Company: BLUWU
Filing Date: 2025-03-31
Form Type: S-1/A
Source: 0001641172-25-001410
Chunk: 41

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-03-31
Form: S-1/A
Chunk 41
---
 or more business combinations having an aggregate fair market value of at least 80% of the        
 value of the assets held in the trust account (excluding the deferred underwriting commissions and taxes payable on the interest          
 earned on the trust account). Our board of directors will make the determination as to the fair market value of our initial business      
 combination. If our board of directors is not able to independently determine the fair market value of our initial business combination,  
 we will obtain an opinion from an independent investment banking firm or another independent entity that commonly renders valuation       
 opinions with respect to the satisfaction of such criteria. While we consider it likely that our board of directors will be able          
 to make an independent determination of the fair market value of our initial business combination, it may be unable to do so if it        
 is less familiar or experienced with the business of a particular target or if there is a significant amount of uncertainty as to         
 the value of the target’s assets or prospects.                                                                                            |
|                                                 |     | Additionally,                                                                                                                             
 pursuant to Nasdaq rules, any initial business combination must be approved by a majority of our independent directors. We will complete  
 our initial business combination only if the post-transaction company in which our public shareholders own shares will own or acquire     
 50% or more of the outstanding voting securities of the target or is otherwise not required to register as an investment company          
 under the Investment Company Act. Even if the post-transaction company owns or acquires 50% or more of the voting securities of the       
 target, our shareholders prior to our initial business combination may collectively own a minority interest in the post business          
 combination company, depending on valuations ascribed to the target and us in the business combination transaction. For example,          
 we could pursue a transaction in which we issue a substantial number of new shares in exchange for all of the outstanding capital         
 stock, shares or other equity interests of a target. In this case, we would acquire a 100% controlling interest in the target. However,   
 as a result of the issuance of a substantial number of new shares, our shareholders immediately prior to our initial business combination 
 could own less than a majority of our issued and outstanding shares subsequent to our initial business combination.                       |
|                                                 |     | If                                                                                                                                        
 less than 100% of the equity interests or assets of a target business or businesses are owned or acquired by the post-transaction         
 company, the portion of such business or businesses that is owned or acquired is what will be taken into account for purposes