Company: BLUWU
Filing Date: 2025-05-23
Form Type: S-1/A
Source: 0001641172-25-012302
Chunk: 34

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-05-23
Form: S-1/A
Chunk 34
---
aging sponsor                
 investor that may join the sponsor concurrently with this offering, will hold one or both classes of membership units representing         
 their proportional interest in the founder shares and private placement units, respectively. Pursuant to an agreement of the               
 members of the sponsor, the management and control of the sponsor is vested exclusively with the managing member, without any voting,      
 veto, consent or other participation rights by any non-managing members regardless of their unit ownership. As a result, 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.                                                                                                         |
| Transfer                        
 restrictions on founder shares: |     | Our                                                                                                                                        
 initial shareholders have agreed not to transfer, assign or sell any of their founder shares and any Class A ordinary shares issuable      
 upon conversion thereof until the earlier to occur of: (i) one year after the completion of our initial business combination or (ii)       
 the date on which we complete a liquidation, merger, share exchange or other similar transaction after our initial business combination    
 that results in all of our shareholders having the right to exchange their Class A ordinary shares for cash, securities or other           
 property; except to certain permitted transferees and under certain circumstances as described herein under “Principal Shareholders        
 — Restrictions on Transfers of Founder Shares and Private Placement Units.” Any permitted transferees will be subject                      
 to the same restrictions and other agreements of our initial shareholders with respect to any founder shares. We refer to such transfer    
 restrictions throughout this prospectus as the lock-up. Notwithstanding the foregoing, if (1) the closing price of our Class A ordinary    
 shares equals or exceeds $12.00 per share (as adjusted for share sub-divisions, share capitalizations, reorganizations, recapitalizations  
 and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after our initial business combination 
 or (2) if we consummate a transaction after our initial business combination which results in our shareholders having the right to         
 exchange their shares for cash, securities or other property, the founder shares will be released from the lock-up.                        |
|                                 |     | Except                                                                                                                                     
 in certain limited circumstances, no member of the sponsor (including the non-managing sponsor investors) may sell, transfer, assign,      
 pledge, mortgage, charge, hypothecate, exchange or otherwise dispose directly or indirectly of, all or any portion