Company: BLUWU
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024010
Chunk: 128

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 128
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 of the Company’s ordinary shares voted for the appointment
of directors can elect all of the directors. Prior to the consummation of an initial Business Combination, only holders of the Company’s
Class B ordinary shares will (i) have the right to vote on the appointment and removal of directors and (ii) be entitled to vote on continuing
the Company in a jurisdiction outside the Cayman Islands (including any special resolution required to amend the Company’s constitutional
documents or to adopt new constitutional documents, in each case, as a result of approving a transfer by way of continuation in a jurisdiction
outside the Cayman Islands). Holders of the Company’s Class A ordinary shares will not be entitled to vote on these matters during
such time. These provisions of the Company’s amended and restated memorandum and articles of association may only be amended if
approved by a special resolution passed by the affirmative vote of at least 90% (or, where such amendment is proposed in respect of the
consummation of an initial Business Combination, two-thirds) of the votes cast by such shareholders as, being entitled to do so, vote
in person or, where proxies are allowed, by proxy at the applicable general meeting of the Company.

Note
9 – Fair Value Measurements

The
Company performed a non-recurring fair value measurement on the Public Warrants on date of the consummation of the Initial Public Offering
to determine the allocation of the proceeds from the Units issued in the Initial Public Offering between the Class A ordinary shares
and the Public Warrants. The Company applied the residual allocation method, first by assigning the value of the Warrants and then deriving
the value of the Class A ordinary shares from the $10.00 Unit price.

The
fair value of the Public Warrants as of July 11, 2025, was $3,340,119, or $0.26 per Public Warrant. The fair value of Public Warrants
was determined using Black-Scholes Simulation Model. The Public Warrants have been classified within shareholders’ deficit and
will not require remeasurement after issuance. The following table presents the quantitative information regarding market assumptions
used in the valuation of the Public Warrants:

 Schedule
of Quantitative Information Regarding Market Assumption

    June 11, 2025 
  
    Implied ordinary share price 
    $9.87 
  
    Exercise price 
    $11.50 
  
    Simulation term (years) 
     6.50