Company: BLUWU
Filing Date: 2025-03-31
Form Type: S-1/A
Source: 0001641172-25-001410
Chunk: 267

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-03-31
Form: S-1/A
Chunk 267
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 at the time of, or at any time during the three months preceding, a sale and (ii) we are subject to the Exchange Act periodic reporting requirements for at least three months before the sale and have filed all required reports under Section 13 or 15(d) of the Exchange Act during the 12 months (or such shorter period as we were required to file reports) preceding the sale.

Persons who have beneficially owned restricted shares or warrants for at least six months but who are our affiliates at the time of, or at any time during the three months preceding, a sale, would be subject to additional restrictions, by which such person would be entitled to sell within any three-month period only a number of securities that does not exceed the greater of:

| ● | 1%                                                                                                                                    
 of the total number of Class A ordinary shares then outstanding, which will equal 256,000 shares immediately after this offering      
 (or 294,100 if the underwriters exercise in full their over-allotment option); or                                                     |
| ● | the                                                                                                                                   
 average weekly reported trading volume of the Class A ordinary shares during the four calendar weeks preceding the filing of a notice 
 on Form 144 with respect to the sale.                                                                                                 |

Sales by our affiliates under Rule 144 are also limited by manner of sale provisions and notice requirements and to the availability of current public information about us.

Restrictions on the Use of Rule 144 by Shell Companies or Former Shell Companies

Rule 144 is not available for the resale of securities initially issued by shell companies (other than business combination related shell companies) or issuers that have been at any time previously a shell company. However, Rule 144 also includes an important exception to this prohibition if the following conditions are met:

| ● | the                                                                                                                                
 issuer of the securities that was formerly a shell company has ceased to be a shell company;                                       |
| ● | the                                                                                                                                
 issuer of the securities is subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act;                      |
| ● | the                                                                                                                                
 issuer of the securities has filed all Exchange Act reports and material required to be filed, as applicable, during the preceding 
 12 months (or such shorter period that the issuer was required to file such reports and materials), other than Current Reports on  
 Form 8-K; and                                                                                                                      |
| ● | at                                                                                                                                 
 least one year has elapsed from the time that the issuer filed current Form 10 type information with the SEC reflecting its status 
 as