Company: BLUWU
Filing Date: 2025-05-23
Form Type: S-1/A
Source: 0001641172-25-012302
Chunk: 318

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-05-23
Form: S-1/A
Chunk 318
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 of the Class A ordinary shares over the exercise price of the warrants by (y) the fair market value. The “fair market value” is the average reported closing price of the Class A ordinary shares for the 10 trading days ending on the third trading day prior to the date on which the notice of exercise is received by the warrant agent or on which the notice of redemption is sent to the holders of warrants, as applicable.

Redemption of Warrants When the Price per Class A Ordinary Share Equals or Exceeds $18.00: The Company may redeem the outstanding Warrants:

| ● | in                     
 whole and not in part; |

| ● | at                            
 a price of $0.01 per Warrant; |

| ● | upon                                                                             
 a minimum of 30 days’ prior written notice of redemption (the “30-day redemption 
 period”); and                                                                    |

| ● | if,                                                                                            
 and only if, the closing price of the Class A ordinary shares equals or exceeds $18.00 per     
 share (as adjusted for adjustments to the number of shares issuable upon exercise or the       
 exercise price of a Warrant) for any 20 trading days within a 30-trading day period commencing 
 at least 30 days after completion of the Company’s initial Business Combination and            
 ending three business days before the Company sends the notice of redemption to the Warrant    
 holders.                                                                                       |

Additionally, if the number of outstanding Class A ordinary shares is increased by a share capitalization payable in Class A ordinary shares, or by a subdivision of ordinary shares or other similar event, then, on the effective date of such share capitalization, subdivision or similar event, the number of Class A ordinary shares issuable on exercise of each Warrant will be increased in proportion to such increase in the outstanding ordinary shares. A rights offering made to all or substantially all holders of ordinary shares entitling holders to purchase Class A ordinary shares at a price less than the fair market value will be deemed a share capitalization of a number of Class A ordinary shares equal to the product of (i) the number of Class A ordinary shares actually sold in such rights offering (or issuable under any other equity securities sold in such rights offering that are convertible into or exercisable for Class A ordinary shares) and (ii) the quotient of (x) the price per Class A ordinary share paid in such rights offering and (y) the fair market value. For these purposes (i) if the rights offering is for securities convertible into or