Company: BLUWU
Filing Date: 2025-03-31
Form Type: S-1/A
Source: 0001641172-25-001410
Chunk: 45

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-03-31
Form: S-1/A
Chunk 45
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 validly submitted for                
 redemption plus any amount required to satisfy cash conditions pursuant to the terms of the proposed initial business combination          
 exceed the aggregate amount of cash available to us, we will not complete the initial business combination or redeem any shares,           
 and all Class A ordinary shares submitted for redemption will be returned to the holders thereof. We may, however, raise funds             
 through the issuance of equity-linked securities or through loans, advances or other indebtedness in connection with our initial           
 business combination, including pursuant to forward purchase agreements or backstop arrangements we may enter into following consummation  
 of this offering, in order to, among other reasons, satisfy such net tangible assets or minimum cash requirements.                         |

| 32 |

| Limitation on redemption rights                                                                      
 of shareholders holding 15% or more of the shares sold in this offering if we hold shareholder vote: | Notwithstanding                                                                                                                          
 the foregoing redemption rights, if we seek shareholder approval of our initial business combination and we do not conduct redemptions   
 in connection with our initial business combination pursuant to the tender offer rules, our amended and restated memorandum and articles 
 of association provide that a public shareholder, together with any affiliate of such shareholder or any other person with whom such     
 shareholder is acting in concert or as a “group” (as defined under Section 13 of the Exchange Act), will be                              
 restricted from redeeming its shares with respect to more than an aggregate of 15% of the shares sold in this offering without our       
 prior consent. We believe the restriction described above will discourage shareholders from accumulating large blocks of shares,         
 and subsequent attempts by such holders to use their ability to redeem their shares as a means to force us or our management to purchase 
 their shares at a significant premium to the then-current market price or on other undesirable terms. Absent this provision, a public    
 shareholder holding more than an aggregate of 15% of the shares sold in this offering could threaten to exercise its redemption rights   
 against a business combination if such holder’s shares are not purchased by us, our sponsor or our management at a premium               
 to the then-current market price or on other undesirable terms. By limiting our shareholders’ ability to redeem to no more               
 than 15% of the shares sold in this offering, we believe we will limit the ability of a small group of shareholders to unreasonably      
 attempt to block our ability to complete our initial business combination, particularly in connection with a business combination        
 with a target that requires as a closing condition that we have a