Company: BLUWU
Filing Date: 2025-02-20
Form Type: S-1
Source: 0001493152-25-007630
Chunk: 222

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-02-20
Form: S-1
Chunk 222
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 of our initial business combination, (ii) will be entitled to registration rights and (iii) with respect to private placement warrants included in the private placement units held by BTIG and/or its designees, will not be exercisable more than five years from the commencement of sales in this offering in accordance with FINRA Rule 5110(g)(8).

The non-managing sponsor investors have indicated an interest to indirectly purchase, through the purchase of non-managing sponsor membership interests, an aggregate of 350,000 (or 380,000 if the underwriters’ over-allotment option is exercised in full) of the 400,000 private placement units (or 430,000 private placement units if the underwriters’ over-allotment option is exercised in full) being purchased by our sponsor at a price of $10.00 per unit ($3,500,000 in the aggregate (or $3,800,000 if the underwriters’ over-allotment option is exercised in full)) in a private placement that will close simultaneously with the closing of this offering. Subject to each non-managing sponsor investor purchasing, through the sponsor, the private placement units allocated to it in connection with the closing of this offering, the sponsor will issue membership interests at a nominal purchase price ($0.004) to the non-managing sponsor investors reflecting interests in an aggregate of [____] founder shares (or [____] founder shares if the underwriters’ over-allotment option is exercised in full) held by the sponsor. The private placement units held by the sponsor, including the private placement units represented by the non-managing sponsor investors’ membership interests, are subject to a lock-up as described in ‘‘ Principal Shareholders — Restrictions on Transfers of Founder Shares and Private Placement Units’’; however, the non-managing sponsor investors will not be subject to transfer restrictions or a lock-up agreement on any Class A ordinary shares that they may purchase in this offering.

Prior to or in connection with the completion of our initial business combination, there may be payment by the Company to our sponsor, officers or directors, or our or their affiliates, of a finder’s fee, advisory fee, consulting fee or success fee for any services they render in order to effectuate the completion of our initial business, which, if made prior to the completion of our initial business combination, will be paid from funds held outside the trust account.

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We will reimburse our sponsor or an affiliate of our sponsor in an amount equal to $10