Company: BLUWU
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023451
Chunk: 18

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 18
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and (iii) with respect to Private Placement Warrants held by BTIG, LLC and/or its designees, will not be exercisable more than five years
from the commencement of sales in the Initial Public Offering in accordance with Financial Industry Regulatory Authority (“FINRA”)
Rule 5110(g)(8).

The
Sponsor, officers and directors entered into a letter agreement with the Company, pursuant to which they agreed to (i) waive their redemption
rights with respect to any shares held by them in connection with the completion of the initial Business Combination; (ii) waive their
redemption rights with respect to any shares held by them in connection with a shareholder vote to approve an amendment to the amended
and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to allow
redemption in connection with the initial Business Combination or to redeem 100% of the Public Shares if the Company has not consummated
an initial Business Combination within the Completion Window or (B) with respect to any other material provisions relating to shareholders’
rights or pre-initial Business Combination activity; (iii) waive their rights to liquidating distributions from the Trust Account with
respect to their founder shares and Private Placement Shares if the Company fails to complete an initial Business Combination within
the Completion Window, although they will be entitled to liquidating distributions from the Trust Account with respect to any Public
Shares they hold if the Company fails to complete an initial Business Combination within the prescribed time frame and to liquidating
distributions from assets outside the Trust Account; and (iv) vote any founder shares and Private Placement Shares held by them and any
Public Shares purchased during or after the Initial Public Offering (including in open market and privately-negotiated transactions,
aside from shares they may purchase in compliance with the requirements of Rule 14e-5 under the Exchange Act, which would not be voted
in favor of approving the Business Combination transaction) in favor of the initial Business Combination.

Note
5 — Segment Information

ASC
Topic 280, Segment Reporting, establishes standards for companies to report, in their financial statements, information about operating
segments, products, services, geographic areas, and major customers. Operating segments are defined as components of an enterprise that
engage in business activities from which it may recognize revenues and incur expenses, and for which separate financial information is
available that is regularly evaluated by the Company’s chief operating decision maker, or group, in deciding how to allocate resources
and assess performance