Company: BLUWU
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023451
Chunk: 26

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 26
---
 than one-for-one basis.

    15

Holders
of record of the Company’s Class A ordinary shares and Class B ordinary shares are entitled to one vote for each share held on
all matters to be voted on by shareholders. Unless specified in the Company’s amended and restated memorandum and articles of association
or as required by the Companies Act or stock exchange rules, an ordinary resolution under Cayman Islands law and the Company’s
amended and restated memorandum and articles of association, which requires the affirmative vote of at least a majority of the votes
cast by such shareholders as, being entitled to do so, vote in person or, where proxies are allowed, by proxy at the applicable general
meeting of the Company is generally required to approve any matter voted on by the Company’s shareholders. Approval of certain
actions require a special resolution under Cayman Islands law, which (except as specified below) requires the affirmative vote of at
least two-thirds of the votes cast by such shareholders as, being entitled to do so, vote in person or, where proxies are allowed, by
proxy at the applicable general meeting, and pursuant to the Company’s amended and restated memorandum and articles of association,
such actions include amending the Company’s amended and restated memorandum and articles of association and approving a statutory
merger or consolidation with another company. There is no cumulative voting with respect to the appointment of directors, meaning, following
the Company’s initial Business Combination, the holders of more than 50% of the Company’s ordinary shares voted for the appointment
of directors can elect all of the directors. Prior to the consummation of an initial Business Combination, only holders of the Company’s
Class B ordinary shares will (i) have the right to vote on the appointment and removal of directors and (ii) be entitled to vote on continuing
the Company in a jurisdiction outside the Cayman Islands (including any special resolution required to amend the Company’s constitutional
documents or to adopt new constitutional documents, in each case, as a result of approving a transfer by way of continuation in a jurisdiction
outside the Cayman Islands). Holders of the Company’s Class A ordinary shares will not be entitled to vote on these matters during
such time. These provisions of the Company’s amended and restated memorandum and articles of association may only be amended if
approved by a special resolution passed by the affirmative vote of at least 90% (or, where such amendment is proposed in respect of the
consummation of an initial