Company: BLUWU
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024010
Chunk: 33

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-08-14
Form: 10-Q
Item: Part II, Item 1A
Chunk 33
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otment option, which option was granted to the underwriters under the underwriting
agreement for our initial public offering. The units were sold at a price of $10.00 per unit, and our initial public offering generated
gross proceeds of $253,000,000. The securities sold in our initial public offering were registered under the Securities Act on a registration
statement on Form S-1 (No. 333-285075). The SEC declared the registration statement effective on June 9, 2025.

At
the time of the consummation of our initial public offering, we paid a total of $5,060,000 in underwriting fees related to our initial
public offering. In addition, the underwriters agreed to defer $8,855,000 in underwriting fees.

On
June 11, 2025, a total of $253,000,000 of the net proceeds from our initial public offering and the private placement were deposited
in the trust account. The net proceeds deposited into the trust account remain on deposit in the trust account and are available for
a business combination, assuming no redemptions, before fees and expenses associated with our initial business combination. The proceeds
held in the trust account will be invested only in U.S. government securities with a maturity of 185 days or less or in money market
funds meeting certain conditions under Rule 2a-7 under the Investment Company Act which invest only in direct U.S. government treasury
obligations.

Through
June 11, 2025, the date we consummated our initial public offering, we incurred $505,089 for other costs and expenses related to our
initial public offering

Purchases
of Equity Securities by the Issuer and Affiliated Purchasers during the Quarter Ended June 30, 2025

None.

Item
3. Defaults Upon Senior Securities.

None.

Item
4. Mine Safety Disclosures.

Not
applicable.

Item
5. Other Information.

None.

22 

Item
6. Exhibits.

The
following exhibits are filed as part of, or incorporated by reference into, this Quarterly Report on Form 10-Q.

    Exhibit
    No.
     
    Description
  
    1.1
     
    Underwriting Agreement, dated June 9, 2025, by and between the Company and BTIG, LLC, as representative of the underwriters, incorporated by reference to Exhibit 1.1 of the Company’s Form