Company: BLUWU
Filing Date: 2025-05-23
Form Type: S-1/A
Source: 0001641172-25-012302
Chunk: 225

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-05-23
Form: S-1/A
Chunk 225
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 you purchase at least two units, you will not be able to receive or trade a whole warrant. Additionally, the units will automatically separate into their component parts and will not be traded after completion of our initial business combination.

In no event will the Class A ordinary shares and warrants be traded separately until we have filed with the SEC a Current Report on Form 8-K which includes an audited balance sheet reflecting our receipt of the gross proceeds of this offering. We will file a Current Report on Form 8-K which includes this audited balance sheet upon the completion of this offering. If the over-allotment option is exercised following the initial filing of such Current Report on Form 8-K, a second or amended Current Report on Form 8-K will be filed to provide updated information to reflect the exercise of the over-allotment option.

Private Placement Units

The private placement
units (including the private placement shares, private placement warrants and Class A ordinary shares underlying the private placement
warrants included in such private placement units) will not be transferable or salable until 30 days after the completion of our
initial business combination (except, among other limited exceptions as described under “Principal Shareholders — Transfers of Founder Shares and Private Placement Units,” to our officers and directors and other persons or entities affiliated
with our sponsor). For more information on the letter agreement in which such transfer restrictions are included and for more information
on the limited exceptions to such transfer restrictions, also see “Proposed Business — Initial Business Combination — Sponsor Information.”

Holders of our private
placement units (including their component securities) are entitled to certain registration rights. If we do not consummate an initial
business combination within the completion window, any proceeds from the sale of the private placement units held in the trust account
will be used to fund the redemption of our public shares (subject to the requirements of applicable law). Holders of our private placement
units have entered into an agreement with us, pursuant to which, among others, they will agree to waive their redemption rights with
respect to their founder shares, private placement shares included in any private placement units and public shares in connection with
(i) the completion of our initial business combination and (ii) an amendment to our amended and restated memorandum and articles
of association (A) to modify the substance or timing of our obligation to provide for the redemption of our public shares in connection
with an initial business combination or to redeem 100% of our public shares if we have not consummated