Blue Acquisition Corp. (BACC) has signed a definitive Business Combination Agreement with Blockfusion to create a new publicly traded parent company, Blockfusion Data Centers, Inc. (“Pubco”). The deal uses a dual‑merger structure: a Cayman merger will combine Blue with a Pubco subsidiary, and a Delaware merger will combine Blockfusion with another Pubco subsidiary, leaving both Blue and Blockfusion as wholly owned Pubco subsidiaries.
Blockfusion’s existing preferred stock will convert into two classes of Blockfusion common stock before closing, which will then be exchanged for two classes of Pubco common stock. Holders of Blockfusion Series A shares will receive Pubco Class A common stock, while holders of Series B shares will receive Pubco Class B common stock, which carry 20 votes per share but the same economic rights as Class A. An investor presentation and press release describing the transaction have been released, and a Form S‑4 with a proxy statement/prospectus will be filed for Blue shareholders to vote on the business combination.
Blue Acquisition Corp. (BACC) filed its quarterly report for the period ended September 30, 2025. The SPAC closed its IPO on June 16, 2025, selling 20,125,000 units at $10.00 each for gross proceeds of $201,250,000. Funds were placed in a trust account; cash and marketable securities in trust totaled $203,677,270 as of September 30.
The company reported quarterly net income of $1,879,085, largely from $2,106,133 of income earned on trust investments, against operating expenses of $239,398. Cash outside the trust was $1,045,403 with working capital of $1,061,429. A $7,043,750 deferred underwriting fee remains contingent on completing a business combination.
Management states there is substantial doubt about the company’s ability to continue as a going concern within one year from issuance. Public shareholders may redeem their shares in connection with a business combination or certain charter amendments. Each unit includes one Class A share and a right; ten rights convert into one Class A share upon closing of the initial business combination.