Company: BLUWU
Filing Date: 2025-02-20
Form Type: S-1
Source: 0001493152-25-007630
Chunk: 42

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-02-20
Form: S-1
Chunk 42
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 own at the applicable time          
 in favor of our initial business combination or (iii) refrain from exercising their right to redeem their public shares at the time       
 of our initial business combination. The non-managing sponsor investors will have the same rights to the funds held in the trust          
 account with respect to the Class A ordinary shares comprising part of the units they may purchase in this offering as the rights         
 afforded to our other public shareholders. However, if the non-managing sponsor investors purchase all of the units for which they        
 have expressed to us an interest in purchasing or otherwise hold a substantial number of our units, then the non-managing sponsor         
 investors will potentially have different interests than our other public shareholders in approving our initial business combination      
 and otherwise exercising their rights as public shareholders because of their indirect ownership of founder shares as further discussed   
 in this prospectus. Any trading decisions made by any of the foregoing entities will be made by them based on market conditions at        
 the time of the proposed sale or redemption. BTIG’s affiliates will not become non-managing sponsor investors or receive any              
 economic or other interest in the sponsor.                                                                                                |
| Anticipated                   
 expenses and funding sources: |     | Unless                                                                                                                                    
 and until we complete our initial business combination, no proceeds held in the trust account will be available for our use, except       
 the withdrawal of interest to pay our taxes and/or to redeem our public shares in connection with an amendment to our amended and         
 restated memorandum and articles of association, as described above. The proceeds held in the trust account will initially be invested    
 only in U.S. government treasury obligations with a maturity of 185 days or less or in money market funds meeting certain conditions      
 under Rule 2a-7 under the Investment Company Act which invest only in direct U.S. government treasury obligations; the holding of         
 these assets in this form is intended to be temporary and for the sole purpose of facilitating the intended business combination.         
 To mitigate the risk that we might be deemed to be an investment company for purposes of the Investment Company Act, which risk increases 
 the longer that we hold investments in the trust account, we may, at any time (based on our management team’s ongoing assessment          
 of all factors related to our potential status under the Investment Company Act), instruct the trustee to liquidate the investments       
 held in the trust account and instead to hold the funds in the trust account in cash or in an interest bearing demand deposit account     
 at a bank. Unless and until we complete our initial business combination,