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

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 14
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 that any other recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a
material effect on the Company’s financial statement.

    10

Note
3 — Initial Public Offering

Pursuant
to the Initial Public Offering on June 11, 2025, the Company sold 25,300,000 Units at a purchase price of $10.00 per Unit, which includes
the full exercise of the underwriters’ over-allotment option in the amount of 3,300,000 Units. Each Unit consists of one Class
A ordinary share and one-half of one redeemable Public Warrant. Each whole Public Warrant entitles the holder to purchase one Class A
ordinary share at a price of $11.50 per share, subject to adjustment. Each Public Warrant will become exercisable at the later of 12
months from the closing of the Initial Public Offering and 30 days after the completion of the initial Business Combination and will
expire five years after the completion of the initial Business Combination, or earlier upon redemption or liquidation.

Warrants
— As of September 30, 2025, there were 12,991,500 Warrants outstanding, including 12,650,000 Public Warrants and 341,500 Private
Placement Warrants. Each whole Warrant entitles the holder to purchase one Class A ordinary share at a price of $11.50 per share, subject
to adjustment as discussed herein. The Warrants cannot be exercised until the later of 12 months from the closing of the Initial Public
Offering and 30 days after the completion of the initial Business Combination, and will expire at 5:00 p.m., New York City time, five
years after the completion of the initial Business Combination or earlier upon redemption or liquidation.

The
Company will not be obligated to deliver any Class A ordinary shares pursuant to the exercise of a Warrant and will have no obligation
to settle such Warrant exercise unless a registration statement under the Securities Act with respect to the Class A ordinary shares
underlying the Warrants is then effective and a prospectus relating thereto is current. No Warrant will be exercisable and the Company
will not be obligated to issue a Class A ordinary share upon exercise of a Warrant unless the Class A ordinary share issuable upon such
Warrant exercise has been registered, qualified or deemed to be exempt under the securities laws of the state of residence of the registered
holder of