Company: BLUWU
Filing Date: 2025-03-31
Form Type: S-1/A
Source: 0001641172-25-001410
Chunk: 28

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-03-31
Form: S-1/A
Chunk 28
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 or Inability to Consummate, a Business Combination — We may be unable to obtain additional financing to complete our initial business combination or to fund the operations and growth of a target business, which could compel us to restructure or abandon a particular business combination.”

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Sponsor Information Our sponsor, Blue Water Acquisition III LLC, is a Delaware limited liability company, which was recently formed to invest in our company. Although our sponsor is permitted to undertake any activities permitted under the Delaware Limited Liability Company Act and other applicable law, our sponsor’s business is focused on investing in our company. Joseph Hernandez, our Chief Executive Officer, is the sole managing member of Blue Water Acquisition III LLC and holds voting and investment discretion with respect to the ordinary shares held of record by the sponsor. All of our officers and directors are members of our sponsor. As of the date of this prospectus, other than Mr. Hernandez and our officers and directors, no other person has a direct or indirect material interest in our sponsor. Members of our management team will collectively receive an indirect interest in an aggregate of [____] founder shares (or approximately [____]% of the outstanding founder shares, assuming the overallotment option is not exercised) and [____] private placement units through Class A membership units and Class B membership units, respectively, in our sponsor. Of those amounts, our Chief Financial Officer and independent directors will receive for their services an indirect interest in an aggregate of [____] founder shares through the receipt of Class A membership units in our sponsor (or approximately [____]% of the outstanding founder shares, assuming the over-allotment option is not exercised). The sponsor membership interests that our Chief Financial Officer and independent directors will receive will not give them any direct or indirect interest in the private placement units held by the sponsor. See “ Principal Shareholders — Sponsor Ownership” for information regarding the beneficial ownership of interests in our sponsor. Other than our management team, none of the other members of our sponsor will participate in our company’s activities. Additionally, subject to each non-managing sponsor investor purchasing, through the sponsor, the private placement units allocated to it in connection with the closing of this offering, the sponsor will issue Class A membership units at a nominal purchase price ($0.004) to the non-managing sponsor investors representing interests in an aggregate of [____] founder shares (or [____] founder shares if the underwriters’ over-allotment option is exercised in full) held by the sponsor. Non-managing sponsor investors will hold their interests in the