Company: BLUWU
Filing Date: 2025-02-20
Form Type: S-1
Source: 0001493152-25-007630
Chunk: 41

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-02-20
Form: S-1
Chunk 41
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 to allocate the units to investors and may determine to sell fewer units to the non-managing sponsor  
 investors, or none at all, and the purchase of the non-managing sponsor membership interests is not contingent upon the participation       
 in this offering or vice versa. The underwriter will receive the same upfront discounts and commissions and deferred underwriting           
 commissions on units purchased by the non-managing sponsor investors, if any, as it will on the other units sold to the public in           
 this offering. In addition, none of the non-managing sponsor investors has any obligation to vote any of their public shares in favor       
 of our initial business combination. Nevertheless, the non-managing sponsor investors will be incentivized to vote any of their public      
 shares in favor of a business combination due to their indirect ownership through the sponsor of [____] founder shares (or                  
 [____] founder shares if the underwriters’ over-allotment option is exercised in full) and 350,000 private placement                        
 units (or 380,000 private placement units if the underwriters’ over-allotment option). In the event that the non-managing sponsor           
 investors purchase such units (either in this offering or after) and vote them in favor of our initial business combination, no affirmative 
 votes from other public shareholders would be required to approve our initial business combination. However, because the non-managing       
 sponsor investors are not obligated to continue owning any public shares following the closing of this offering and are not obligated       
 to vote any public shares in favor of our initial business combination, we cannot assure you that any of these non-managing sponsor         
 investors will be public shareholders at the time our shareholders vote on our initial business combination, and, if they are public        
 shareholders, we cannot assure you as to how such non-managing sponsor investors will vote on any business combination.                     |

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|                               |     | The                                                                                                                                       
 non-managing sponsor investors are not granted any shareholder or other rights in addition to those afforded to our other public          
 shareholders, and will only be issued membership interests in the sponsor, with no right to control the sponsor or vote or dispose        
 of any securities held by the sponsor, including the founder shares and the private placement units held by the sponsor. Further,         
 the non-managing sponsor investors are not required to (i) hold any units, Class A ordinary shares or public warrants they may purchase   
 in this offering or thereafter for any amount of time, (ii) vote any Class A ordinary shares they may