Company: BLUWU
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024010
Chunk: 59

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 59
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)
  
    Net cash used in investing activities 
     (253,000,000)

    Cash Flows from Financing Activities: 

    Proceeds from issuance of Class A ordinary shares 
     253,000,000 
  
    Proceeds from sale of private placement units 
     6,830,000 
  
    Payment of underwriting fees and reimbursements 
     (5,135,000)
  
    Payment of promissory note – related party 
     (242,397)
  
    Due from related party, net 
     (28,715)
  
    Payment of deferred offering costs 
     (296,738)
  
    Net cash provided by financing activities 
     254,127,150 

    Net Change in Cash 
     1,039,666 
  
    Cash – Beginning of period 
     — 
  
    Cash – End of period 
    $1,039,666 

    Supplemental Non-Cash Investing and Financing Activities: 

    Remeasurement of Class A ordinary shares subject to possible redemption 
    $18,317,089 
  
    Deferred offering costs paid by Sponsor under promissory note – related party 
    $93,450 
  
    Prepaid expenses paid by Sponsor under promissory note – related party 
    $5,833 

The
accompanying notes are an integral part of these unaudited condensed financial statements.

4 

BLUE
WATER ACQUISITION CORP. III

NOTES
TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

JUNE
30, 2025

Note
1 — Organization and Business Operations

Blue
Water Acquisition Corp. III (the “Company”) is a blank check company incorporated as a Cayman Islands exempted company on
November 1, 2024. The Company was incorporated for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition,
share purchase, reorganization or similar business combination with one or more businesses (the “Business Combination”).
The Company has not selected any specific Business Combination target, and the Company has not, nor has anyone on its behalf, engaged
in any substantive discussions, directly or indirectly, with any Business Combination target with respect to an initial Business Combination
with the Company.

As
of June 30, 2025, the Company has not commenced any operations. All activity for the period from November 1, 202