Company: BLUWU
Filing Date: 2025-05-23
Form Type: S-1/A
Source: 0001641172-25-012302
Chunk: 211

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-05-23
Form: S-1/A
Chunk 211
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 Percentage of       
 Outstanding Class A 
 Ordinary Shares and 
 Class B Ordinary    
 Shares(1)           |      |   |
|                                          | 2,800,000 |     |                 | 350,000 |     |                 | 9,000,000 |     |                     | 45.4 | % |     |                     | 47.5 | % |

| (1) | The non-managing sponsor investors have expressed to us                                                                        
 an interest in purchasing up to an aggregate of approximately $90 million of the units in this offering at the offering        
 price (assuming no exercise of the underwriters’ over-allotment option). There can be no assurance that the non-managing       
 sponsor investors will acquire any units, either directly or indirectly, in this offering, or as to the amount of the units    
 the non-managing sponsor investors will retain, if any, prior to or upon the consummation of our initial business combination. |

No non-managing sponsor investor will own a material amount of the interests of the sponsor or more than 9.9% of the equity interests in the sponsor, and the non-managing sponsor investors do not, under the sponsor’s operating agreement, have the right to take part in or interfere in any manner with the management, conduct or control of the business of the sponsor nor have the right to vote on any matter relating to the sponsor, its business or affairs. In addition, except in the case of incapacity, the non-managing sponsor investors have no right to remove the managing member of the sponsor. Further, our securities owned by the sponsor may not be withdrawn by any non-managing sponsor investor, and such securities would only be distributed to members pursuant to the terms of the sponsor’s operating agreement in connection with a business combination (absent the dissolution of the sponsor). The managing member of the sponsor also has the authority to forfeit our securities held by the sponsor in connection with a business combination without the approval of the non-managing sponsor investors as long as all members are treated equally. Accordingly, none of the non-managing sponsor investors will have a material interest in the sponsor. In addition, no non-managing sponsor member will own more than 9.9% of the equity interests in us.

Private Placement Units

Our sponsor and BTIG, the representative of the underwriters, have committed, pursuant to written agreements, to purchase an aggregate of 600,000 private placement units (or 660,000 private placement units if the underwriters