Company: BLUWU
Filing Date: 2025-03-31
Form Type: S-1/A
Source: 0001641172-25-001410
Chunk: 268

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-03-31
Form: S-1/A
Chunk 268
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 an entity that is not a shell company.                                                                                          |

As a result, our initial shareholders will be able to sell their founder shares and private placement warrants, as applicable, pursuant to Rule 144 without registration one year after we have completed our initial business combination.

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Registration Rights

The holders of the (i)
founder shares, which were issued in a private placement prior to the closing of this offering, (ii) private placement units (including
the securities comprising such units and the Class A ordinary shares issuable upon exercise of the private placement warrants comprising
part of such units) which will be issued in a private placement simultaneously with the closing of this offering and (iii) private
placement units (including the securities comprising such units and the Class A ordinary shares issuable upon exercise of the private
placement warrants comprising part of such units) that may be issued upon conversion of working capital loans will have registration
rights to require us to register a sale of any of our securities held by them and any other securities of the company acquired by them
prior to the consummation of our initial business combination pursuant to a registration rights agreement to be signed prior to or on
the effective date of this offering. Pursuant to the registration rights agreement and assuming the underwriters exercise their over-allotment
option in full and $1,500,000 of working capital loans are converted into private placement units, we will be obligated to register up
to 6,965,000 Class A ordinary shares and 405,000 warrants. The number of Class A ordinary shares includes (i) 5,750,000 Class
A ordinary shares to be issued upon conversion of the founder shares, (ii) 660,000 Class A ordinary shares comprising part of
the private placement units and 330,000 Class A ordinary shares underlying the private placement warrants comprising part of such
private placement units and (iii) 150,000 Class A ordinary shares comprising part of the private placement units issued upon conversion
of working capital loans and 75,000 Class A ordinary shares underlying the private placement warrants included in such private
placement units. The number of warrants includes up to 330,000 private placement warrants included in the private placement units and
75,000 private placement warrants comprising part of the private placement units issued upon the conversion of working capital
loans. The holders of these securities are entitled to make up to three demands, excluding short form demands, that we register such
securities. In addition, the