Blue Acquisition Corp. Reports $1.88 Million Net Income for Quarter Ending September 30, 2025

Blue Acquisition Corp., a special purpose acquisition company (SPAC) incorporated in the Cayman Islands, reported its financial results for the quarter ending September 30, 2025, in its latest 10-Q filing. The company generated a net income of $1.88 million for the quarter, primarily from $2.11 million in income earned on cash and marketable securities held in its Trust Account. This marks a significant increase compared to the net income of $2.06 million reported for the period from its inception on February 10, 2025, through September 30, 2025. The company’s total operating expenses for the quarter were $239,398, which included formation, general, and administrative expenses, legal and accounting fees, and other costs.

In terms of financial position, Blue Acquisition Corp. reported total assets of approximately $204.89 million as of September 30, 2025, with $203.68 million held in its Trust Account. The company had current liabilities of $99,022 and a shareholders' deficit of $5.93 million, primarily due to the remeasurement of Class A ordinary shares to redemption value. The company has 20,892,250 Class A ordinary shares and 7,069,913 Class B ordinary shares outstanding, with the Class A shares subject to possible redemption at a value of $203.68 million.

Strategically, Blue Acquisition Corp. completed its Initial Public Offering (IPO) on June 16, 2025, raising gross proceeds of $201.25 million from the sale of 20,125,000 units, which included the full exercise of the underwriters' over-allotment option. Additionally, the company raised $5.92 million through a private placement of 592,250 units. The funds from the IPO and private placement are intended to be used for a future business combination, although the company has not yet identified a target.

Operationally, Blue Acquisition Corp. has not commenced any business operations and has focused on organizational activities and the search for a suitable acquisition target. The company has incurred significant costs related to its IPO and anticipates ongoing expenses as it continues to pursue its business combination plans. As of September 30, 2025, the company had $1.05 million in cash outside of the Trust Account, which it plans to use for identifying and evaluating potential target businesses.

Looking ahead, Blue Acquisition Corp. faces challenges in completing its initial business combination within the required timeframe. The company has indicated that it may seek to extend the combination period, which would require shareholder approval. However, there is no assurance that the company will successfully identify a target or complete a business combination, raising concerns about its ability to continue as a going concern. The management has acknowledged these uncertainties and is actively working to address them as they move forward.