Company: BLUWU
Filing Date: 2025-02-20
Form Type: S-1
Source: 0001493152-25-007630
Chunk: 4

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-02-20
Form: S-1
Chunk 4
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 our sponsor has agreed to purchase 400,000 private placement units (or 430,000 private placement units if the underwriters’
over-allotment option is exercised in full) and BTIG, LLC has agreed to purchase 200,000 private placement units (or 230,000 private
placement units if the underwriters’ over-allotment option is exercised in full). [____] institutional investors (none of which
are affiliated with any member of our management, our sponsor or any other investor), which we refer to as the “non-managing sponsor
investors” throughout this prospectus, have expressed an interest to indirectly purchase, through the purchase of non-managing
sponsor membership interests, an aggregate of 350,000 (or 380,000 if the underwriters’ over-allotment option is exercised in full)
of the 400,000 private placement units (or 430,000 private placement units if the underwriters’ over-allotment option is exercised
in full) being purchased by our sponsor at a price of $10.00 per unit ($3,500,000 in the aggregate (or $3,800,000 if the underwriters’
over-allotment option is exercised in full)) in a private placement that will close simultaneously with the closing of this offering.
Subject to each non-managing sponsor investor purchasing, through the sponsor, the private placement units allocated to it in connection
with the closing of this offering, the sponsor will issue membership interests at a nominal purchase price ($0.004) to the non-managing
sponsor investors reflecting interests in an aggregate of [____] founder shares (or [____] founder shares if the underwriters’
over-allotment option is exercised in full) held by the sponsor. Due to such nominal purchase price, the non-managing sponsor investors
will have the potential to realize enhanced economic returns from its investment as compared to other investors in the offering. Under
no circumstances will we issue more than an aggregate of 660,000 private placement units in this offering. As a result, the number of
private placement units purchased by the non-managing sponsor investors through the sponsor, if any, will proportionally reduce the number
of private placement units that would otherwise be purchased by the managing member of the sponsor through the sponsor. The non-managing
sponsor investors will have no right to vote the founder shares, private placement units or securities comprising the placement units
that it holds indirectly through its membership interests in the