Company: BLUWU
Filing Date: 2025-05-23
Form Type: S-1/A
Source: 0001641172-25-012302
Chunk: 220

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-05-23
Form: S-1/A
Chunk 220
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 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).

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 private placement units held by the sponsor, including the private placement units represented by the non-managing sponsor investors’ membership interests, are subject to a lock-up as described in ‘‘ Principal Shareholders — Restrictions on Transfers of Founder Shares and Private Placement Units’’; however, 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.

We may pay a
finder’s fee, advisory fee, consulting fee or success fee to our sponsor, officers or directors, or our or their affiliates,
for services they render to us in connection with our initial business combination, and