Blue Acquisition Corp. Announces the Pricing of $175,000,000 Initial Public Offering

Rhea-AI Summary

Blue Acquisition Corp announced the pricing of its IPO of 17.5 million units at $10.00 per unit, totaling $175 million. Trading will begin on Nasdaq under symbol BACCU on June 13, 2025. Each unit includes one Class A ordinary share and one right to receive 1/10 of a share upon business combination completion. The company is a blank check company focusing on mergers with manufacturing or data center businesses aligned with green energy and sustainable practices, as well as software development in AI, Cybersecurity, and energy management. The management team is led by CEO Ketan Seth and CFO David Bauer, with BTIG, LLC serving as sole book-running manager. The company granted underwriters a 45-day option to purchase up to 2.65 million additional units for over-allotments.

Positive

• Clear focus on high-growth sectors including green energy, AI, and cybersecurity
• Strong management team including notable figures like General Wesley Clark
• No warrant dilution in the offering structure
• Significant IPO size of $175 million with additional over-allotment option

Negative

• No specific target company identified yet
• Typical SPAC risks including potential dilution from share rights
• Limited time to complete a business combination
• Competitive SPAC market may affect ability to find attractive targets

Insights

SPAC Investment Analyst

Blue Acquisition Corp. launches $175M SPAC IPO targeting green manufacturing and data centers with notable management team.

Blue Acquisition Corp. has priced its IPO at $175 million, offering 17.5 million units at $10.00 per unit. The SPAC structure here is somewhat unique - each unit includes one Class A ordinary share and one right to receive 1/10 of a share upon business combination completion, notably without warrants that typically accompany SPAC offerings.

The company's targeting strategy focuses on green manufacturing and data centers, along with software development in emerging technologies like AI, cybersecurity, and energy management - all high-growth sectors with strong environmental credentials. This positions them in the increasingly important ESG-focused acquisition space.

The management team includes several notable figures, particularly General Wesley Clark (former NATO Supreme Allied Commander) on the board, bringing significant strategic expertise and potential government connections. The underwriting is led by BTIG, a mid-tier investment bank with experience in the SPAC market.

Like all SPACs, this represents a blank check investment with shareholders essentially betting on management's ability to identify and execute a value-creating acquisition. The absence of warrants in this structure is investor-friendly as it reduces potential dilution compared to typical SPAC structures. The over-allotment option of 2.65 million additional units ($26.5 million) provides flexibility to accommodate demand.

The SPAC market has cooled significantly since its 2020-2021 peak, making this launch noteworthy as it indicates continued selective appetite for SPACs with targeted investment theses in attractive sectors like sustainable technology and AI.

NEWPORT BEACH, Calif., June 12, 2025 /PRNewswire/ -- Blue Acquisition Corp. (the "Company") announced today the pricing of its initial public offering of 17,500,000 units at a price of $10.00 per unit. The units are expected to be listed on the Nasdaq Global Market ("Nasdaq") and begin trading tomorrow, June 13, 2025, under the ticker symbol "BACCU." Each unit consists of one Class A ordinary share and one right (the "Share Right") to receive one tenth (1/10) of one Class A ordinary share upon the consummation of an initial business combination.  There are no warrants issued publicly or privately in connection with this offering. Once the securities constituting the units begin separate trading, the Class A ordinary shares and Share Rights are expected to be listed on Nasdaq under the symbols "BACC" and "BACCR," respectively. The offering is expected to close on June 16, 2025, subject to customary closing conditions. The Company has granted the underwriters a 45-day option to purchase up to an additional 2,650,000 units at the initial public offering price to cover over-allotments, if any.

The Company 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.  Although the Company may pursue an initial business combination in any business or industry, it intends to focus on identifying a business combination target within a manufacturing company or data center that aligns with green energy initiatives and sustainable industrial practices, as well as software development in emerging technologies like AI, Cybersecurity and energy management.

The Company's management team is led by Ketan Seth, its Chief Executive Officer and a director, and David Bauer, its Chief Financial Officer and a director. In addition, the Board includes General (Ret.) Wesley Clark, Dino Dario Ferrari, DR. Kenneth Moritsugu, and Nadim Qureshi. Glenn Hill, Mina Janeska and Francisco de Borbon Graf von Hardenberg are Special Advisors to the Company.

BTIG, LLC is acting as sole book-running manager for the offering and Roberts & Ryan, Inc. is co-manager.

The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from BTIG, LLC, Attention: 65 East 55th Street, New York, New York 10022, or by email at ProspectusDelivery@btig.com, or by accessing the SEC's website, www.sec.gov.

A registration statement relating to the securities has been filed with the U.S. Securities and Exchange Commission ("SEC") and became effective on June 12, 2025. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Forward-Looking Statements

This press release contains statements that constitute "forward-looking statements," including with respect to the proposed initial public offering and search for an initial business combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds will be used as indicated.

Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the "Risk Factors" section of the Company's registration statement and preliminary prospectus for the Company's initial public offering filed with the SEC. Copies of these documents are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Company Contact:

Blue Acquisition Corp
1601 Anita Lane
Newport Beach CA, 92660-4803
Attn: Ketan Seth, CEO
kseth@blueacoro.com
dbauer@blueacorp.com
(646) 543-5060

View original content:https://www.prnewswire.com/news-releases/blue-acquisition-corp-announces-the-pricing-of-175-000-000-initial-public-offering-302480771.html

SOURCE Blue Acquisition Corp.

FAQ

What is the IPO price and size for Blue Acquisition Corp (BACCU)?

Blue Acquisition Corp's IPO consists of 17.5 million units priced at $10.00 per unit, totaling $175 million

When will BACCU stock start trading on Nasdaq?

BACCU units will begin trading on Nasdaq Global Market on June 13, 2025

What sectors is Blue Acquisition Corp targeting for acquisition?

The company targets manufacturing companies or data centers aligned with green energy initiatives, sustainable industrial practices, and software development in AI, Cybersecurity and energy management

What does each BACCU unit consist of?

Each unit consists of one Class A ordinary share and one right to receive one-tenth of one Class A ordinary share upon business combination completion

Who are the key executives leading Blue Acquisition Corp?

The company is led by Ketan Seth as CEO and David Bauer as CFO, with General Wesley Clark among its board members