Company: BLUWU
Filing Date: 2025-03-31
Form Type: S-1/A
Source: 0001641172-25-001410
Chunk: 44

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-03-31
Form: S-1/A
Chunk 44
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| If                                                                                                                                         
 we seek shareholder approval, we will complete our initial business combination only if we receive an ordinary resolution under Cayman     
 Islands law and our amended and restated memorandum and articles of association, which requires the affirmative vote of at least           
 a majority of the votes cast by such shareholders as, being entitled to do so, vote in person or, where proxies are allowed, by proxy      
 at the applicable general meeting of the company. A quorum for such meeting will be present if the holders of at least a majority          
 of issued and outstanding shares entitled to vote at the meeting are represented in person or by proxy. Our initial shareholders           
 will count toward this quorum and, pursuant to the letter agreement, our sponsor, officers and directors have agreed to vote their         
 founder shares, private placement shares and any public shares purchased during or after this offering (including in open market           
 and privately-negotiated transactions, aside from shares they may purchase in compliance with the requirements of Rule 14e-5 under         
 the Exchange Act, which would not be voted in favor of approving the business combination transaction) in favor of our initial business    
 combination. For purposes of seeking approval of an ordinary resolution, non-votes will have no effect on the approval of our initial      
 business combination once a quorum is obtained. As a result, in addition to our initial shareholders’ founder shares and private           
 placement shares, we would need 7,200,001, or 36.0%, of the 20,000,000 public shares sold in this offering to be voted in favor of         
 an initial business combination in order to have our initial business combination approved, assuming all outstanding shares are voted,     
 the over-allotment option is not exercised and the parties to the letter agreement do not acquire any Class A ordinary shares. Assuming    
 that only the holders of a majority of our issued and outstanding ordinary shares, representing a quorum under our amended and restated    
 memorandum and articles of association, vote their shares at a general meeting of the company, we would need 800,001, or 4.0%, of          
 the 20,000,000 public shares sold in this offering in addition to our founder shares and private placement shares to be voted in           
 favor of an initial business combination in order to approve an initial business combination. However, if our initial business combination 
 is structured as a statutory merger or consolidation with another company under Cayman Islands law, the approval of our initial business   
 combination will