Company: BLUWU
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024010
Chunk: 74

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 74
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 from the closing of the Initial Public
Offering and 30 days after the completion of the initial Business Combination, and will expire at 5:00 p.m., New York City time, five
years after the completion of the initial Business Combination or earlier upon redemption or liquidation.

The
Company will not be obligated to deliver any Class A ordinary shares pursuant to the exercise of a Warrant and will have no obligation
to settle such Warrant exercise unless a registration statement under the Securities Act with respect to the Class A ordinary shares
underlying the Warrants is then effective and a prospectus relating thereto is current. No Warrant will be exercisable and the Company
will not be obligated to issue a Class A ordinary share upon exercise of a Warrant unless the Class A ordinary share issuable upon such
Warrant exercise has been registered, qualified or deemed to be exempt under the securities laws of the state of residence of the registered
holder of the Warrants. In the event that the conditions in the two immediately preceding sentences are not satisfied with respect to
a Warrant, the holder of such Warrant will not be entitled to exercise such Warrant and such Warrant may have no value and expire worthless.
In no event will the Company be required to net cash settle any Warrant. In the event that a registration statement is not effective
for the exercised Warrants, the purchaser of a Unit containing such Warrant will have paid the full purchase price for the Unit solely
for the Class A ordinary share underlying such Unit.

Under
the terms of the warrant agreement, the Company will agree that, as soon as practicable, but in no event later than 20 business days
after the closing of its Business Combination, it will use commercially reasonable efforts to file with the SEC a post-effective amendment
to the registration statement for the Initial Public Offering or a new registration statement covering the registration under the Securities
Act of the Class A ordinary shares issuable upon exercise of the Warrants and thereafter will use its commercially reasonable efforts
to cause the same to become effective within 60 business days following the Company’s initial Business Combination and to maintain
a current prospectus relating to the Class A ordinary shares issuable upon exercise of the Warrants until the expiration of the Warrants
in accordance with the provisions of the warrant agreement. If a registration statement covering the Class A ordinary shares issuable
upon exercise of the Warrants is not effective by the sixtieth (60th) business day after the closing of the initial