Company: BLUWU
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024010
Chunk: 70

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 70
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    Basic and diluted net income (loss) per share 
    $(0.65) 
    $0.83 

The
following table presents a reconciliation of the numerator and denominator used to compute basic and diluted net income (loss) per ordinary
share for each class of ordinary shares for the six months ended June 30, 2025:

    For
the Six Months Ended 

    June 30, 2025 
  
    Net income 
    $368,570 
  
    Less: Remeasurement of Class A redeemable shares to redemption value 
     (18,317,089)
  
    Net loss including accretion of Class A redeemable shares to redemption value 
    $(17,948,519)

    Ordinary shares  
    Ordinary shares 

    For the Six Months Ended 

    June 30, 2025 

    Non-redeemable  
    Redeemable shares 

    Class A and Class B  
    Class A 

    Ordinary shares  
    Ordinary shares 
  
    Total number of shares 
     7,008,000  
     25,300,000 
  
    Ownership percentage 
     22% 
     78%

    Net income allocated by class 
     (25,688) 
     394,258 

    Less: Remeasurement of Class A redeemable shares to redemption value based on ownership percentage 
     (3,973,200) 
     (14,343,889)
  
    Plus: Accretion applicable to remeasurement of Class A redeemable shares to redemption value 
     —  
     18,317,089 
  
    Total loss based on ownership percentage 
    $(3,998,888) 
    $4,367,458 

    Weighted average shares outstanding 
     5,888,409  
     2,655,801 
  
    Basic and diluted net income (loss) per share 
    $(0.68) 
    $1.64 

    9 

Income
Taxes

The
Company accounts for income taxes under ASC Topic 740, “Income Taxes,” which requires an asset and liability approach to
financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences between
the financial statement and tax bases of assets and liabilities that will result in future taxable or deductible amounts, based on enacted
tax laws