Company: BLUWU
Filing Date: 2025-02-20
Form Type: S-1
Source: 0001493152-25-007630
Chunk: 86

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-02-20
Form: S-1
Chunk 86
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writers’ 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 [____] founder shares (or [____] 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 private placement units (and the securities comprising such units) will be worthless if we do not complete our initial business combination. The personal and financial interests of our officers and directors may influence their motivation in identifying and selecting a target business combination, completing an initial business combination and influencing the operation of the business following the initial business combination. This risk may become more acute as the end of the completion window nears, which is the deadline for our completion of an initial business combination.

| 61 |

We may issue notes or other debt securities, or otherwise incur substantial debt, to complete a business combination, which may adversely affect our leverage and financial condition and thus negatively impact the value of our shareholders’ investment in us.

Although we have no commitments as of the date of this prospectus to issue any notes or other debt securities, or to otherwise incur outstanding debt following this offering, we may choose to incur substantial debt to complete our initial business combination. The incurrence of debt could have a variety of negative effects, including:

| ● | default                                                                                                                                  
 and foreclosure on our assets if our operating revenues after an initial business combination are insufficient to repay our debt         
 obligations;                                                                                                                             |
| ● | acceleration                                                                                                                             
 of our obligations to repay the indebtedness even if we make all principal and interest payments when due if we breach certain covenants 
 that require the maintenance of certain financial ratios or reserves without a waiver or renegotiation of that covenant;                 |
| ● | our                                                                                                                                      
 immediate payment of all principal and accrued interest, if any, if the debt security is payable on demand;                              |
| ● | our                                                                                                                                      
 inability to obtain necessary additional financing if the debt security contains covenants restricting our ability to obtain such        
 financing while the debt