Company: BLUWU
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023451
Chunk: 3

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 3
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 subject to the claims of the Company’s creditors,
if any, which could have priority over the claims of the Company’s public shareholders.

    5

The
Company will provide the Company’s public shareholders with the opportunity to redeem all or a portion of their Public Shares,
regardless of whether they abstain, vote for, or vote against, the initial Business Combination upon completion of the initial Business
Combination either (i) in connection with a general meeting called to approve the initial Business Combination or (ii) without a shareholder
vote by means of a tender offer. The decision as to whether the Company will seek shareholder approval of a proposed initial Business
Combination or conduct a tender offer will be made by the Company, solely in its discretion. The public shareholders will be entitled
to redeem their shares at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account calculated
as of two business days prior to the consummation of the initial Business Combination, including interest earned on the funds held in
the Trust Account (less taxes payable (but without deduction for any excise or similar tax that may be due or payable)), divided by the
number of then outstanding Public Shares, subject to the limitations. The amount in the Trust Account is initially anticipated to be
$10.00 per Public Share. The ordinary shares subject to redemption will be recorded at redemption value and classified as temporary equity
upon the completion of the Initial Public Offering, in accordance with Financial Accounting Standards Board (“FASB”) Accounting
Standards Codification (“ASC”) Topic 480, “Distinguishing Liabilities from Equity.”

The
Company will have only the duration of the Completion Window to complete the initial Business Combination. However, if the Company is
unable to complete its initial Business Combination within the Completion Window, the Company will as promptly as reasonably possible
but not more than ten business days thereafter, redeem the Public Shares, at a per-share price, payable in cash, equal to the aggregate
amount then on deposit in the Trust Account, including interest earned on the funds held in the Trust Account (net of amounts withdrawn
to pay the Company’s taxes (but without deduction for any excise or similar tax that may be due or payable) and up to $100,000
of interest to pay dissolution expenses), divided by the number of then outstanding Public Shares, which redemption will constitute full
and complete payment for the Public Shares and completely extinguish public shareholders’ rights as shareholders (including the