Blue Acquisition Corp. Prices $175 Million IPO to Pursue Green Energy and Tech Targets
Deal News | Jun 13, 2025 | EIN
Blue Acquisition Corp., a blank check company, has announced the pricing of its initial public offering (IPO), amounting to $175 million, with each of the 17.5 million units priced at $10.00. These units are slated for listing on the Nasdaq Global Market under the ticker symbol 'BACCU' beginning on June 13, 2025. The units come with one Class A ordinary share and one-tenth of a Class A ordinary share right, sans public or private warrants. While no specific business or industry has been pinpointed, the company intends to focus on identifying a business combination in manufacturing or data centers aligned with green energy and emerging tech initiatives. The offering is expected to conclude on June 16, 2025, subject to standard closing conditions and a 45-day option for underwriters to cover over-allotments. Led by CEO Ketan Seth and CFO David Bauer alongside a diverse board, the company is geared towards a merger, acquisition, or similar business combination. BTIG, LLC is the sole book-running manager, with Roberts & Ryan, Inc. as co-manager.
Sectors
- Financial Services
- Manufacturing & Green Energy
- Technology
Geography
- United States – The IPO and company is based in Newport Beach, California, with listings planned on the Nasdaq, located in the U.S.
Industry
- Financial Services – This sector is relevant as the article discusses the initial public offering (IPO) and investment strategy of a financial entity, Blue Acquisition Corp.
- Manufacturing & Green Energy – Relevant because Blue Acquisition Corp. aims to target manufacturing companies aligning with green energy initiatives and sustainable industrial practices.
- Technology – Significant due to the company's interest in emerging technologies like AI and cybersecurity as part of its business combination strategy.
Financials
- $175,000,000 – The total value of the initial public offering, involving 17,500,000 units at $10 per unit.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Blue Acquisition Corp. | Issuer | Company | A blank check company undertaking an IPO with plans for future business combinations. |
| Ketan Seth | Chief Executive Officer | Person | CEO and director of Blue Acquisition Corp. |
| David Bauer | Chief Financial Officer | Person | CFO and director of Blue Acquisition Corp. |
| BTIG, LLC | Book-running Manager | Company | Sole book-running manager for Blue Acquisition Corp.'s IPO. |
| Roberts & Ryan, Inc. | Co-Manager | Company | Co-manager for Blue Acquisition Corp.'s IPO. |
| General (Ret.) Wesley Clark | Board Member | Person | Board member of Blue Acquisition Corp. |
| SEC | Regulatory Authority | Government | U.S. Securities and Exchange Commission, regulator for the IPO. |