Company: BLUWU
Filing Date: 2025-03-31
Form Type: S-1/A
Source: 0001641172-25-001410
Chunk: 46

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-03-31
Form: S-1/A
Chunk 46
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 Repayment of loans which may be made by our sponsor or an affiliate of our sponsor or certain of our officers and directors to finance  
 transaction costs in connection with an intended initial business combination. Up to $1,500,000 of such loans may be convertible           
 into private placement units of the post-business combination entity at a price of $10.00 per unit at the option of the lender. Such       
 units would be identical to the private placement units. Except for the foregoing, the terms of such loans, if any, have not been          
 determined and no written agreements exist with respect to such loans.                                                                     |
| Audit                 
 committee:            | We will establish and maintain                                                                                                             
 an audit committee, which will be composed entirely of independent directors as and when required by the rules of Nasdaq and Rule 10A      
 of the Exchange Act. Among its responsibilities, the audit committee will review on a quarterly basis all payments that were               
 made to our sponsor, officers or directors, or our or their affiliates and monitor compliance with the other terms relating to this        
 offering. If any noncompliance is identified, then the audit committee will be charged with the responsibility to promptly take all        
 action necessary to rectify such noncompliance or otherwise to cause compliance with the terms of this offering. For more information,     
 see “Management — Committees of the Board of Directors — Audit Committee.”                                                                 |

| 35 |

| Conflicts    
 of Interest: | Each of our officers and                                                                                                                
 directors presently has, and any of them in the future may have additional, fiduciary, contractual or other obligations or duties       
 to one or more other entities pursuant to which such officer or director is or will be required to present a business combination       
 opportunity to such entities. Accordingly, if any of our officers or directors becomes aware of a business combination opportunity      
 which is suitable for an entity to which he or she has then current fiduciary or contractual obligations, he or she will honor his      
 or her fiduciary or contractual obligations to present such business combination opportunity to such other entity, subject to their     
 fiduciary duties under Cayman Islands law. Our amended and restated memorandum and articles of association provide that, to the fullest 
 extent permitted by law: (i) no individual serving as a director or an officer, among other persons, shall have any duty, except        
 and to the extent expressly assumed by contract, to refrain from engaging directly or indirectly in the same or similar business        
 activities or lines of business as us, and