Company: BLUWU
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024010
Chunk: 83

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 83
---
 the Trust Account and released to BTIG, LLC only upon the completion of an initial Business Combination. The deferred underwriting
commissions will be payable as follows: (i) $0.30 per Unit sold in the Initial Public Offering will be paid to BTIG, LLC in cash upon
the closing of the initial Business Combination and (ii) $0.05 per Unit sold in the Initial Public Offering will be payable to BTIG,
LLC in cash (the “Allocable Amount”), provided that the Company and the Sponsor have the right, in the Company and the Sponsor’s
discretion, to reallocate any portion of the Allocable Amount to third parties not participating in the Initial Public Offering (but
who are members of FINRA) that assist the Company in consummating the initial Business Combination.

Note
8 — Shareholders’ Deficit

Preference
Shares — The Company is authorized to issue a total of 5,000,000 preference shares at par value of $0.0001 each. At June
30, 2025, there were no preference shares issued or outstanding.

Class
A Ordinary Shares — The Company is authorized to issue a total of 485,000,000 Class A ordinary shares at par value of $0.0001
each. At June 30, 2025, there were 683,000 shares of Class A ordinary shares issued and outstanding, excluding 25,300,000 shares subject
to possible redemption.

Class
B Ordinary Shares — The Company is authorized to issue a total of 10,000,000 Class B ordinary shares at par value of $0.0001
each. On December 3, 2025, the Sponsor had initially purchased 5,750,000 Class B ordinary shares for $25,000, or $0.0004 per share. On
June 9, 2025, the Company issued an additional 575,000 Class B ordinary shares to the Sponsor through a share capitalization for no additional
consideration, resulting in 6,325,000 Class B ordinary shares issued and outstanding. Accordingly, at June 30, 2025, there were 6,325,000
Class B ordinary shares were issued and outstanding.

The
founder shares will automatically convert into Class A ordinary shares (which such Class A ordinary shares delivered upon conversion
will not have any redemption rights or be entitled to liquidating distributions from the Trust Account if the Company fails to consummate
an initial