BlueRiver Acquisition (BLUA)

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BlueRiver Acquisition (BLUA) - 2024 Q3 - Quarterly Report
2024-11-26 02:53
IPO and Capital Raising - BlueRiver Acquisition Corp. completed its Initial Public Offering (IPO) on February 2, 2021, issuing 28,750,000 units at $10.00 per unit, generating gross proceeds of $287.5 million[174] - Simultaneously with the IPO, the company completed a private placement of 800,000 units at $10.00 per unit, generating gross proceeds of $8.0 million[175] - The underwriters fully exercised the over-allotment option to purchase 3,750,000 additional Units at the Initial Public Offering price, generating significant capital[200] - The underwriters received an underwriting discount of $0.20 per Unit, totaling approximately $5.8 million, with an additional deferred underwriting commission of $0.35 per Unit, amounting to approximately $10.1 million[201] - Goldman Sachs & Co. LLC waived its entitlement to a deferred underwriting fee of $10,062,500, impacting the company's financial obligations[202] Financial Performance and Liquidity - As of August 2, 2024, following shareholder redemptions, approximately $1,033,888 remained in the Trust Account with 91,673 Public Shares outstanding[183] - As of September 30, 2024, the company had $6,035 in cash and a working capital deficit of approximately $8.0 million[188] - For the three months ended September 30, 2024, the company reported a net loss of approximately $110,000, driven by $195,000 in general and administrative expenses and $150,000 in related party expenses, partially offset by $136,000 in investment income[193] - For the nine months ended September 30, 2024, the company reported a net loss of approximately $1.5 million, driven by $2 million in general and administrative expenses and $450,000 in related party expenses, partially offset by $550,000 in investment income[195] - The company's liquidity needs have been met through contributions and loans from the Sponsor, including a $1.5 million promissory note, with $1,500,000 outstanding as of September 30, 2024[189] - Management has raised substantial doubt about the company's ability to continue as a going concern due to liquidity challenges and the mandatory liquidation date of August 2, 2025[191] Business Combination and Agreements - The company entered into a Merger Agreement with Spinal Stabilization Technologies, LLC (SST) on July 21, 2023, but the agreement was terminated on June 28, 2024, with no termination fees[184][185] - The company has no operating revenues and its activities are focused on preparing for and seeking a Business Combination[192] - The company extended the time to consummate an initial business combination through shareholder votes, with the latest extension pushing the deadline to August 2, 2025[212] - The Sponsor entered into Non-Redemption Agreements, committing not to redeem 1,932,000 shares of Class A ordinary shares, with an estimated aggregate fair value of $1,842,346 for 483,000 founder shares[211] Accounting and Reporting - The fair value of the warrants as of September 30, 2024, and December 31, 2023, was determined based on observable listed prices, with potential for significant changes as more current information becomes available[205] - ASU 2024-01 introduces updates to accounting standards, effective for fiscal years beginning after December 15, 2024, with the company currently evaluating its impact on financial statements[213] - The company qualifies as an "emerging growth company" under the JOBS Act, allowing delayed adoption of new or revised accounting standards, potentially affecting financial statement comparability[217] - The company is evaluating the benefits of relying on reduced reporting requirements provided by the JOBS Act, which could exempt it from certain disclosures for up to five years post-IPO[218] - As of September 30, 2024, the company did not have any off-balance sheet arrangements, indicating no significant financial obligations outside its balance sheet[216]
BlueRiver Acquisition (BLUA) - 2024 Q2 - Quarterly Report
2024-08-19 20:37
PART I. FINANCIAL INFORMATION [Item 1. Condensed Consolidated Financial Statements](index=4&type=section&id=Item%201.%20Condensed%20Consolidated%20Financial%20Statements) The company reported Q2 2024 net income driven by warrant fair value changes, yet faces going concern doubts and delisting post-redemptions [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) The balance sheet reflects decreased total assets due to trust account redemptions and increased liabilities from accrued expenses Condensed Consolidated Balance Sheet Summary | Financial Metric | June 30, 2024 (Unaudited) | December 31, 2023 | | :--- | :--- | :--- | | **Assets** | | | | Total Current Assets | $59,427 | $39,582 | | Cash held in Trust Account | $17,449,581 | $20,179,711 | | **Total Assets** | **$17,509,008** | **$20,219,293** | | **Liabilities & Equity** | | | | Total Current Liabilities | $7,599,662 | $5,280,408 | | Total Liabilities | $7,875,144 | $5,851,390 | | Class A ordinary shares subject to possible redemption | $17,349,581 | $20,079,711 | | Total Shareholders' Deficit | ($7,715,717) | ($5,711,808) | - Total assets decreased primarily due to a reduction in cash held in the Trust Account, reflecting share redemptions[4](index=4&type=chunk)[5](index=5&type=chunk) - Total liabilities increased, driven by higher accrued expenses and working capital loans from a related party[4](index=4&type=chunk)[5](index=5&type=chunk) [Unaudited Condensed Consolidated Statements of Operations](index=5&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Operations) The statement of operations shows a Q2 2024 net income primarily driven by a positive change in derivative warrant liabilities Statement of Operations Highlights (Unaudited) | Metric | Three Months Ended June 30, 2024 | Three Months Ended June 30, 2023 | Six Months Ended June 30, 2024 | Six Months Ended June 30, 2023 | | :--- | :--- | :--- | :--- | :--- | | Income (loss) from operations | $313,152 | ($482,966) | ($2,142,638) | ($2,727,080) | | Income from cash and investments held in Trust Account | $200,899 | $179,734 | $414,672 | $1,585,936 | | Change in fair value of derivative warrant liabilities | $591,000 | $73,875 | $295,500 | ($98,500) | | **Net income (loss)** | **$1,105,051** | **($224,017)** | **($1,432,466)** | **($1,238,844)** | | Basic and diluted net income (loss) per share, Class A | $0.12 | ($0.02) | ($0.15) | ($0.09) | - The company reported net income for Q2 2024, a significant shift from a net loss in Q2 2023, primarily driven by a **$591,000** positive change in the fair value of derivative warrant liabilities[7](index=7&type=chunk) [Unaudited Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Cash flow activities for H1 2024 were dominated by trust account withdrawals to fund ordinary share redemptions Cash Flow Summary for the Six Months Ended June 30 (Unaudited) | Cash Flow Activity | 2024 | 2023 | | :--- | :--- | :--- | | Net cash used in operating activities | ($391,084) | ($460,764) | | Net cash provided by investing activities | $3,144,802 | $271,939,156 | | Net cash used in financing activities | ($2,776,373) | ($271,394,156) | | **Net change in cash** | **($22,655)** | **$84,236** | - Investing and financing activities were dominated by cash withdrawn from the Trust Account (**$3.3M**) to fund the redemption of ordinary shares (**$3.3M**) during the first six months of 2024[9](index=9&type=chunk) [Notes to Unaudited Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) Notes detail the company's blank check status, going concern doubts, merger termination, delisting, and recent share redemptions - The company is a blank check company formed to effect a business combination, with its combination period extended to **August 2, 2025**, following multiple shareholder votes and associated share redemptions[11](index=11&type=chunk)[30](index=30&type=chunk)[104](index=104&type=chunk) - Management has determined that the company's liquidity condition and mandatory liquidation requirement raise substantial doubt about its ability to continue as a going concern, with a working capital deficit of approximately **$7.5 million** as of June 30, 2024, and reliance on Sponsor loans[31](index=31&type=chunk)[34](index=34&type=chunk) - On June 28, 2024, the previously announced Agreement and Plan of Merger with Spinal Stabilization Technologies, LLC (SST) was terminated with no termination fees due[98](index=98&type=chunk)[142](index=142&type=chunk) - Subsequent to the quarter end, on July 15, 2024, the NYSE American filed a Form 25 to delist all of the company's securities, and the company has not applied to list its securities on over-the-counter markets[23](index=23&type=chunk)[125](index=125&type=chunk)[126](index=126&type=chunk) - On August 2, 2024, shareholders approved an extension for the business combination deadline to **August 2, 2025**, leading to the redemption of **1,475,947** Public Shares for approximately **$16.4 million**[30](index=30&type=chunk)[128](index=128&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=32&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's blank check status, merger termination, Q2 2024 results, and significant going concern doubts amid redemptions and delisting - The company's proposed Business Combination with Spinal Stabilization Technologies, LLC (SST) was terminated on June 28, 2024, with no termination fees due by either party[142](index=142&type=chunk) - As of June 30, 2024, the company had approximately **$17,000** in cash and a working capital deficit of approximately **$7.5 million**, relying on working capital loans from its Sponsor, of which **$1,347,700** was outstanding[144](index=144&type=chunk)[145](index=145&type=chunk) - Management has concluded that the company's liquidity condition and mandatory liquidation requirement raise substantial doubt about its ability to continue as a going concern[147](index=147&type=chunk) - The company has undergone multiple extensions of its combination period, with the latest extending the deadline to **August 2, 2025**, accompanied by significant shareholder redemptions that reduced cash held in the Trust Account[137](index=137&type=chunk)[138](index=138&type=chunk)[139](index=139&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=42&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) As a smaller reporting company, the company is exempt from providing quantitative and qualitative market risk disclosures - As a smaller reporting company, BlueRiver Acquisition Corp. is not required to provide quantitative and qualitative disclosures about market risk[170](index=170&type=chunk) [Controls and Procedures](index=42&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of June 30, 2024, with no material changes to internal controls - Based on an evaluation as of June 30, 2024, the company's chief executive officer and chief financial officer concluded that disclosure controls and procedures were effective[171](index=171&type=chunk) - No changes to the internal control over financial reporting occurred during the quarter that have materially affected or are likely to materially affect such controls[172](index=172&type=chunk) PART II. OTHER INFORMATION [Legal Proceedings](index=43&type=section&id=Item%201.%20Legal%20Proceedings) The company reported no legal proceedings during the period - There are no legal proceedings to report[174](index=174&type=chunk) [Risk Factors](index=43&type=section&id=Item%201A.%20Risk%20Factors) The company highlights unchanged material risk factors, emphasizing economic downturn, capital market volatility, regulatory changes, and banking sector turmoil - The current economic downturn, characterized by inflation and higher interest rates, may adversely affect potential target businesses and make it more difficult to obtain financing for an initial business combination[175](index=175&type=chunk)[176](index=176&type=chunk) - Proposed SEC rules regarding SPACs could increase the costs and time required to complete a business combination and may constrain the circumstances under which one could be completed[180](index=180&type=chunk) - The company's working capital was held at First Republic Bank, which became insolvent on May 1, 2023, highlighting turmoil in the banking sector despite assets being sold to JP Morgan Chase[182](index=182&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=45&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) This section details IPO proceeds, including **$287.5 million** in the Trust Account, and recent share redemptions totaling **$3.3 million** - Simultaneously with the IPO, the Sponsor purchased **800,000** Private Placement Units at **$10.00** per unit, generating gross proceeds of approximately **$8.0 million**[184](index=184&type=chunk) Issuer Purchases of Equity Securities (February 2024) | Period | Total number of shares purchased | Average price paid per share | | :--- | :--- | :--- | | February 1 – February 29, 2024 | 305,218 | $10.81709768 | [Defaults Upon Senior Securities](index=46&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reported no defaults upon senior securities - None[189](index=189&type=chunk) [Mine Safety Disclosures](index=46&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not applicable[189](index=189&type=chunk) [Other Information](index=46&type=section&id=Item%205.%20Other%20Information) The company reported no other material information - No directors or officers adopted or terminated a Rule 10b5-1 trading plan or a non-Rule 10b5-1 trading plan during the fiscal quarter[190](index=190&type=chunk) [Exhibits](index=46&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including corporate document amendments, officer certifications, and XBRL data - The report includes a list of exhibits filed, such as amendments to corporate documents, CEO/CFO certifications (Sections 302 and 906 of Sarbanes-Oxley), and interactive data files (XBRL)[191](index=191&type=chunk)
BlueRiver Acquisition (BLUA) - 2024 Q1 - Quarterly Report
2024-05-15 21:05
Recent Accounting Pronouncements BLUERIVER ACQUISITION CORP. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS MARCH 31, 2024 Note 3 — Initial Public Offering Founder Shares Simultaneously with the closing of the Initial Public Offering, the Company consummated the Private Placement of 800,000 Private Placement Units, at a price of $10.00 per Private Placement Unit with the Sponsor, generating gross proceeds of approximately $8.0 million. The Sponsor and the Company's officers and directors agr ...
BlueRiver Acquisition (BLUA) - 2023 Q4 - Annual Report
2024-02-26 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-39961 | --- | --- | --- | |-----------------------------------------------------------------|----------------------------------|--------------------------| | Cayman Islands | 6770 | 95-1577027 | | (State or other jurisdiction of | (pr ...
BlueRiver Acquisition (BLUA) - 2023 Q3 - Quarterly Report
2023-11-13 16:00
Concentration of Credit Risk 11 13 In June 2022, the FASB issued ASU 2022-03, ASC Subtopic 820, "Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions". The ASU amends ASC 820 to clarify that a contractual sales restriction is not considered in measuring an equity security at fair value and to introduce new disclosure requirements for equity securities subject to contractual sale restrictions that are measured at fair value. The ASU applies to both holders and issuers of equit ...
BlueRiver Acquisition (BLUA) - 2023 Q2 - Quarterly Report
2023-08-13 16:00
Table of Contents | --- | --- | --- | --- | |-------|-------|---------------------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 98-1577027 | | | | | (IRS Employer | | | | | | | | | | | | | | | Identification No.) | | Large accelerated filer Table of Contents Table of Contents Item 1. Condensed Financial Statements 1 Table of Contents Table of Contents | --- | --- | --- | --- | --- | --- | --- | --- | --- | |---------------------------------------------------------|--- ...
BlueRiver Acquisition (BLUA) - 2023 Q1 - Quarterly Report
2023-05-15 16:00
UNITED STATES Washington, D.C. 20549 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39961 (Exact name of registrant as specified in its charter) | --- | --- | --- | --- | |-------|---------------------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | ...
BlueRiver Acquisition (BLUA) - 2022 Q4 - Annual Report
2023-03-30 16:00
Global economic uncertainty caused by political instability, changes in trade agreements and conflicts, such as the conflict between Russia and Ukraine, could adversely af ect the landscape in which potential targets operate and thus impact our ability to complete the initial business combination. 60 Item 3. Legal Proceedings 61 Equity Securities On December 31, 2022, there were two holders of record of our units, one holder of record of our Class A ordinary shares, four holders of record of our Class B ord ...
BlueRiver Acquisition (BLUA) - 2022 Q3 - Quarterly Report
2022-11-20 16:00
PART I. FINANCIAL INFORMATION [Item 1. Condensed Financial Statements](index=4&type=section&id=Item%201.%20Condensed%20Financial%20Statements) BlueRiver Acquisition Corp.'s unaudited condensed financial statements as of September 30, 2022, reflect its SPAC status with **$288.7 million in assets**, **$5.5 million net income** for nine months, and **substantial doubt about going concern** due to a working capital deficit and impending liquidation deadline [Condensed Balance Sheets](index=4&type=section&id=Condensed%20Balance%20Sheets) Condensed Balance Sheet Summary (Unaudited) | Metric | September 30, 2022 | December 31, 2021 | | :--- | :--- | :--- | | **Assets** | | | | Cash | $5,927 | $562,346 | | Investments held in Trust Account | $288,558,948 | $287,520,384 | | **Total Assets** | **$288,696,563** | **$288,299,835** | | **Liabilities & Equity** | | | | Total current liabilities | $1,051,144 | $773,434 | | Derivative warrant liabilities | $492,500 | $5,910,000 | | **Total Liabilities** | **$11,783,126** | **$16,914,706** | | Class A ordinary shares subject to possible redemption | $288,458,948 | $287,500,000 | | Total shareholders' deficit | $(11,545,511) | $(16,114,871) | [Unaudited Condensed Statements of Operations](index=5&type=section&id=Unaudited%20Condensed%20Statements%20of%20Operations) Condensed Statements of Operations Highlights (Unaudited) | Metric | Three Months Ended Sep 30, 2022 | Three Months Ended Sep 30, 2021 | Nine Months Ended Sep 30, 2022 | Nine Months Ended Sep 30, 2021 | | :--- | :--- | :--- | :--- | :--- | | Loss from operations | $(261,561) | $(1,043,358) | $(927,755) | $(1,618,948) | | Income from investments held in Trust Account | $901,194 | $5,908 | $1,038,563 | $13,239 | | Change in fair value of derivative warrant liabilities | $591,000 | $3,053,500 | $5,417,500 | $4,235,500 | | **Net Income** | **$1,230,633** | **$2,016,050** | **$5,528,308** | **$2,039,496** | | Basic and diluted net income per share (Class A & B) | $0.03 | $0.05 | $0.15 | $0.06 | [Unaudited Condensed Statements of Cash Flows](index=7&type=section&id=Unaudited%20Condensed%20Statements%20of%20Cash%20Flows) Condensed Statements of Cash Flows Summary (Unaudited) | Metric | Nine Months Ended Sep 30, 2022 | Nine Months Ended Sep 30, 2021 | | :--- | :--- | :--- | | Net cash used in operating activities | $(481,419) | $(1,030,564) | | Net cash used in investing activities | $0 | $(287,500,000) | | Net cash (used in) provided by financing activities | $(75,000) | $289,265,877 | | **Net change in cash** | **$(556,419)** | **$735,313** | | Cash - end of the period | $5,927 | $735,313 | [Notes to Unaudited Condensed Financial Statements](index=8&type=section&id=Notes%20to%20Unaudited%20Condensed%20Financial%20Statements) Notes detail the company's SPAC formation, **$287.5 million IPO**, and **February 2, 2023, business combination deadline**, highlighting **substantial doubt about going concern** due to liquidity and mandatory liquidation, alongside key accounting policies and related party transactions - The company was formed to effect a business combination and has not commenced any operations Its activities relate to its formation, IPO, and search for a business combination target[32](index=32&type=chunk)[34](index=34&type=chunk) - The company has until **February 2, 2023** (the "Combination Period") to complete a business combination, or it will be required to cease operations, redeem public shares, and dissolve[41](index=41&type=chunk)[43](index=43&type=chunk) - Management has determined that the company's liquidity condition and the mandatory liquidation requirement raise **substantial doubt about its ability to continue as a going concern** As of September 30, 2022, the company had approximately **$6,000 in cash** and a **working capital deficit of approximately $914,000**[49](index=49&type=chunk)[45](index=45&type=chunk) - The company pays an affiliate of the Sponsor **$50,000 per month** for administrative services For the nine months ended September 30, 2022, the company incurred **$450,000** in such expenses[93](index=93&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=30&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses BlueRiver's financial condition as a blank check company, highlighting **net income from non-operating activities**, a **$914,000 working capital deficit**, **going concern doubt**, and **$10.1 million in deferred underwriting commissions** contingent on a business combination - The company is a blank check company formed to effect a business combination, with its activities to date focused on its formation, IPO, and search for a target[131](index=131&type=chunk)[143](index=143&type=chunk) - Management has determined that the company's liquidity condition and the mandatory liquidation deadline of **February 2, 2023**, raise **substantial doubt about its ability to continue as a going concern**[141](index=141&type=chunk) Results of Operations Summary | Period | Net Income | Key Drivers | | :--- | :--- | :--- | | **Three Months Ended Sep 30, 2022** | ~$1.2 million | Change in fair value of derivative liabilities (~$591k), Investment income (~$901k) | | **Nine Months Ended Sep 30, 2022** | ~$5.5 million | Change in fair value of derivative liabilities (~$5.4M), Investment income (~$1.0M) | - The company has a contractual obligation for approximately **$10.1 million** in **deferred underwriting commissions**, which is payable from the Trust Account only upon the completion of a Business Combination[150](index=150&type=chunk)[152](index=152&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=37&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) As a smaller reporting company, BlueRiver is exempt from providing quantitative and qualitative disclosures about market risk - As a **smaller reporting company**, the company is not required to provide the information under this item[169](index=169&type=chunk) [Controls and Procedures](index=37&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were **effective as of September 30, 2022**, with **no material changes** to internal control over financial reporting during the quarter - Based on an evaluation as of September 30, 2022, the principal executive officer and principal financial officer concluded that the company's disclosure controls and procedures were **effective**[170](index=170&type=chunk) - **No changes** in internal control over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, these controls[172](index=172&type=chunk) PART II. OTHER INFORMATION [Legal Proceedings](index=38&type=section&id=Item%201.%20Legal%20Proceedings) The company reported **no legal proceedings** - The company has **no legal proceedings** to report[174](index=174&type=chunk) [Risk Factors](index=38&type=section&id=Item%201A.%20Risk%20Factors) Material changes to risk factors include the **economic downturn's impact on business combinations**, potential **increased costs from proposed SEC SPAC rules**, and the possibility of **liquidating Trust Account holdings to cash**, reducing interest income - The current **economic downturn**, including **inflation** and **higher interest rates**, may adversely affect potential target businesses and make it **more difficult to obtain financing** for a business combination[176](index=176&type=chunk)[177](index=177&type=chunk) - **Proposed SEC rules** on March 30, 2022, regarding SPACs could **increase the costs, time, and complexity** of negotiating and completing an initial business combination[183](index=183&type=chunk) - To mitigate the risk of being deemed an unregistered investment company, the company may **liquidate the U.S. government securities** in its Trust Account and **hold cash instead**, which would **significantly reduce interest income** available to shareholders upon redemption or liquidation[184](index=184&type=chunk) [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) The company privately placed **800,000 units** to the Sponsor for **$8.0 million**, with **$287.5 million** from the IPO and private placement deposited into the Trust Account - Simultaneously with the IPO, the company sold **800,000 Private Placement Units** to the Sponsor at **$10.00 per unit**, for gross proceeds of approximately **$8.0 million**[185](index=185&type=chunk) - Gross proceeds of **$287,500,000** from the IPO and Private Placement were placed in the Trust Account[187](index=187&type=chunk) [Defaults Upon Senior Securities](index=40&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reported **no defaults upon senior securities** - None[189](index=189&type=chunk) [Mine Safety Disclosures](index=40&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is **not applicable** to the company - Not applicable[191](index=191&type=chunk) [Other Information](index=40&type=section&id=Item%205.%20Other%20Information) The company reported **no other information** - None[193](index=193&type=chunk) [Exhibits](index=42&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including **CEO and CFO certifications** and **Inline XBRL documents** - The report includes **CEO and CFO certifications** pursuant to Sections 302 and 906 of the Sarbanes-Oxley Act, as well as **Inline XBRL filings**[195](index=195&type=chunk)
BlueRiver Acquisition (BLUA) - 2022 Q2 - Quarterly Report
2022-08-14 16:00
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39961 BLUERIVER ACQUISITION CORP. (Exact name of registrant as specified in its charter) Cayman Islands 6770 98-1577027 ( ...