Company: BLUWU
Filing Date: 2025-06-12
Form Type: 8-K
Source: 0001641172-25-014782
Chunk: 3

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-06-12
Form: 8-K
Item: Item 3.02
Chunk 3
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Item 3.02. Unregistered Sales of Equity Securities.

Simultaneously with the closing of the IPO, the
Company consummated a private placement (the “ Private Placement”) of an aggregate of 683,000 units (the “ Private
Units”) to the Sponsor and BTIG, at a price of $10.00 per Private Unit, generating total proceeds of $6,830,000. Each Private
Unit consists of one Class A Ordinary Share and one-half of one redeemable Warrant, with each whole Warrant entitling the holder
thereof to purchase one Class A Ordinary Share for $11.50 per share (subject to adjustment). Of those 683,000 Private Units,
the Sponsor purchased 430,000 Private Units and BTIG purchased 253,000 Private Units.

The Private Units are identical to the Units
sold in the IPO except with respect to certain registration rights and transfer restrictions, as described in the Registration Statement.
Additionally, such holders agreed not to transfer, assign or sell any of the Private Units or underlying securities (except in limited
circumstances, as described in the Registration Statement) until 30 days after the completion of the Company’s initial business
combination. The holders were granted certain demand and piggyback registration rights in connection with the purchase of the Private
Units and the underlying securities.

The Private Units were issued pursuant to Section
4(a)(2) of the Securities Act, as the transaction did not involve a public offering.

  Item 5.02.      Departure                                                                                                                                 

On June 9, 2025, in connection with the IPO, Ish
S. Dugal, Treavor L. Hawkins, Timothy N. Coulson and Laurent D. Hermouet were appointed to the board of directors of the Company. Ish
S. Dugal, Treavor L. Hawkins, Timothy N. Coulson and Laurent D. Hermouet are independent directors. Effective June 9, 2025, Timothy N.
Coulson, Ish S. Dugal and Laurent D. Hermouet were appointed to the Board’s Audit Committee (Mr. Dugal serving as chair of the
Audit Committee); and Trevor L. Hawkins and Laurent D. Hermouet were appointed to the Compensation Committee (with Mr. Hermouet serving
as chair of the Compensation Committee).

Following the appointment of Ish S. Dugal, Treavor L. Hawkins, Timothy
N. Coulson and Laurent D. Hermouet, the