Company: BLUWU
Filing Date: 2025-05-23
Form Type: S-1/A
Source: 0001641172-25-012302
Chunk: 328

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-05-23
Form: S-1/A
Chunk 328
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 two-thirds) of the votes cast by such shareholders as, being entitled to do so, vote in person or, where proxies are allowed, by proxy at the applicable general meeting of the Company.

Note 9 — Subsequent Events

The Company evaluated subsequent events and transactions that occurred after the balance sheet date through March 28, 2025, the date that the financial statements were available to be issued. Based upon this review, the Company did not identify any subsequent events that would have required adjustment or disclosure in the financial statements, other than as disclosed below.

The Sponsor has made $53,588 of payments on behalf of the Company. These payments are recorded under the Promissory Note, resulting in aggregate borrowings of $55,093.

| F-16 |

<div align='center'>Blue Water Acquisition Corp. III

CONDENSED BALANCE SHEETS</div>

| ASSETS                                                                                                                     |     | March 31,   
 2025        
 (unaudited) |          |   |     | December 31, 
 2024         
 (audited)    |         |   |
|:---------------------------------------------------------------------------------------------------------------------------|:----|:------------|---------:|:--|:----|:-------------|--------:|:--|
| Prepaid expenses                                                                                                           |     | $           |    5,833 |   |     | $            |       — |   |
| Deferred offering costs                                                                                                    |     |             |  126,380 |   |     |              |  25,000 |   |
| Total Assets                                                                                                               |     | $           |  132,213 |   |     | $            |  25,000 |   |
| LIABILITIES AND SHAREHOLDER’S DEFICIT                                                                                      |     |             |          |   |     |              |         |   |
| Accrued offering costs                                                                                                     |     | $           |   65,000 |   |     | $            |  25,000 |   |
| Accrued expenses                                                                                                           |     |             |        — |   |     |              |  15,000 |   |
| Accounts payable                                                                                                           |     |             |   30,393 |   |     |              |   7,036 |   |
| Promissory note – related party                                                                                            |     |             |  136,183 |   |     |              |   1,505 |   |
| Total Liabilities