Company: BLUWU
Filing Date: 2025-03-31
Form Type: S-1/A
Source: 0001641172-25-001410
Chunk: 224

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-03-31
Form: S-1/A
Chunk 224
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 offering. Each private placement unit will consist of one Class A ordinary share and one-half of one redeemable warrant, with each whole warrant exercisable to purchase one Class A ordinary share at $11.50 per share. The private placement units are identical to the units sold in this offering, subject to certain limited exceptions as described in this prospectus. The private placement warrants will be identical to the warrants comprising part of the units being offered by this prospectus. Of those 600,000 private placement units (or 660,000 private placement units if the underwriters’ over-allotment option is exercised in full), our sponsor has agreed to purchase 400,000 private placement units (or 430,000 private placement units if the underwriters’ over-allotment option is exercised in full) and BTIG has agreed to purchase 200,000 private placement units (or 230,000 private placement units if the underwriters’ over-allotment option is exercised in full). The private placement units will be identical to the units sold in this offering except that, so long as they are held by our sponsor or its permitted transferees, the private placement units (including the securities comprising such units and the Class A ordinary shares issuable upon exercise of the private placement warrants) (i) may not, subject to certain limited exceptions, be transferred, assigned or sold by the holders until 30 days after the completion of our initial business combination, (ii) will be entitled to registration rights and (iii) with respect to private placement warrants included in the private placement units held by BTIG and/or its designees, will not be exercisable more than five years from the commencement of sales in this offering in accordance with FINRA Rule 5110(g)(8).

The non-managing sponsor investors have indicated an interest to indirectly purchase, through the purchase of non-managing sponsor membership interests, an aggregate of 350,000 (or 380,000 if the underwriters’ over-allotment option is exercised in full) of the 400,000 private placement units (or 430,000 private placement units if the underwriters’ over-allotment option is exercised in full) being purchased by our sponsor at a price of $10.00 per unit ($3,500,000 in the aggregate (or $3,800,000 if the underwriters’ over-allotment option is exercised in full)) in a private placement that will close simultaneously with the closing of this offering. Subject to each non-man