | Net cash used in operating activities | $(206,745) | | Net cash used in investing activities (Purchase of treasury securities in Trust Account) | $(201,250,000) | | Net cash provided by financing activities | $202,692,177 | | **Net Change in Cash** | **$1,235,432** | | Cash – End of period | $1,235,432 | | **Supplemental Non-Cash Activities:** | | | Initial fair value of Class A ordinary shares subject to possible redemption | $183,626,033 | | Remeasurement of Class A ordinary shares subject to possible redemption | $17,945,104 | [Notes to Unaudited Condensed Financial Statements](index=11&type=section&id=Notes%20to%20Unaudited%20Condensed%20Financial%20Statements) These notes provide additional information and explanations supporting the unaudited condensed financial statements - Blue Acquisition Corp. was incorporated on February 10, 2025, as a Cayman Islands exempted company, operating as a **special purpose acquisition company (SPAC)** to effect a Business Combination[24](index=24&type=chunk) - The company consummated its Initial Public Offering (IPO) on June 16, 2025, selling **20,125,000 units at $10.00 per unit**, generating gross proceeds of **$201,250,000**, including the full exercise of the over-allotment option[26](index=26&type=chunk) - Simultaneously with the IPO, the company completed a private placement of **592,250 units at $10.00 per unit**, generating gross proceeds of **$5,922,500**[27](index=27&type=chunk) - Transaction costs for the IPO and private placement amounted to **$13,262,661**, including a **$7,043,750 deferred underwriting fee**[28](index=28&type=chunk) - An amount of **$201,250,000** from the net proceeds was placed in a Trust Account, to be released upon the completion of a Business Combination, redemption of public shares, or certain amendments to the company's articles of association[31](index=31&type=chunk) [Note 2 — Significant Accounting Policies](index=15&type=section&id=Note%202%20%E2%80%94%20Significant%20Accounting%20Policies) This note outlines the key accounting principles and policies applied in preparing the financial statements - The company is an **"emerging growth company"** and has elected not to opt out of the extended transition period for complying with new or revised financial accounting standards[43](index=43&type=chunk)[44](index=44&type=chunk) - As of June 30, 2025, the company had **$1,235,432 in cash** and **$201,571,137 in marketable securities** held in the Trust Account[47](index=47&type=chunk)[48](index=48&type=chunk) - The fair value of Public Rights was **$4,361,306**, or **$0.23 per Public Right**, as of June 16, 2025, classified within shareholders' equity[54](index=54&type=chunk) - The company is an exempted Cayman Islands company and is **not subject to income taxes** in the Cayman Islands or the United States, resulting in a **zero tax provision** for the period[65](index=65&type=chunk) - Class A ordinary shares subject to possible redemption are presented at a redemption value of **$201,571,137** as temporary equity as of June 30, 2025[66](index=66&type=chunk)[67](index=67&type=chunk) [Note 3 — Initial Public Offering](index=21&type=section&id=Note%203%20%E2%80%94%20Initial%20Public%20Offering) This note details the terms and proceeds of the company's Initial Public Offering completed on June 16, 2025 - On June 16, 2025, the company sold **20,125,000 Units at $10.00 per Unit**, including the full exercise of the underwriters' over-allotment option for **2,625,000 Units**[72](index=72&type=chunk) - Each Unit consists of one Class A ordinary share and one Public Right, with **ten Public Rights entitling the holder to one Class A ordinary share** upon Business Combination[72](index=72&type=chunk) [Note 4 — Private Placement](index=21&type=section&id=Note%204%20%E2%80%94%20Private%20Placement) This note describes the private placement of units conducted concurrently with the Initial Public Offering - Simultaneously with the IPO, **592,250 Private Placement Units** were sold to the Sponsor and underwriters at **$10.00 per unit**, totaling **$5,922,500**[73](index=73&type=chunk) - The Private Placement Units are identical to Public Units, and a portion of the proceeds was added to the Trust Account[73](index=73&type=chunk) [Note 5 — Segment Information](index=21&type=section&id=Note%205%20%E2%80%94%20Segment%20Information) This note clarifies that the company operates as a single reportable segment, with the CFO as the CODM - The company has **one reportable segment**, with the Chief Financial Officer identified as the Chief Operating Decision Maker (CODM)[77](index=77&type=chunk) - The CODM reviews operating loss, dividend income on marketable securities in the Trust Account, cash, and marketable securities in the Trust Account to assess performance and allocate resources[78](index=78&type=chunk)[79](index=79&type=chunk) [Note 6 — Related Party Transactions](index=23&type=section&id=Note%206%20%E2%80%94%20Related%20Party%20Transactions) This note discloses transactions and agreements between the company and its related parties, including the Sponsor - The Sponsor was issued **7,069,913 Class B ordinary shares** (founder shares) for a capital contribution of **$25,000**[80](index=80&type=chunk)[94](index=94&type=chunk) - A promissory note of up to **$300,000** from the Sponsor was repaid in full by June 16, 2025, resulting in a **$10,321 related party receivable** due to overpayment[83](index=83&type=chunk) - The company pays Blue Holdings Management LLC (Sponsor's affiliate) **$5,000 per month** for administrative services, with **$2,333 accrued** as of June 30, 2025[84](index=84&type=chunk) - **No Working Capital Loans** from related parties were outstanding as of June 30, 2025[85](index=85&type=chunk) [Note 7 — Commitments and Contingencies](index=25&type=section&id=Note%207%20%E2%80%94%20Commitments%20and%20Contingencies) This note outlines various risks, contractual obligations, and potential future liabilities of the company - The company's ability to complete a Business Combination faces risks from changes in laws, market downturns, inflation, interest rates, tariffs, supply chain disruptions, public health, and geopolitical instability[86](index=86&type=chunk) - Holders of founder shares, Private Placement Units, Working Capital Loans, and Representative Shares are entitled to **registration rights**[88](index=88&type=chunk) - The underwriters' over-allotment option for **2,625,000 units** was fully exercised on June 16, 2025[89](index=89&type=chunk) - A deferred underwriting discount of **$7,043,750** is payable to the underwriters upon completion of a Business Combination[90](index=90&type=chunk) - **175,000 Representative Shares** were issued to the underwriters/designees, subject to transfer restrictions and waiver of redemption/liquidation rights[91](index=91&type=chunk) [Note 8 — Shareholder's Deficit](index=26&type=section&id=Note%208%20%E2%80%94%20Shareholder's%20Deficit) This note details the authorized and outstanding share capital, including Class A and Class B ordinary shares and share rights - The company is authorized to issue **5,000,000 preference shares** (none outstanding), **500,000,000 Class A ordinary shares** (**767,250 outstanding** excluding redeemable shares), and **50,000,000 Class B ordinary shares** (**7,069,913 outstanding**)[92](index=92&type=chunk)[93](index=93&type=chunk)[94](index=94&type=chunk)[95](index=95&type=chunk) - Class B ordinary shares automatically convert to Class A ordinary shares on a **one-for-one basis** upon Business Combination, subject to adjustment[97](index=97&type=chunk) - Prior to a Business Combination, only Class B ordinary shareholders vote on director appointments/removals and continuation in other jurisdictions[98](index=98&type=chunk) - Each Share Right entitles the holder to **one-tenth (1/10) of one Class A ordinary share** upon consummation of the initial Business Combination[99](index=99&type=chunk) [Note 9 — Fair Value Measurements](index=29&type=section&id=Note%209%20%E2%80%94%20Fair%20Value%20Measurements) This note provides information on the fair value hierarchy applied to the company's marketable securities in the Trust Account - Marketable securities held in the Trust Account, valued at **$201,571,137** as of June 30, 2025, are classified within **Level 1 of the fair value hierarchy**[100](index=100&type=chunk)[101](index=101&type=chunk)[102](index=102&type=chunk) [Note 10 — Subsequent Events](index=29&type=section&id=Note%2010%20%E2%80%94%20Subsequent%20Events) This note reports significant events that occurred after the balance sheet date but before the financial statements were issued - On July 31, 2025, the company announced that holders of Units may elect to separately trade Class A ordinary shares and Share Rights starting **August 4, 2025**[104](index=104&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations.](index=30&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations.) This section provides an overview of Blue Acquisition Corp.'s financial condition and results of operations, emphasizing its status as a blank check company focused on identifying and completing an initial Business Combination. It details recent financial activities, liquidity, and capital resources, while also addressing contractual obligations and recent accounting pronouncements [Overview](index=30&type=section&id=Overview) This section provides a high-level summary of the company's nature as a blank check company and its objective to complete a Business Combination - Blue Acquisition Corp. is a **blank check company** incorporated on February 10, 2025, with the sole purpose of effecting an initial Business Combination[108](index=108&type=chunk) - The company has not yet selected a Business Combination target and intends to use proceeds from its IPO and Private Placement, along with potential additional securities or debt, for the combination[108](index=108&type=chunk) - Issuing additional securities for a Business Combination could dilute existing shareholders, subordinate rights, cause a change in control, or adversely affect market prices[109](index=109&type=chunk) - As of June 30, 2025, the company had **$1,235,432 in cash** and **$1,269,573 in working capital**[110](index=110&type=chunk) - Extending the Combination Period requires Public Shareholder approval and may lead to redemptions, reducing Trust Account funds and potentially affecting Nasdaq listing[111](index=111&type=chunk) [Recent Developments](index=31&type=section&id=Recent%20Developments) This section highlights key financial and corporate events that occurred recently, including IPO and private placement details - The Sponsor deposited an aggregate of **$249,950** into the company's bank account in April and May 2025, accounted for as a capital contribution for Private Placement Units[112](index=112&type=chunk) - In May 2025, a share capitalization resulted in an additional **1,009,988 Class B Ordinary Shares**, bringing the total to **7,069,913 outstanding**[113](index=113&type=chunk) - On June 16, 2025, the IPO of **20,125,000 Public Units** was consummated, generating **$201,250,000**, including the full exercise of the over-allotment option[115](index=115&type=chunk) - **175,000 Representative Shares** were issued to the underwriters/designees in connection with the IPO[116](index=116&type=chunk) - A private sale of **592,250 Private Placement Units** for **$5,922,500** was completed simultaneously with the IPO[117](index=117&type=chunk) - A total of **$201,250,000** from the IPO and Private Placement proceeds was placed in a U.S.-based Trust Account[118](index=118&type=chunk) [Results of Operations](index=32&type=section&id=Results%20of%20Operations) This section analyzes the company's financial performance, focusing on non-operating income and expenses as a SPAC - The company has **not engaged in operations or generated operating revenues** to date, with activities focused on organizational matters and the IPO[119](index=119&type=chunk) | Indicator | Three Months Ended June 30, 2025 (USD) | Period From Inception Through June 30, 2025 (USD) | | :-------------------------------------------------- | :------------------------------------- | :------------------------------------------------ | | Net income | $245,414 | $183,628 | | Dividend income on marketable securities held in Trust Account | $321,137 | $321,137 | | Interest income on operating account | $709 | $739 | | Formation, general and administrative expenses | $53,824 | $115,640 | | Legal and accounting expenses | $16,782 | $16,782 | | Administrative services fee – related party | $2,333 | $2,333 | | Insurance expense | $3,493 | $3,493 | [Liquidity and Capital Resources](index=32&type=section&id=Liquidity%20and%20Capital%20Resources) This section discusses the company's sources and uses of cash, including funds in the Trust Account and estimated liquidity requirements - Prior to the IPO, liquidity was met through a **$25,000 payment** from the Sponsor for Founder Shares and **$300,000 in loans** from the Sponsor[122](index=122&type=chunk) - Following the IPO and Private Placement, **$201,250,000** was placed in the Trust Account[125](index=125&type=chunk) - As of June 30, 2025, the company had **$1,235,432 of cash** held outside the Trust Account, intended for identifying and evaluating target businesses, due diligence, and transaction costs[127](index=127&type=chunk) - The Sponsor or affiliates may provide Working Capital Loans, up to **$1,500,000** convertible into private placement units, but **no such loans were outstanding** as of June 30, 2025[129](index=129&type=chunk) Estimated Primary Liquidity Requirements (First 12 Months of Combination Period) | Expense Category | Estimated Amount (USD) | | :-------------------------------------------------------------------------------- | :--------------------- | | Legal, accounting, due diligence, travel for business combinations | ~$225,000 | | Legal and accounting fees for regulatory reporting | ~$200,000 | | Nasdaq and other regulatory fees | ~$85,000 | | Office space and administrative services | ~$60,000 | | Directors' and officers' liability insurance | ~$400,000 | | General working capital (miscellaneous expenses and reserves) | ~$180,000 | [Off-Balance Sheet Arrangements](index=34&type=section&id=Off-Balance%20Sheet%20Arrangements) This section confirms the absence of any off-balance sheet arrangements as of the reporting date - As of June 30, 2025, the company did **not have any off-balance sheet arrangements**[133](index=133&type=chunk) [Contractual Obligations](index=34&type=section&id=Contractual%20Obligations) This section details the company's financial commitments, including deferred underwriting fees and administrative service agreements - The company has **no long-term debt, capital lease obligations, operating lease obligations, or long-term liabilities** as of June 30, 2025[134](index=134&type=chunk) - A deferred underwriting fee of **$7,043,750** is payable to the underwriters upon completion of a Business Combination[134](index=134&type=chunk) - The company has an agreement to pay **$5,000 per month** for administrative services to an affiliate of its Sponsor[135](index=135&type=chunk) - The IPO Promissory Note from the Sponsor, totaling **$193,236**, was repaid in full on June 16, 2025, resulting in a **$10,321 related party receivable**[136](index=136&type=chunk) [Commitments and Contingencies](index=35&type=section&id=Commitments%20and%20Contingencies) This section outlines various obligations and potential future events that could impact the company's financial position - Holders of Founder Shares, Private Placement Units, Working Capital Loans, Representative Shares, and certain Class A Ordinary Shares are entitled to **registration rights**[138](index=138&type=chunk) [Critical Accounting Estimates](index=36&type=section&id=Critical%20Accounting%20Estimates) This section states that the company has not identified any critical accounting estimates for the reporting period - The company has **not identified any critical accounting estimates** as of June 30, 2025[139](index=139&type=chunk) [Recent Accounting Pronouncements](index=36&type=section&id=Recent%20Accounting%20Pronouncements) This section discusses the adoption and assessment of new accounting standards relevant to the company - The company adopted **ASU 2023-07, "Segment reporting (Topic 280): Improvements to Reportable Segment Disclosures,"** on February 10, 2025 (inception)[140](index=140&type=chunk) - The company is currently assessing the impact of **ASU 2023-09, "Improvements to Income Tax Disclosures,"** which is effective for fiscal years beginning after December 15, 2024[141](index=141&type=chunk) [Item 3. Quantitative and Qualitative Disclosures Regarding Market Risk.](index=36&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20Regarding%20Market%20Risk.) As a smaller reporting company, Blue Acquisition Corp. is exempt from providing specific quantitative and qualitative disclosures regarding market risk in this report - The company is a **smaller reporting company** and is not required to provide quantitative and qualitative disclosures regarding market risk[142](index=142&type=chunk) [Item 4. Controls and Procedures.](index=36&type=section&id=Item%204.%20Controls%20and%20Procedures.) This section addresses the effectiveness of Blue Acquisition Corp.'s disclosure controls and procedures, noting a material weakness in internal controls over financial reporting as of June 30, 2025, and outlining remediation plans [Evaluation of Disclosure Controls and Procedures](index=36&type=section&id=Evaluation%20of%20Disclosure%20Controls%20and%20Procedures) This section evaluates the effectiveness of the company's disclosure controls and procedures, identifying a material weakness and planned remediation - The Certifying Officers concluded that the company's disclosure controls and procedures were **not effective** as of June 30, 2025[143](index=143&type=chunk) - A **material weakness in internal controls over financial reporting** was identified due to a lack of properly designed, implemented, and effectively operating controls[144](index=144&type=chunk) - Management plans to implement a remediation plan, including designing a formal control environment, accounting policies, procedures, and enhancing processes for complex accounting standards, potentially using third-party professionals[144](index=144&type=chunk) [Changes in Internal Control over Financial Reporting](index=37&type=section&id=Changes%20in%20Internal%20Control%20over%20Financial%20Reporting) This section confirms that no changes in internal control over financial reporting occurred during the period - **No changes in internal control over financial reporting** were applicable for the period[147](index=147&type=chunk) PART II – OTHER INFORMATION [Item 1. Legal Proceedings.](index=38&type=section&id=Item%201.%20Legal%20Proceedings.) To the knowledge of management, there is no material litigation currently pending against Blue Acquisition Corp. or its officers and directors - **No material litigation** is currently pending against the company or its officers/directors[149](index=149&type=chunk) [Item 1A. Risk Factors.](index=38&type=section&id=Item%201A.%20Risk%20Factors.) As a smaller reporting company, Blue Acquisition Corp. highlights key risks, including a material weakness in internal control over financial reporting, potential adverse effects from changes in international trade policies, and risks associated with extending the Business Combination Period and the post-combination share price - A **material weakness in internal controls over financial reporting** was identified as of June 30, 2025, posing a risk to accurate and timely financial reporting[151](index=151&type=chunk)[152](index=152&type=chunk) - Changes in international trade policies, tariffs, and treaties may adversely affect the search for a Business Combination target or the performance of a post-Business Combination company[153](index=153&type=chunk)[155](index=155&type=chunk)[156](index=156&type=chunk) - Seeking to extend the Combination Period could reduce funds in the Trust Account due to redemptions and potentially affect Nasdaq listing[157](index=157&type=chunk) - There is **no assurance that the share price** of the post-Business Combination company will be greater than the Redemption Price, which was approximately **$10.02 per Public Share** as of June 30, 2025[158](index=158&type=chunk)[159](index=159&type=chunk) - Certain agreements related to the IPO may be amended or waived without shareholder approval, potentially benefiting Initial Shareholders, the Sponsor, officers, and/or directors[160](index=160&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.](index=40&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds.) This section confirms no unregistered sales of equity securities during the quarter and states that the planned use of proceeds from the IPO and Private Placement remains materially unchanged [Unregistered Sales of Equity Securities](index=40&type=section&id=Unregistered%20Sales%20of%20Equity%20Securities) This section confirms that no unregistered equity securities were sold during the reporting quarter - There were **no sales of unregistered securities** during the quarterly period[161](index=161&type=chunk) [Use of Proceeds](index=40&type=section&id=Use%20of%20Proceeds) This section affirms that the planned allocation of funds from the IPO and private placement remains consistent with prior disclosures - There has been **no material change in the planned use of proceeds** from the Initial Public Offering and Private Placement as described in the IPO Registration Statement[163](index=163&type=chunk) [Purchases of Equity Securities by the Issuer and Affiliated Purchasers](index=40&type=section&id=Purchases%20of%20Equity%20Securities%20by%20the%20Issuer%20and%20Affiliated%20Purchasers) This section confirms no equity securities were purchased by the issuer or its affiliates - There were **no purchases of equity securities** by the issuer or affiliated purchasers[164](index=164&type=chunk) [Item 3. Defaults Upon Senior Securities.](index=40&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities.) Blue Acquisition Corp. reported no defaults upon senior securities during the period - **No defaults upon senior securities** were reported[165](index=165&type=chunk) [Item 4. Mine Safety Disclosures.](index=40&type=section&id=Item%204.%20Mine%20Safety%20Disclosures.) This item is not applicable to Blue Acquisition Corp - Mine Safety Disclosures are **not applicable** to the company[166](index=166&type=chunk) [Item 5. Other Information.](index=40&type=section&id=Item%205.%20Other%20Information.) This section confirms no Rule 10b5-1 or non-Rule 10b5-1 trading arrangements were adopted or terminated by directors or officers during the quarter, and no additional information is provided [Trading Arrangements](index=40&type=section&id=Trading%20Arrangements) This section confirms that no Rule 10b5-1 or non-Rule 10b5-1 trading arrangements were adopted or terminated by directors or officers - None of the directors or officers adopted or terminated any **"Rule 10b5-1 trading arrangement"** or **"non-Rule 10b5-1 trading arrangement"** during the quarter ended June 30, 2025[167](index=167&type=chunk) [Additional Information](index=40&type=section&id=Additional%20Information) This section indicates that no further information is provided beyond the specified disclosures - **No additional information** is provided in this section[168](index=168&type=chunk) [Item 6. Exhibits.](index=41&type=section&id=Item%206.%20Exhibits.) This section lists all exhibits filed as part of, or incorporated by reference into, the Quarterly Report on Form 10-Q, including certifications and XBRL documents - Exhibits include certifications from the Principal Executive Officer and Principal Financial Officer (**31.1, 31.2, 32.1, 32.2**) and Inline XBRL Instance Document and Taxonomy Extensions (**101.INS, 101.SCH, 101.CAL, 101.DEF, 101.LAB, 101.PRE, 104**)[169](index=169&type=chunk) [SIGNATURES](index=42&type=section&id=SIGNATURES) This section provides the official signatures of the company's executive officers, certifying the report - The report was signed on **August 12, 2025**, by Ketan Seth, Chief Executive Officer, and David Bauer, Chief Financial Officer[172](index=172&type=chunk)

[PART I – FINANCIAL INFORMATION](index=7&type=section&id=PART%20I%20%E2%80%93%20FINANCIAL%20INFORMATION) This section provides the unaudited financial statements and management's analysis for Blue Acquisition Corp [Item 1. Financial Statements.](index=7&type=section&id=Item%201.%20Financial%20Statements.) This section presents Blue Acquisition Corp.'s unaudited condensed financial statements and notes for the period ending March 31, 2025 [Unaudited Condensed Balance Sheet as of March 31, 2025](index=7&type=section&id=Unaudited%20Condensed%20Balance%20Sheet%20as%20of%20March%2031%2C%202025) This table presents the company's financial position, including assets, liabilities, and equity, as of March 31, 2025 Balance Sheet Summary as of March 31, 2025 | ASSETS | Amount ($) | | :--- | :--- | | Cash | $70,030 | | Prepaid expenses | $25,000 | | Deferred offering costs | $82,900 | | **Total Assets** | **$177,930** | | LIABILITIES AND SHAREHOLDER'S EQUITY | | | Liabilities: | | | Accounts payable | $19,527 | | Accrued expenses | $11,200 | | Accrued offering costs | $57,900 | | Promissory note – related party | $26,089 | | **Total Liabilities** | **$114,716** | | Shareholder's Equity: | | | Class B ordinary shares | $707 | | Additional paid-in capital | $124,293 | | Accumulated deficit | ($61,786) | | **Total shareholder's equity** | **$63,214** | | **Total Liabilities and Shareholder's Equity** | **$177,930** | [Unaudited Condensed Statement of Operations for the period from February 10, 2025 (Inception) through March 31, 2025](index=8&type=section&id=Unaudited%20Condensed%20Statement%20of%20Operations%20for%20the%20period%20from%20February%2010%2C%202025%20%28Inception%29%20through%20March%2031%2C%202025) This statement details the company's operating results, including net loss, from inception through March 31, 2025 Statement of Operations Summary (Feb 10, 2025 - Mar 31, 2025) | Operating expenses: | Amount ($) | | :--- | :--- | | Formation and general and administrative costs | $61,816 | | Operating loss | ($61,816) | | Other income: | | | Interest income from operating account | $30 | | Other income | $30 | | Net loss | ($61,786) | | Basic and diluted weighted average Class B ordinary shares outstanding | 6,147,750 | | Basic and diluted net loss per Class B ordinary share | ($0.01) | [Unaudited Condensed Statement of Changes in Shareholders' Equity for the period from February 10, 2025 (Inception) through March 31, 2025](index=9&type=section&id=Unaudited%20Condensed%20Statement%20of%20Changes%20in%20Shareholders%27%20Equity%20for%20the%20period%20from%20February%2010%2C%202025%20%28Inception%29%20through%20March%2031%2C%202025) This statement outlines changes in shareholder's equity from inception through March 31, 2025 Statement of Changes in Shareholders' Equity Summary (Feb 10, 2025 - Mar 31, 2025) | | Class B Ordinary shares | | Additional Paid-In Capital | Accumulated Deficit | Shareholder's Equity | | :--- | :--- | :--- | :--- | :--- | :--- | | Balance as of February 10, 2025 (inception) | — | $ — | $ — | $ — | $ — | | Class B ordinary shares issued to Sponsor | 7,069,913 | $ 707 | $ 24,293 | $ — | $ 25,000 | | Contribution for purchase of private placement units | — | $ — | $ 100,000 | $ — | $ 100,000 | | Net loss | — | $ — | $ — | $ (61,786) | $ (61,786) | | Balance as of March 31, 2025 | 7,069,913 | $ 707 | $ 124,293 | $ (61,786) | $ 63,214 | [Unaudited Condensed Statement of Cash Flows for the period from February 10, 2025 (Inception) through March 31, 2025](index=10&type=section&id=Unaudited%20Condensed%20Statement%20of%20Cash%20Flows%20for%20the%20period%20from%20February%2010%2C%202025%20%28Inception%29%20through%20March%2031%2C%202025) This statement summarizes cash flows from operating and financing activities from inception through March 31, 2025 Statement of Cash Flows Summary (Feb 10, 2025 - Mar 31, 2025) | Cash flows from operating activities: | Amount ($) | | :--- | :--- | | Net loss | $ (61,786) | | Adjustments to reconcile net loss to net cash used in operating activities: | | | Formation, general and administrative expenses paid by Sponsor under promissory note – related party | $ 1,089 | | Changes in operating assets and liabilities: | | | Accounts payable | $ 19,527 | | Accrued expenses | $ 11,200 | | Net cash used in operating activities | $ (29,970) | | Cash flows from financing activities: | | | Contribution for purchase of private placement units | $ 100,000 | | Net cash provided by financing activities | $ 100,000 | | Net change in cash | $ 70,030 | | Cash, beginning of the period | $ — | | Cash, end of the period | $ 70,030 | | Supplemental disclosure of noncash investing and financing activities: | | | Prepaid expenses paid by Sponsor in exchange for issuance of Class B ordinary shares | $ 25,000 | | Deferred offering costs paid by Sponsor under promissory note – related party | $ 25,000 | | Deferred offering costs included in accrued offering costs | $ 57,900 | [Notes to Unaudited Condensed Financial Statements](index=11&type=section&id=Notes%20to%20Unaudited%20Condensed%20Financial%20Statements) This section provides detailed explanations and disclosures supporting the unaudited condensed financial statements [Note 1 — Organization and Business Operations](index=11&type=section&id=Note%201%20%E2%80%94%20Organization%20and%20Business%20Operations) This note details the company's SPAC formation, pre-operational status, IPO financing reliance, and going concern uncertainties - The Company was incorporated on **February 10, 2025**, as a special purpose acquisition company (SPAC) for the purpose of effecting a Business Combination[24](index=24&type=chunk) - As of **March 31, 2025**, the Company had not commenced any operations, with all activity related to its formation and the Initial Public Offering[25](index=25&type=chunk) - The Company had **$70,030 cash** and a working capital deficiency of **$19,686** as of **March 31, 2025**, raising substantial doubt about its ability to continue as a going concern[34](index=34&type=chunk) [Note 2 — Significant Accounting Policies](index=15&type=section&id=Note%202%20%E2%80%94%20Significant%20Accounting%20Policies) This note details the company's significant accounting policies, including GAAP, EGC status, deferred offering costs, and income tax - The Company is an 'emerging growth company' and has elected not to opt out of the extended transition period for complying with new or revised financial accounting standards[41](index=41&type=chunk)[42](index=42&type=chunk) - Deferred offering costs are professional and registration fees related to the IPO, which will be charged to shareholder's equity upon successful completion of the offering or to operations if unsuccessful[48](index=48&type=chunk) - The Company is considered an exempted Cayman Islands company and is not subject to income taxes in the Cayman Islands or the United States, resulting in a **zero tax provision** for the period[57](index=57&type=chunk) [Note 3 — Initial Public Offering](index=19&type=section&id=Note%203%20%E2%80%94%20Initial%20Public%20Offering) This note details the company's Initial Public Offering on June 16, 2025, including units sold, price, and gross proceeds - The Company consummated its Initial Public Offering on **June 16, 2025**, selling **20,125,000 Units**[64](index=64&type=chunk) IPO Details | IPO Details | | | :--- | :--- | | Units Sold | 20,125,000 | | Price Per Unit | $10.00 | | Gross Proceeds | $201,250,000 | [Note 4 — Private Placement](index=19&type=section&id=Note%204%20%E2%80%94%20Private%20Placement) This note describes the simultaneous private placement of 592,250 units to the Sponsor and underwriters, generating $5,922,500 - The Company completed the private sale of **592,250 Private Placement Units** to the Sponsor and underwriters on **June 16, 2025**[66](index=66&type=chunk) Private Placement Details | Private Placement Details | | | :--- | :--- | | Units Sold | 592,250 | | Price Per Unit | $10.00 | | Aggregate Purchase Price | $5,922,500 | | Purchasers | Sponsor, BTIG, Roberts & Ryan | [Note 5 — Segment Information](index=19&type=section&id=Note%205%20%E2%80%94%20Segment%20Information) This note confirms the company operates as a single reportable segment, with the CFO as CODM, reviewing overall operating results - The Company operates as a **single reportable segment**, with the Chief Financial Officer identified as the chief operating decision maker (CODM)[68](index=68&type=chunk) - The CODM assesses performance and allocates resources based on net income or loss and total assets, reviewing formation, general, and administrative costs, cash, liquid resources, and deferred costs[69](index=69&type=chunk)[72](index=72&type=chunk)[73](index=73&type=chunk) [Note 6 — Related Party Transactions](index=21&type=section&id=Note%206%20%E2%80%94%20Related%20Party%20Transactions) This note outlines related party transactions, including founder share issuance, promissory notes, and administrative service agreements - The Sponsor received **7,069,913 Class B ordinary shares** (founder shares) for a **$25,000 capital contribution**, with up to **922,163 shares** subject to forfeiture[74](index=74&type=chunk) - The Sponsor loaned the Company up to **$300,000** via a non-interest bearing promissory note for IPO expenses, with **$26,089** borrowed as of **March 31, 2025**, and fully repaid by **June 16, 2025**[76](index=76&type=chunk)[79](index=79&type=chunk) - The Company entered into an Administrative Services Agreement to pay Blue Holdings Management LLC **$5,000 per month** for office space and administrative support, commencing on the IPO effective date[80](index=80&type=chunk) [Note 7 — Commitments and Contingencies](index=23&type=section&id=Note%207%20%E2%80%94%20Commitments%20and%20Contingencies) This note details commitments and contingencies, including business combination risks, registration rights, and underwriting fees - The Company's ability to complete an initial Business Combination may be adversely affected by various factors beyond its control, such as changes in laws, economic conditions, and geopolitical instability[82](index=82&type=chunk) - The underwriters were entitled to a cash underwriting discount of **$4,025,000** and a deferred underwriting discount of **$7,043,750**, payable upon completion of an initial business combination[86](index=86&type=chunk)[87](index=87&type=chunk) - The Company issued **175,000 Representative Shares** to the underwriters, which are subject to transfer restrictions and waivers of redemption/liquidation rights[88](index=88&type=chunk)[89](index=89&type=chunk) [Note 8 — Shareholder's Equity](index=24&type=section&id=Note%208%20%E2%80%94%20Shareholder%27s%20Equity) This note describes the company's authorized and issued share capital, including Class B ordinary shares and their conversion terms - As of **March 31, 2025**, there were no Preferred or Class A Ordinary Shares issued or outstanding[90](index=90&type=chunk)[91](index=91&type=chunk) - **7,069,913 Class B ordinary shares** (founder shares) were issued and outstanding to the Sponsor as of **March 31, 2025**, following a share capitalization in **May 2025**[92](index=92&type=chunk) - Class B ordinary shares automatically convert into Class A ordinary shares upon consummation of the initial Business Combination, subject to adjustment, and holders of Class B shares have exclusive voting rights on director appointments and jurisdiction changes prior to the Business Combination[95](index=95&type=chunk)[96](index=96&type=chunk) [Note 9 — Subsequent Events](index=26&type=section&id=Note%209%20%E2%80%94%20Subsequent%20Events) This note details post-March 31, 2025 events, including Sponsor contributions, share capitalization, IPO, and private placement - The Sponsor made capital contributions totaling **$249,950** in **April and May 2025**, applied to the purchase of Private Placement Units[101](index=101&type=chunk) - On **June 16, 2025**, the Company consummated its Initial Public Offering of **20,125,000 Units**, generating gross proceeds of **$201,250,000**[103](index=103&type=chunk) - Simultaneously, the Company completed the private sale of **592,250 Private Placement Units** for an aggregate purchase price of **$5,922,500**, with **$201,250,000** from both offerings placed in a trust account[105](index=105&type=chunk)[106](index=106&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations.](index=29&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations.) Management discusses the company's financial condition, operational results, liquidity, capital resources, and accounting policies [Overview](index=29&type=section&id=Overview) This overview describes the company as a blank check entity for a Business Combination, highlighting risks and going concern uncertainties - The Company is a blank check company incorporated on **February 10, 2025**, for the purpose of effecting an initial Business Combination, and has not yet selected a target[110](index=110&type=chunk) - Issuance of additional securities or incurring significant debt for a Business Combination could lead to significant equity dilution, subordination of rights, change in control, and adverse effects on market prices[111](index=111&type=chunk)[116](index=116&type=chunk) - The Company's plans to raise capital or complete its initial Business Combination are not assured, and failure could impact its ability to continue as a going concern[112](index=112&type=chunk) [Recent Developments](index=30&type=section&id=Recent%20Developments) This section details post-March 31, 2025 events, including Sponsor contributions, share capitalization, IPO, and private placement - The Sponsor deposited **$249,950** into the Company's bank account in **April and May 2025**, accounted for as a capital contribution for Private Placement Units[114](index=114&type=chunk) - In **May 2025**, a share capitalization resulted in **7,069,913 Class B Ordinary Shares** outstanding, with up to **922,162 shares** subject to forfeiture[115](index=115&type=chunk) - On **June 16, 2025**, the Company consummated its IPO, selling **20,125,000 Public Units** for **$201,250,000**, and simultaneously completed a private sale of **592,250 Private Placement Units** for **$5,922,500**, with **$201,250,000** placed in a trust account[117](index=117&type=chunk)[119](index=119&type=chunk)[120](index=120&type=chunk) [Results of Operations](index=31&type=section&id=Results%20of%20Operations) This section reviews the company's limited operations and net loss of $61,786 from inception through March 31, 2025 - The Company has not engaged in any operations or generated revenues since inception, with activities focused on organization and IPO preparation[121](index=121&type=chunk) Financial Performance (Feb 10, 2025 - Mar 31, 2025) | Financial Performance (Feb 10, 2025 - Mar 31, 2025) | Amount ($) | | :--- | :--- | | Net Loss | ($61,786) | | Formation, General, and Administrative Expenses | $61,816 | | Interest Income from Operating Account | $30 | - The Company expects increased expenses after the IPO due to public company requirements and due diligence for a Business Combination[121](index=121&type=chunk) [Liquidity and Capital Resources](index=31&type=section&id=Liquidity%20and%20Capital%20Resources) This section discusses the company's pre- and post-IPO liquidity, capital resources, and use of proceeds for operations - Pre-IPO liquidity was satisfied by a **$25,000 Sponsor contribution** and up to **$300,000** in Sponsor loans[123](index=123&type=chunk) - Post-IPO, **$201,250,000** from the IPO and Private Placement was placed in a Trust Account, with remaining proceeds for working capital[126](index=126&type=chunk) - As of **March 31, 2025**, the Company had **$70,030 cash** outside the Trust Account, intended for identifying and evaluating target businesses and other pre-Business Combination activities[128](index=128&type=chunk) [Off-Balance Sheet Arrangements](index=33&type=section&id=Off-Balance%20Sheet%20Arrangements) As of March 31, 2025, the Company did not have any off-balance sheet arrangements as defined by SEC regulations - The Company did not have any off-balance sheet arrangements as of **March 31, 2025**[134](index=134&type=chunk) [Contractual Obligations](index=33&type=section&id=Contractual%20Obligations) This section details the company's contractual obligations, including deferred underwriting fees and administrative service agreements - The Company had no long-term debt, capital lease obligations, operating lease obligations, or long-term liabilities as of **March 31, 2025**[135](index=135&type=chunk) - A deferred underwriting fee of **$7,043,750** is payable to underwriters upon completion of a Business Combination[135](index=135&type=chunk) - The Company pays **$5,000 per month** for administrative services to an affiliate of its Sponsor, and the IPO Promissory Note of **$26,089** (as of **March 31, 2025**) was repaid by **June 16, 2025**[136](index=136&type=chunk)[137](index=137&type=chunk) [Commitments and Contingencies](index=33&type=section&id=Commitments%20and%20Contingencies) Holders of Founder Shares and Private Placement Units are entitled to registration rights, with the Company bearing filing expenses - Holders of Founder Shares, Private Placement Units, and other specified securities are entitled to registration rights, with the Company bearing the expenses for filing registration statements[138](index=138&type=chunk)[139](index=139&type=chunk) [Critical Accounting Estimates](index=35&type=section&id=Critical%20Accounting%20Estimates) The Company had not identified any critical accounting estimates as of March 31, 2025 - The Company had not identified any critical accounting estimates as of **March 31, 2025**[140](index=140&type=chunk) [Recent Accounting Pronouncements](index=35&type=section&id=Recent%20Accounting%20Pronouncements) The Company adopted ASU 2023-07 on February 10, 2025, and is assessing ASU 2023-09, effective after December 15, 2024 - The Company adopted ASU 2023-07, 'Segment reporting (Topic 280): Improvements to Reportable Segment Disclosures,' on **February 10, 2025**[141](index=141&type=chunk) - The Company is currently assessing the impact of ASU 2023-09, 'Improvements to Income Tax Disclosures,' which is effective for fiscal years beginning after **December 15, 2024**[142](index=142&type=chunk) [Item 3. Quantitative and Qualitative Disclosures Regarding Market Risk.](index=35&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20Regarding%20Market%20Risk.) As a smaller reporting company, the Company is exempt from providing quantitative and qualitative market risk disclosures - The Company is a smaller reporting company and is not required to provide quantitative and qualitative disclosures about market risk[143](index=143&type=chunk) [Item 4. Controls and Procedures.](index=35&type=section&id=Item%204.%20Controls%20and%20Procedures.) The company's disclosure controls were ineffective as of March 31, 2025, due to a material weakness, prompting a remediation plan - The Company's disclosure controls and procedures were not effective as of **March 31, 2025**, due to a material weakness in internal controls over financial reporting[144](index=144&type=chunk)[145](index=145&type=chunk) - Management plans to implement a remediation plan, including designing a formal control environment, accounting policies, and enhancing processes for complex accounting applications[145](index=145&type=chunk) - Disclosure controls and procedures provide only reasonable, not absolute, assurance and may not prevent all errors or instances of fraud[146](index=146&type=chunk)[147](index=147&type=chunk) [PART II – OTHER INFORMATION](index=37&type=section&id=PART%20II%20%E2%80%93%20OTHER%20INFORMATION) This section provides additional information, including legal proceedings, risk factors, and equity sales [Item 1. Legal Proceedings.](index=37&type=section&id=Item%201.%20Legal%20Proceedings.) To management's knowledge, no material litigation is pending against the company or its officers and directors - There is no material litigation currently pending against the Company or its officers or directors[150](index=150&type=chunk) [Item 1A. Risk Factors.](index=37&type=section&id=Item%201A.%20Risk%20Factors.) As a smaller reporting company, risk factors are not required, but a material weakness in internal controls is noted - As a smaller reporting company, the Company is not required to include risk factors in this report[151](index=151&type=chunk) - A material weakness in internal controls over financial reporting was identified as of **March 31, 2025**, posing a risk to accurate and timely financial reporting and investor confidence[152](index=152&type=chunk)[153](index=153&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.](index=37&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds.) This section details unregistered sales of Private Placement Units and the use of IPO and private placement proceeds - Simultaneously with the IPO, **592,250 Private Placement Units** were sold to the Sponsor, BTIG, and Roberts & Ryan for **$5,922,500**, exempt from registration under Section 4(a)(2) of the Securities Act[154](index=154&type=chunk) - On **June 16, 2025**, the Company consummated its IPO, selling **20,125,000 Public Units** for gross proceeds of **$201,250,000**[155](index=155&type=chunk) - A total of **$201,250,000** from the IPO and Private Placement was placed in a U.S.-based trust account, with remaining proceeds used for working capital to identify and consummate an initial Business Combination[157](index=157&type=chunk)[158](index=158&type=chunk) [Item 3. Defaults Upon Senior Securities.](index=38&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities.) There were no defaults upon senior securities during the reporting period - There were no defaults upon senior securities[160](index=160&type=chunk) [Item 4. Mine Safety Disclosures.](index=38&type=section&id=Item%204.%20Mine%20Safety%20Disclosures.) Mine safety disclosures are not applicable to the Company - Mine safety disclosures are not applicable[161](index=161&type=chunk) [Item 5. Other Information.](index=38&type=section&id=Item%205.%20Other%20Information.) No Rule 10b5-1 or non-Rule 10b5-1 trading arrangements were adopted or terminated by directors or officers - None of the Company's directors or officers adopted or terminated any Rule 10b5-1 or non-Rule 10b5-1 trading arrangements during the quarter[162](index=162&type=chunk) [Item 6. Exhibits.](index=39&type=section&id=Item%206.%20Exhibits.) This section lists filed exhibits, including promissory notes, subscription agreements, officer certifications, and XBRL documents - The exhibits include promissory notes, securities subscription agreements, certifications of principal executive and financial officers, and XBRL instance and taxonomy documents[164](index=164&type=chunk) [SIGNATURES](index=40&type=section&id=SIGNATURES) This section contains the official signatures of the company's executive officers, certifying the report's accuracy [SIGNATURES](index=40&type=section&id=SIGNATURES) The report was signed on August 4, 2025, by Ketan Seth, Chief Executive Officer, and David Bauer, Chief Financial Officer - The report was signed on **August 4, 2025**, by Ketan Seth, Chief Executive Officer, and David Bauer, Chief Financial Officer[168](index=168&type=chunk)

Group 1 - Blue Acquisition Corp. will allow holders of units from its initial public offering to separately trade Class A ordinary shares and rights starting August 4, 2025 [1] - The Class A ordinary shares will trade under the symbol "BACC" and the rights under "BACCR" on the Nasdaq Global Market, while units not separated will continue to trade under "BACCU" [1] Group 2 - Blue Acquisition Corp. is a blank check company aimed at executing mergers, amalgamations, share exchanges, asset acquisitions, share purchases, reorganizations, or similar business combinations [2] - The company intends to focus on business combination targets within manufacturing or data centers that align with green energy initiatives and sustainable practices, as well as software development in emerging technologies like AI, Cybersecurity, and energy management [2]