Company: BLUWU
Filing Date: 2025-05-23
Form Type: S-1/A
Source: 0001641172-25-012302
Chunk: 42

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-05-23
Form: S-1/A
Chunk 42
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 elect to          
 purchase public shares or warrants, which may influence a vote on a proposed business combination and reduce the public “float”             
 of our securities.”                                                                                                                         |

| 29 |

| Redemption                                                                          
 rights for public shareholders upon completion of our initial business combination: |     | We                                                                                                                                       
 will provide our public shareholders with the opportunity to redeem, regardless of whether they abstain, vote for, or vote against,      
 our initial business combination, all or a portion of their public shares upon the completion of our initial business combination        
 at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account calculated as of two business  
 days prior to the consummation of our initial business combination, including interest earned on the funds held in the trust account     
 (less taxes payable (but without deduction for any excise or similar tax that may be due or payable)), divided by the number             
 of then outstanding public shares, subject to the limitations and on the conditions described herein.                                    |
|                                                                                     |     | The                                                                                                                                      
 amount in the trust account is initially anticipated to be $10.00 per public share. The per share amount we will distribute to investors 
 who properly redeem their shares will not be reduced by the deferred underwriting commissions we will pay to the underwriters. There     
 will be no redemption rights upon the completion of our initial business combination with respect to our warrants. Our sponsor, officers 
 and directors have entered into a letter agreement with us, pursuant to which they have agreed to waive their redemption rights with     
 respect to their founder shares, private placement shares and any public shares they may acquire during or after this offering in        
 connection with the completion of our initial business combination. The non-managing sponsor investors are not required to (i) hold      
 any units, Class A ordinary shares or public warrants they may purchase in this offering or thereafter for any amount of time, (ii)      
 vote any Class A ordinary shares they may own at the applicable time in favor of our initial business combination or (iii) refrain       
 from exercising their right to redeem their public shares at the time of our initial business combination. The non-managing sponsor      
 investors will have the same rights to the funds held in the trust account with respect to the Class A ordinary shares comprising        
 part of the units they may purchase in this offering as the rights afforded to our other public shareholders. However, whether           
 or not the non-managing sponsor investors purchase any of the units for which they have expressed to us