Company: BLUWU
Filing Date: 2025-03-31
Form Type: S-1/A
Source: 0001641172-25-001410
Chunk: 229

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-03-31
Form: S-1/A
Chunk 229
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 salary or fee in an amount that constitutes a market standard for           
 comparable transactions, which, if made prior to the completion of our initial business combination, will be paid from funds held outside  
 the trust account;                                                                                                                         |
| ● | Reimbursement                                                                                                                              
 for any out-of-pocket expenses related to identifying, investigating, negotiating and completing an initial business combination;          
 and                                                                                                                                        |
| ● | Repayment                                                                                                                                  
 of loans which may be made by our sponsor or an affiliate of our sponsor or certain of our officers and directors to finance transaction   
 costs in connection with an intended initial business combination. Up to $1,500,000 of such loans may be convertible into units of         
 the post-business combination entity at a price of $10.00 per unit at the option of the lender. Such units would be identical to           
 the private placement units. Except for the foregoing, the terms of such loans, if any, have not been determined and no written agreements 
 exist with respect to such loans.                                                                                                          |

| 154 |

<div align='center'>Description of securities</div>

We are a Cayman Islands exempted company (company number 415322) and our affairs are governed by our amended and restated memorandum and articles of association, the Companies Act and the common law of the Cayman Islands. Pursuant to our amended and restated memorandum and articles of association which will be adopted upon the consummation of this offering, we will be authorized to issue 485,000,000 Class A ordinary shares, $0.0001 par value each, 10,000,000 Class B ordinary shares, $0.0001 par value each as well as 5,000,000 preference shares, $0.0001 par value each. The following description summarizes certain terms of our shares as set out more particularly in our amended and restated memorandum and articles of association. Because it is only a summary, it may not contain all the information that is important to you.

Units

Public Units

Each unit has an offering price of $10.00 and consists of one Class A ordinary share and one-half of one warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share, subject to adjustment as described in this prospectus. Pursuant to the warrant agreement, a warrant holder may exercise its warrants only for a whole number of the company’s Class A ordinary shares. This means only a whole warrant may be exercised at any