Company: BLUWU
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023451
Chunk: 15

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 15
---
 the Warrants. In the event that the conditions in the two immediately preceding sentences are not satisfied with respect to
a Warrant, the holder of such Warrant will not be entitled to exercise such Warrant and such Warrant may have no value and expire worthless.
In no event will the Company be required to net cash settle any Warrant. In the event that a registration statement is not effective
for the exercised Warrants, the purchaser of a Unit containing such Warrant will have paid the full purchase price for the Unit solely
for the Class A ordinary share underlying such Unit.

Under
the terms of the warrant agreement, the Company will agree that, as soon as practicable, but in no event later than 20 business days
after the closing of its Business Combination, it will use commercially reasonable efforts to file with the SEC a post-effective amendment
to the registration statement for the Initial Public Offering or a new registration statement covering the registration under the Securities
Act of the Class A ordinary shares issuable upon exercise of the Warrants and thereafter will use its commercially reasonable efforts
to cause the same to become effective within 60 business days following the Company’s initial Business Combination and to maintain
a current prospectus relating to the Class A ordinary shares issuable upon exercise of the Warrants until the expiration of the Warrants
in accordance with the provisions of the warrant agreement. If a registration statement covering the Class A ordinary shares issuable
upon exercise of the Warrants is not effective by the sixtieth (60th) business day after the closing of the initial Business
Combination, Warrant holders may, until such time as there is an effective registration statement and during any period when the Company
will have failed to maintain an effective registration statement, exercise Warrants on a “cashless basis” in accordance with
Section 3(a)(9) of the Securities Act or another exemption. Notwithstanding the above, if the Class A ordinary shares are at the time
of any exercise of a Warrant not listed on a national securities exchange such that they satisfy the definition of a “covered security”
under Section 18(b)(1) of the Securities Act, the Company may, at its option, require holders of Public Warrants who exercise their warrants
to do so on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act and, in the event the Company so
elects, the Company will not be required to file or maintain in effect a registration statement, and