Company: BLUWU
Filing Date: 2025-03-31
Form Type: S-1/A
Source: 0001641172-25-001410
Chunk: 11

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-03-31
Form: S-1/A
Chunk 11
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 $0.20 per unit sold in this offering, or $4,000,000 in the aggregate (or $4,600,000 in the    
 aggregate if the underwriters’ over-allotment option is exercised in full), payable           
 to BTIG, LLC upon the closing of this offering. Also includes $0.35 per unit sold in this     
 offering, or 3.5% of the gross proceeds of the offering, or $7,000,000 in the aggregate (or   
 up to $8,050,000 in the aggregate if the underwriters’ over-allotment option is exercised     
 in full) payable to BTIG, LLC for deferred underwriting commissions to be deposited in a      
 trust account located in the United States and released to BTIG, LLC only upon the completion 
 of an initial business combination. The deferred underwriting commissions will be payable     
 as follows: (i) $0.30 per unit sold in this offering will be paid to BTIG, LLC in cash upon   
 the closing of the initial business combination and (ii) $0.05 per unit sold in this offering 
 will be payable to BTIG, LLC in cash (the “Allocable Amount”), provided that                  
 we and our sponsor have the right, in our and our sponsor’s discretion, to reallocate         
 any portion of the Allocable Amount to third parties not participating in this offering (but  
 who are members of FINRA) that assist us in consummating the initial business combination.    
 See also “Underwriting” for a description of compensation and other items of                  
 value payable to the underwriters.                                                            |

Of the proceeds we receive from this offering and the sale of the private placement units described in this prospectus, $200.0 million, or $230.0 million if the underwriters’ overallotment option is exercised in full ($10.00 per unit in either case), will be placed into a U.S.-based trust account with Continental Stock Transfer & Trust Company acting as trustee.

Because our sponsor acquired the founder shares at a nominal price, our public shareholders will incur an immediate and substantial dilution upon the closing of this offering, assuming no value is ascribed to the warrants included in the units. Further, the Class A ordinary shares issuable in connection with the conversion of the founder shares may result in material dilution to our public shareholders due to the anti-dilution rights of our founder shares that may result in an issuance of Class A ordinary shares on a