Company: BLUWU
Filing Date: 2025-02-20
Form Type: S-1
Source: 0001493152-25-007630
Chunk: 48

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-02-20
Form: S-1
Chunk 48
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 public shares and distribution and liquidation if no initial business combination: | Our                                                                                                                                        
 amended and restated memorandum and articles of association provide that we will have only the completion window to complete our           
 initial business combination. If we have not completed our initial business combination within such time period, we will (i) cease         
 all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days           
 thereafter (and subject to lawfully available funds therefor), redeem the public shares, at a per-share price, payable in cash, equal      
 to the aggregate amount then on deposit in the trust account, including interest earned on the funds held in the trust account (which      
 interest shall be net of taxes and less up to $100,000 of interest to pay dissolution expenses), divided by the number of then-outstanding 
 public shares, which redemption will completely extinguish public shareholders’ rights as shareholders (including the right                
 to receive further liquidating distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible             
 following such redemption, subject to the approval of our remaining shareholders and our board of directors, liquidate and dissolve,       
 subject in each case to our obligations under Cayman Islands law to provide for claims of creditors and the requirements of other          
 applicable law. There will be no redemption rights or liquidating distributions with respect to our warrants, which will expire worthless  
 if we fail to complete our initial business combination within the completion window.                                                      
 Our                                                                                                                                        
 sponsor, officers and directors have entered into a letter agreement with us, pursuant to which they have waived their rights to           
 liquidating distributions from the trust account with respect to any founder shares and private placement shares held by them if           
 we fail to complete our initial business combination within the completion window, although they will be entitled to liquidating           
 distributions from assets outside the trust account. However, if our initial shareholders or management team acquire public shares         
 in or after this offering, they will be entitled to liquidating distributions from the trust account with respect to such public           
 shares if we fail to complete our initial business combination within the completion window.                                               |
|                                                                                       | The underwriters have agreed                                                                                                               
 to waive their rights to their deferred underwriting commission held in the trust account in the event we do not complete our initial      
 business combination within the completion window and, in such event, such amounts will be included with the funds held in the trust       
 account that will be available to fund the redemption