Company: BLUWU
Filing Date: 2025-02-20
Form Type: S-1
Source: 0001493152-25-007630
Chunk: 47

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-02-20
Form: S-1
Chunk 47
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 believe the restriction described above will discourage shareholders from accumulating large blocks of shares,         
 and subsequent attempts by such holders to use their ability to redeem their shares as a means to force us or our management to purchase 
 their shares at a significant premium to the then-current market price or on other undesirable terms. Absent this provision, a public    
 shareholder holding more than an aggregate of 15% of the shares sold in this offering could threaten to exercise its redemption rights   
 against a business combination if such holder’s shares are not purchased by us, our sponsor or our management at a premium               
 to the then-current market price or on other undesirable terms. By limiting our shareholders’ ability to redeem to no more               
 than 15% of the shares sold in this offering, we believe we will limit the ability of a small group of shareholders to unreasonably      
 attempt to block our ability to complete our initial business combination, particularly in connection with a business combination        
 with a target that requires as a closing condition that we have a minimum net worth or a certain amount of cash. However, we would       
 not be restricting our shareholders’ ability to vote all of their shares (including all shares held by those shareholders that           
 hold more than 15% of the shares sold in this offering) for or against our initial business combination.                                 |
| Release                                                                                              
 of funds in trust account on closing of our initial business combination:                            | On the completion of our                                                                                                                 
 initial business combination, the funds held in the trust account will be used to pay amounts due to any public shareholders who         
 exercise their redemption rights as described above under “Redemption rights for public shareholders upon completion of                  
 our initial business combination,” to pay the underwriters their deferred underwriting commissions, to pay all or a portion              
 of the consideration payable to the target or owners of the target of our initial business combination and to pay other expenses         
 associated with our initial business combination. If our initial business combination is paid for using equity or debt securities,       
 or not all of the funds released from the trust account are used for payment of the consideration in connection with our initial         
 business combination, we may use the balance of the cash released to us from the trust account following the closing for general         
 corporate purposes, including for maintenance or expansion of operations of post-transaction businesses, the payment of principal        
 or interest due on indebtedness incurred in completing our initial business combination, to fund the purchase of other companies         
 or for working capital.                                                                                                                  |

| 33 |

| Redemption                                                                            
 of