Company: BLUWU
Filing Date: 2025-05-23
Form Type: S-1/A
Source: 0001641172-25-012302
Chunk: 39

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-05-23
Form: S-1/A
Chunk 39
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 units will be identical to the units sold in this offering       
 except that, so long as they are held by our sponsor or its permitted transferees, the private placement units (including the securities  
 comprising such units and the Class A ordinary shares issuable upon exercise of the private placement warrants) (i) may not, subject      
 to certain limited exceptions, be transferred, assigned or sold by the holders until 30 days after the completion of our initial          
 business combination, (ii) will be entitled to registration rights and (iii) with respect to private placement warrants included          
 in the private placement units held by BTIG and/or its designees, will not be exercisable more than five years from the commencement      
 of sales in this offering in accordance with FINRA Rule 5110(g)(8). If we do not complete our initial business combination within         
 the completion window, the private placement units (and the securities comprising such units) will be worthless.                          |

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|                                          |     | The                                                                                                                                       
 non-managing sponsor investors have indicated an interest to indirectly purchase, through the purchase of non-managing sponsor membership 
 interests, an aggregate of 350,000 (or 380,000 if the underwriters’ over-allotment option is exercised in full) of the 400,000            
 private placement units (or 430,000 private placement units if the underwriters’ over-allotment option is exercised in full)              
 being purchased by our sponsor at a price of $10.00 per unit ($3,500,000 in the aggregate (or $3,800,000 if the underwriters’             
 over-allotment option is exercised in full)) in a private placement that will close simultaneously with the closing of this offering.     
 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 membership interests at a nominal purchase price ($0.004) to the non-managing   
 sponsor investors reflecting interests in an aggregate of 2,800,000 founder shares (or 3,040,000 founder shares if                        
 the underwriters’ over-allotment option is exercised in full) held by the sponsor. The non-managing sponsor investors will                
 not be subject to transfer restrictions or a lock-up agreement on any Class A ordinary shares that they may purchase in this offering     
 pursuant to the expressions of interest described below or otherwise.                                                                     |
|                                          |     | The