Company: BLUWU
Filing Date: 2025-02-20
Form Type: S-1
Source: 0001493152-25-007630
Chunk: 32

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-02-20
Form: S-1
Chunk 32
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, as applicable, prior to such issuance) (the          
 “Newly Issued Price”), (y) the aggregate gross proceeds from such issuances represent more than 60% of the total equity                   
 proceeds (including from such issuances and this offering), and interest thereon, available for the funding of our initial business       
 combination on the date of the consummation of our initial business combination (net of redemptions), and (z) the volume weighted         
 average trading price of our Class A ordinary shares during the 20 trading day period starting on the trading day prior to the day        
 on which we consummate our initial business combination (such price, the “Market Value”) is below $9.20 per share, then                   
 the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the higher of the Market Value and       
 the Newly Issued Price, and the $18.00 per share redemption trigger prices described below under “Redemption of warrants                  
 when the price per Class A ordinary share equals or exceeds $18.00” will be adjusted (to the nearest cent) to be equal                    
 to 180% of the higher of the Market Value and the Newly Issued Price.                                                                     |
| Exercise 
 period:  |     | The                                                                                                                                       
 warrants will become exercisable at the later of 12 months from the closing of this offering and 30 days after the completion of          
 our initial business combination, provided that we have an effective registration statement under the Securities Act covering the         
 Class A ordinary shares issuable upon exercise of the warrants and a current prospectus relating to them is available and such shares     
 are registered, qualified or exempt from registration under the securities, or blue sky, laws of the state of residence of the holder     
 (or we permit holders to exercise their warrants on a cashless basis under the circumstances specified in the warrant agreement).         
 If and when the warrants become redeemable by us, we may exercise our redemption right even if we are unable to register or qualify       
 the underlying securities for sale under all applicable state securities laws.                                                            |
|          |     | We                                                                                                                                        
 are not registering the Class A ordinary shares issuable upon exercise of the warrants at this time. We have agreed that as soon          
 as practicable after the closing of our initial business combination, we will use our commercially reasonable efforts to file with        
 the SEC a registration statement covering the Class A ordinary shares issuable upon exercise of the warrants, and we will use