Company: BLUWU
Filing Date: 2025-03-31
Form Type: S-1/A
Source: 0001641172-25-001410
Chunk: 311

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-03-31
Form: S-1/A
Chunk 311
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 obtaining adequate financial resources through a proposed public offering of 20,000,000 units at $10.00 per unit (the “Units”) (or 23,000,000 Units if the underwriters’ over-allotment option is exercised in full), which is discussed in Note 3 (the “Proposed Public Offering”), and the sale of an aggregate of 600,000 private placement units (or 660,000 private placement units if the underwriters’ over-allotment option is exercised in full) (the “Private Placement Units”) to the Sponsor and BTIG, LLC, the representative of the underwriters of the Proposed Public Offering, at a price of $10.00 per Private Placement Unit, or $6,000,000 in the aggregate (or $6,600,000 if the underwriters’ over-allotment option is exercised in full), in a private placement that will close simultaneously with the Proposed Public Offering, which is discussed in Note 4. Of those 600,000 Private Placement Units (or 660,000 Private Placement Warrants if the underwriters’ over-allotment option is exercised in full), the Sponsor has agreed to purchase 400,000 Private Placement Units (or 430,000 Private Placement Units if the underwriters’ over-allotment option is exercised in full) and BTIG, LLC has agreed to purchase 200,000 Private Placement Units (or 230,000 Private Placement Units if the underwriters’ over-allotment option is exercised in full).

Each Unit will consist of one Class A ordinary share (the “Public Shares”) and one-half of one redeemable warrant (the “Public Warrants”). Each Private Placement Unit will consist of one Class A ordinary share (“Private Placement Share”) and one-half of one redeemable warrant (“Private Placement Warrant”). Each whole Public Warrant and Private Placement Warrant (together the “Warrants”) entitles the holder to purchase one Class A ordinary share at a price of $11.50 per share. The Company’s management has broad discretion with respect to the specific application of the net proceeds of the Proposed Public Offering and the Private Placement Units, although substantially all of the net proceeds are intended to be generally applied toward consummating a Business Combination (less deferred underwriting commissions).

The Company’s Business Combination must be with one or more target businesses that together have a fair market value equal to at least 80% of the net balance in the Trust Account (as defined below) (excluding