Company: BLUWU
Filing Date: 2025-05-23
Form Type: S-1/A
Source: 0001641172-25-012302
Chunk: 206

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-05-23
Form: S-1/A
Chunk 206
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 not obligated      
 to contribute any specific number of hours per week to our affairs.                                                                           |
| ● | Our                                                                                                                                           
 initial shareholders purchased founder shares prior to the date of this prospectus and will purchase private placement units in a             
 transaction that will close simultaneously with the closing of this offering. Our sponsor, officers and directors have entered into           
 a letter agreement with us, pursuant to which they have agreed to waive their redemption rights with respect to any shares held by            
 them in connection with the completion of our initial business combination. Additionally, our sponsor, officers and directors have            
 agreed to waive their rights to liquidating distributions from the trust account with respect to their founder shares and private             
 placement shares if we fail to complete our initial business combination within the prescribed time frame, although they will be              
 entitled to liquidating distributions from assets outside the trust account. If we do not complete our initial business combination           
 within the prescribed time frame, the private placement units (and the securities comprising such units) will be worthless. Furthermore,      
 our sponsor, officers and directors have agreed not to transfer, assign or sell any of their founder shares and any Class A ordinary          
 shares issuable upon conversion thereof until the earlier to occur of: (i) one year after the completion of our initial business              
 combination or (ii) the date following the completion of our initial business combination on which we complete a liquidation, merger,         
 share exchange or other similar transaction that results in all of our shareholders having the right to exchange their ordinary shares        
 for cash, securities or other property. Notwithstanding the foregoing, if the closing price of our Class A ordinary shares equals             
 or exceeds $12.00 per share (as adjusted for share sub-divisions, share capitalizations, reorganizations, recapitalizations and the           
 like) for any 20 trading days within any 30-trading day period commencing at least 150 days after our initial business combination,           
 the founder shares will be released from the lockup. The private placement units (including the securities comprising such units              
 and the Class A ordinary shares issuable upon exercise of the private placement warrants) will not be transferable until 30 days              
 following the completion of our initial business combination. Because each of our officers and director nominees will own ordinary            
 shares or units directly or indirectly, they may have a conflict of interest in determining whether a particular target business              
 is an appropriate business with which to effectuate our initial business combination.                                                         |
| ● | Our                                                                                                                                           
 sponsor and members of our