Blue Acquisition Corp/Cayman SEC 10-Q Report

Blue Acquisition Corp/Cayman, a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses, has released its Form 10-Q report for the third quarter of 2025. The report provides a comprehensive overview of the company's financial performance and operational highlights as of September 30, 2025. Financial Highlights Net Income: $1.88 million, driven by income earned on cash and marketable securities held in the Trust Account.Net Income Per Share, Redeemable Class A Ordinary Shares: $0.10, reflecting the income allocation to redeemable shares.Net Loss Per Share, Non-Redeemable Class A and Class B Ordinary Shares: $(0.01), indicating a loss allocation to non-redeemable shares. Business Highlights Business Overview: Blue Acquisition Corp. is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. As of September 30, 2025, the company had not commenced any operations beyond its formation and the initial public offering.Segment Information: The company operates as a single reportable segment, with the Chief Financial Officer identified as the Chief Operating Decision Maker (CODM). The CODM reviews the operating results for the company as a whole to make decisions about resource allocation and financial performance assessment.Initial Public Offering: On June 16, 2025, Blue Acquisition Corp. completed its Initial Public Offering (IPO) of 20,125,000 units, generating gross proceeds of $201,250,000. Each unit consists of one Class A ordinary share and one right to receive one-tenth of one Class A ordinary share upon the consummation of the company's initial business combination.Private Placement: Simultaneously with the IPO, the company completed a private sale of 592,250 Private Placement Units to the Sponsor and underwriters, generating gross proceeds of $5,922,500. These units are identical to the public units, with certain exceptions.Trust Account: Following the IPO, $201,250,000 from the net proceeds was placed in a trust account. The funds are held in cash or invested in U.S. government treasury obligations or money market funds, intended for the sole purpose of facilitating the intended business combination.Future Outlook: The company intends to use the funds held in the trust account to complete its initial business combination. The management has broad discretion with respect to the specific application of the net proceeds, although substantially all are intended to be applied toward consummating a business combination.Operational Strategy: The company plans to effectuate its initial business combination using cash from the IPO and private placement, proceeds from the sale of securities in connection with the business combination, shares issued to the owners of the target, debt issued to banks or other lenders, or a combination of these methods.Liquidity and Capital Resources: As of September 30, 2025, the company had $1,045,403 in cash and working capital of $1,061,429. The company expects to incur significant costs in pursuit of its initial business combination and may seek additional financing if necessary.Risks and Uncertainties: The company's ability to complete an initial business combination may be adversely affected by various factors beyond its control, including changes in laws or regulations, economic conditions, and geopolitical instability.SEC Filing: Blue Acquisition Corp/Cayman [ BACC ] - 10-Q - Nov. 12, 2025