Company: BLUWU
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024010
Chunk: 62

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 62
---
 bearing demand deposit account at a
bank. Except with respect to interest earned on the funds held in the Trust Account that may be released to the Company to pay its
taxes, if any, the proceeds from the Initial Public Offering and the sale of the Private Placement Units will not be released from
the Trust Account until the earliest of (i) the completion of the Company’s initial Business Combination, (ii) the redemption
of the Company’s Public Shares if the Company is unable to complete the initial Business Combination within 24 months from the
closing of the Initial Public Offering or by such earlier liquidation date as the Company’s board of directors may approve
(the “Completion Window”), subject to applicable law, or (iii) the redemption of the Company’s Public Shares
properly submitted in connection with a shareholder vote to amend the Company’s amended and restated memorandum and articles
of association to (A) modify the substance or timing of the Company’s obligation to allow redemption in connection with the
initial Business Combination or to redeem 100%
of the Company’s Public Shares if the Company has not consummated an initial Business Combination within the Completion Window
or (B) with respect to any other material provisions relating to shareholders’ rights or pre-initial Business Combination
activity. The proceeds deposited in the Trust Account could become subject to the claims of the Company’s creditors, if any,
which could have priority over the claims of the Company’s public shareholders.

    5 

The
Company will provide the Company’s public shareholders with the opportunity to redeem all or a portion of their Public Shares,
regardless of whether they abstain, vote for, or vote against, the initial Business Combination upon completion of the initial Business
Combination either (i) in connection with a general meeting called to approve the initial Business Combination or (ii) without a shareholder
vote by means of a tender offer. The decision as to whether the Company will seek shareholder approval of a proposed initial Business
Combination or conduct a tender offer will be made by the Company, solely in its discretion. The public shareholders will be entitled
to redeem their shares at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account calculated
as of two business days prior to the consummation of the initial Business Combination, including interest earned on the funds held in
the Trust Account (less taxes payable (but without deduction for any excise or similar tax that may be due or payable)), divided by the
number