Tue, Nov 26, 11:10 AM (48 days ago)
**Summary of BlueRiver Acquisition Corp. (BLUA) Q3 2024 Financial Results** For the quarter ended September 30, 2024, BlueRiver Acquisition Corp. reported a net loss of approximately $110,000, a significant decrease from a loss of $3.2 million in Q3 2023. The reduced loss was attributed to lower general and administrative expenses, totaling $195,000, compared to $3.6 million in the previous year. Revenue from the Trust Account decreased to $136,000, down from $244,000, reflecting reduced investment income. As of September 30, 2024, total assets stood at $1,067,305, with cash of $6,035 and a working capital deficit of approximately $8 million. The company has faced significant operational challenges, including a delisting from the NYSE American in July 2024, which may impact liquidity and ability to raise funds. Shareholders approved extensions for business combinations up to August 2, 2025, amid ongoing uncertainty in the capital markets. The company continues to rely on working capital loans from its sponsor, with $1.5 million outstanding as of the reporting date. Future operations hinge on successfully completing a business combination, which remains uncertain given the current economic environment and regulatory landscape.