Company: BLUWU
Filing Date: 2025-03-31
Form Type: S-1/A
Source: 0001641172-25-001410
Chunk: 106

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-03-31
Form: S-1/A
Chunk 106
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 ownership of us after our initial business combination.

| 70 |

In addition, we may effect a business combination with a target company that has business operations outside of the United States, and possibly, business operations in multiple jurisdictions. If we effect such a business combination, we could be subject to significant income, withholding and other tax obligations in a number of jurisdictions with respect to income, operations and subsidiaries related to those jurisdictions. Due to the complexity of tax obligations and filings in other jurisdictions, we may have a heightened risk related to audits or examinations by U.S. federal, state, local and non-U.S. taxing authorities. This additional complexity and risk could have an adverse effect on our after-tax profitability and financial condition.

Risks Relating to Acquiring and Operating a Business in Foreign Countries

If we effect our initial business combination with a company located outside of the United States, we would be subject to a variety of additional risks that may adversely affect us.

If we pursue a target company with operations or opportunities outside of the United States for our initial business combination, we may face additional burdens in connection with investigating, agreeing to and completing such initial business combination, and if we effect such initial business combination, we would be subject to a variety of additional risks that may negatively impact our operations.

If we pursue a target a company with operations or opportunities outside of the United States for our initial business combination, we would be subject to risks associated with cross-border business combinations, including in connection with investigating, agreeing to and completing our initial business combination, conducting due diligence in a foreign jurisdiction, having such transaction approved by any local governments, regulators or agencies and changes in the purchase price based on fluctuations in foreign exchange rates.

If we effect our initial business combination with such a company, we would be subject to any special considerations or risks associated with companies operating in an international setting, including any of the following:

| ● | costs                                                                                        
 and difficulties inherent in managing cross-border business operations;                      |
| ● | rules                                                                                        
 and regulations regarding currency redemption;                                               |
| ● | complex                                                                                      
 corporate withholding taxes on individuals;                                                  |
| ● | laws                                                                                         
 governing the manner in which future business combinations may be effected;                  |
| ● | exchange                                                                                     
 listing and/or delisting requirements;                                                       |
| ● | tariffs                                                                                      
 and trade barriers;                                                                          |
| ● | regulations                                                                                  
 related to customs and import/export matters;                                                |
| ● | local                                                                                        
 or regional economic policies and market conditions;                                         |
| ● | unexpected                                                                                   
 changes in