Company: BLUWU
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024010
Chunk: 88

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 88
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 SEC’s website at www.sec.gov. Except as expressly required by applicable securities
law, we disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information,
future events or otherwise.

Overview

We are a blank check company incorporated on November
1, 2024 as a Cayman Islands exempted company with no material operations of our own. We were formed for the purpose of effecting a merger,
amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses,
which we refer to as our initial business combination. We may pursue an initial business combination in any business or industry but expect
to focus on biotechnology, healthcare and technology companies. Our units include shares of a Cayman Islands blank check company instead
of the shares of the operating entities with whom we may combine. We intend to effectuate our initial business combination using cash
from the proceeds of the initial public offering and the private placement of the private placement units, the proceeds of the sale of
our shares in connection with our initial business combination (pursuant to forward purchase agreements or backstop agreements we may
enter into following the consummation of the initial public offering or otherwise), shares issued to the owners of the target, debt issued
to bank or other lenders or the owners of the target, other securities issuances, or a combination of the foregoing.

The
issuance of additional shares in connection with a business combination to the owners of the target or other investors:

    ●
    may
    significantly dilute the equity interest of investors in the initial public offering, which dilution would increase if the anti-dilution provisions
    in the Class B ordinary shares resulted in the issuance of Class A ordinary shares on a greater than one-to-one basis upon conversion
    of the Class B ordinary shares;

    ●
    may
    subordinate the rights of holders of Class A ordinary shares if preference shares are issued with rights senior to those afforded
    our Class A ordinary shares;

    ●
    could
    cause a change in control if a substantial number of our Class A ordinary shares are issued, which may affect, among other things,
    our ability to use our net operating loss carry forwards, if any, and could result in the resignation or removal of our present officers
    and directors;

    ●
    may
    have the effect of delaying or preventing a change of control of us by diluting the share ownership or