Company: BLUWU
Filing Date: 2025-03-31
Form Type: S-1/A
Source: 0001641172-25-001410
Chunk: 5

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-03-31
Form: S-1/A
Chunk 5
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 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 sponsor. For a discussion of certain additional arrangements with the non-managing sponsor investors, see “Risk Factors — Risks Relating to our Search for, and Consummation of or Inability to Consummate, a Business Combination — Since our sponsor, officers and directors, any other holder of our founder shares, including any non-managing sponsor investors, may lose their entire investment in us if our initial business combination is not completed (other than with respect to public shares they may acquire during or after this offering), a conflict of interest may arise in determining whether a particular business combination target is appropriate for our initial business combination.”

The non-managing sponsor investors have expressed to us an interest in purchasing up to an aggregate of approximately $[_____] million of the units in this offering at the offering price (assuming the exercise in full of the underwriters’ over-allotment option), or up to [____]% of this offering. None of the non-managing sponsor investors has expressed to us an interest in purchasing more than 9.9% of the units to be sold in this offering. 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. Because these expressions of interest are not binding agreements or commitments to purchase, non-managing sponsor investors may determine to purchase fewer units in this offering, or none at all. In addition, the underwriters have full discretion to allocate the units to investors and may determine to sell fewer units to the non-managing sponsor investors, or none at all, and the purchase of the non-managing sponsor membership interests is not contingent upon the participation in this offering or vice-versa. Depending on how many units are purchased by