Law firm Appleby announced recently that it acted as Cayman Islands counsel for Blue Acquisition Corp. in its initial public offering of 20,125,000 units, which includes 2,625,000 units issued pursuant to the full exercise by the underwriters of their over-allotment option.
The offering was priced at US$10 per unit, resulting in gross proceeds of $201,250,000, stated a press release from Appleby.
The Appleby team was led by partner Simon Raftopoulos and counsel Alexandra Low.
The company’s units began trading on the Nasdaq Global Market (NASDAQ) on 13 June 2025, under the ticker symbol ‘BACCU’.
Each unit consists of one Class A ordinary share of the company and one right to receive one tenth of one Class A ordinary share of the company upon the consummation of an initial business combination.
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.
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