Company: BLUWU
Filing Date: 2025-03-31
Form Type: S-1/A
Source: 0001641172-25-001410
Chunk: 168

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-03-31
Form: S-1/A
Chunk 168
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 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 private placement units through the Class B membership units in the sponsor. Non-managing sponsor investors will have no right to control the sponsor or participate in any decision regarding the disposal of any security held by the sponsor, or otherwise.

The following table sets forth the payments to be received by our sponsor and its affiliates from us prior to or in connection with the completion of our initial business combination and the securities issued and to be issued by us to our sponsor or its affiliates:

| Entity/Individual                                          |     | Amount                                                                                                                                    
 of Compensation to be Received or                                                                                                         
 Securities Issued or to be Issued                                                                                                         |     |                                                                                                                                               Consideration 
                                                                                                                                          Paid or to be Paid |
| Blue                                                       
 Water Acquisition III LLC                                  |     | $10,000 per month                                                                                                                         |     |                                                                                          Office space, administrative and shared personnel support services |
|                                                            |     | 5,750,000 Class B ordinary shares(1)                                                                                                      |     |                                                                                                                                                     $25,000 |
|                                                            |     | 400,000 private                                                                                                                           
 placement units (or