Company: BLUWU
Filing Date: 2025-03-31
Form Type: S-1/A
Source: 0001641172-25-001410
Chunk: 222

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-03-31
Form: S-1/A
Chunk 222
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 recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150            
 days after our initial business combination                                                                                                  |     | 30                                                        
 days after completion of our initial business combination |

Registration Rights

The holders of the (i)
founder shares, which were issued in a private placement prior to the closing of this offering, (ii) private placement units (and the
securities comprising such units and the Class A ordinary shares issuable upon exercise of the private placement warrants comprising
part of such units) which will be issued in a private placement simultaneously with the closing of this offering and (iii) private
placement units (and the securities comprising such units and the Class A ordinary shares issuable upon exercise of the private placement
warrants comprising part of such units) that may be issued upon conversion of working capital loans will have registration rights
to require us to register a sale of any of our securities held by them and any other securities of the company acquired by them prior
to the consummation of our initial business combination pursuant to a registration rights agreement to be signed prior to or on the effective
date of this offering. Pursuant to the registration rights agreement and assuming the underwriters exercise their over-allotment option
in full and $1,500,000 of working capital loans are converted into private placement units, we will be obligated to register up to 6,965,000
Class A ordinary shares and 405,000 warrants. The number of Class A ordinary shares includes (i) 5,750,000 Class A ordinary shares
to be issued upon conversion of the founder shares, (ii) 660,000 Class A ordinary shares comprising part of the private placement
units and 330,000 Class A ordinary shares underlying the private placement warrants comprising part of such private placement
units and (iii) 150,000 Class A ordinary shares comprising part of the private placement units issued upon conversion of working
capital loans and 75,000 Class A ordinary shares underlying the private placement warrants included in such private placement
units. The number of warrants includes up to 330,000 private placement warrants included in the private placement units and 75,000 private
placement warrants comprising part of the private placement units issued upon the conversion of working capital loans. The holders
of these securities are entitled to make up to three demands, excluding short form demands, that we register such securities. In addition,
the holders have certain “pig