Blue Acquisition, a blank check company targeting manufacturing and data centers, filed on Wednesday with the SEC to raise up to $150 million in an initial public offering.
The company plans to raise $150 million by offering 15 million units at $10. Each unit consists of one share of common stock and one right to receive one-tenth of a share upon the completion of an initial business combination.
Blue Acquisition is led by CEO and Director Ketan Seth, who currently serves as the CEO of "super app" Vezbi and AT Health, and Managing Partner of Alpha Trading. The SPAC plans to target 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 Newport Beach, CA-based company was founded in 2025 and plans to list on the Nasdaq under the symbol BACCU. Blue Acquisition filed confidentially on March 26, 2025. BTIG is the sole bookrunner on the deal.
