Company: BLUWU
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024010
Chunk: 84

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 84
---
 Business Combination) concurrently with or immediately following the consummation of an initial Business Combination or earlier
at the option of the holder on a one-for-one basis, subject to adjustment for share sub-divisions, share capitalizations, reorganizations,
recapitalizations and the like, and subject to further adjustment as provided herein. In the case that additional Class A ordinary shares,
or any other equity-linked securities, are issued or deemed issued in excess of the amounts sold in the Initial Public Offering and related
to or in connection with the closing of the initial business combination, the ratio at which Class B ordinary shares convert into Class
A ordinary shares will be adjusted (unless the holders of a majority of the outstanding Class B ordinary shares agree to waive such adjustment
with respect to any such issuance or deemed issuance) so that the number of Class A ordinary shares issuable upon conversion of all Class
B ordinary shares will equal, in the aggregate, 20% of the sum of (i) the total number of all Class A ordinary shares outstanding upon
the completion of the Initial Public Offering (including any Class A ordinary shares issued pursuant to the underwriters’ over-allotment
option and excluding the Class A ordinary shares comprising part of the Private Placement Units and the Class A ordinary shares underlying
the Private Placement Warrants issued to the Sponsor), plus (ii) all Class A ordinary shares and equity-linked securities issued or deemed
issued, in connection with the closing of the initial Business Combination (excluding any shares or equity-linked securities issued,
or to be issued, to any seller in the initial Business Combination and any private placement-equivalent units issued to the Sponsor or
any of its affiliates or to the Company’s officers or directors upon conversion of Working Capital Loans) minus (iii) any redemptions
of Class A ordinary shares by public shareholders in connection with an initial Business Combination and any Class A ordinary shares
redeemed by public shareholders in connection with any amendment to the Company’s amended and restated memorandum and articles
of association made prior to the consummation of the initial business combination (A) to modify the substance or timing of the Company’s
obligation to allow redemption in connection with its initial business combination or to redeem 100% of the Company’s Public Shares
if the Company does not complete its initial business combination within the completion window or (B) with respect to any other material
provisions relating to the rights of holders of Class A ordinary shares or pre-business combination activity; provided that such conversion
of