Company: BLUWU
Filing Date: 2025-03-31
Form Type: S-1/A
Source: 0001641172-25-001410
Chunk: 34

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-03-31
Form: S-1/A
Chunk 34
---
 certain of our offering costs in exchange          
 for 5,750,000 founder shares.                                                                                                              
 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.                                                      
 Prior                                                                                                                                      
 to the initial investment in the company of $25,000 by the sponsor, the company had no assets, tangible or intangible. The per share       
 price of the founder shares was determined by dividing the amount of cash contributed to the company by the number of founder shares       
 issued. The number of founder shares outstanding was determined based on the expectation that the total size of this offering would        
 be a maximum of 23,000,000 units if the underwriters’ over-allotment option is exercised in full, and therefore that such founder          
 shares would represent 20% of the outstanding shares after this offering (not including the Class A ordinary shares comprising             
 part of the private placement units and the Class A ordinary shares underlying the private placement warrants). Our public shareholders    
 may incur material dilution due to such anti-dilution adjustments that result in the issuance of Class A ordinary shares on a greater      
 than one-to-one basis upon conversion. Up to 750,000 of the founder shares will be surrendered for no consideration depending on           
 the extent to which the underwriters’ over-allotment option is not exercised. If we increase or decrease the size of the offering,         
 we will effect a share capitalization or a share repurchase or redemption or other appropriate mechanism, as applicable, with respect      
 to our Class B ordinary shares immediately prior to the consummation of the offering in such amount as to maintain the ownership           
 of founder shares by our initial shareholders, on an as-converted basis, at 20% of our issued and outstanding ordinary shares              
 upon the consummation of this offering (not including the Class A ordinary shares comprising part of the private placement units           
 and the Class A ordinary shares underlying the private placement warrants). Any conversion of Class B ordinary shares described herein     
 will take effect as a compulsory redemption of Class B ordinary shares and an issuance of Class A ordinary shares as a matter of           
 Cayman Islands law