Company: BLUWU
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024010
Chunk: 126

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 126
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 total of 10,000,000 Class B ordinary shares at par value of $0.0001
each. On December 3, 2025, the Sponsor had initially purchased 5,750,000 Class B ordinary shares for $25,000, or $0.0004 per share. On
June 9, 2025, the Company issued an additional 575,000 Class B ordinary shares to the Sponsor through a share capitalization for no additional
consideration, resulting in 6,325,000 Class B ordinary shares issued and outstanding. Accordingly, at June 30, 2025, there were 6,325,000
Class B ordinary shares were issued and outstanding.

The
founder shares will automatically convert into Class A ordinary shares (which such Class A ordinary shares delivered upon conversion
will not have any redemption rights or be entitled to liquidating distributions from the Trust Account if the Company fails to consummate
an initial Business Combination) concurrently with or immediately following the consummation of an initial Business Combination or earlier
at the option of the holder on a one-for-one basis, subject to adjustment for share sub-divisions, share capitalizations, reorganizations,
recapitalizations and the like, and subject to further adjustment as provided herein. In the case that additional Class A ordinary shares,
or any other equity-linked securities, are issued or deemed issued in excess of the amounts sold in the Initial Public Offering and related
to or in connection with the closing of the initial business combination, the ratio at which Class B ordinary shares convert into Class
A ordinary shares will be adjusted (unless the holders of a majority of the outstanding Class B ordinary shares agree to waive such adjustment
with respect to any such issuance or deemed issuance) so that the number of Class A ordinary shares issuable upon conversion of all Class
B ordinary shares will equal, in the aggregate, 20% of the sum of (i) the total number of all Class A ordinary shares outstanding upon
the completion of the Initial Public Offering (including any Class A ordinary shares issued pursuant to the underwriters’ over-allotment
option and excluding the Class A ordinary shares comprising part of the Private Placement Units and the Class A ordinary shares underlying
the Private Placement Warrants issued to the Sponsor), plus (ii) all Class A ordinary shares and equity-linked securities issued or deemed
issued, in connection with the closing of the initial Business Combination (excluding any shares or equity-linked securities issued,
or to be issued,