Company: BLUWU
Filing Date: 2025-02-20
Form Type: S-1
Source: 0001493152-25-007630
Chunk: 254

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-02-20
Form: S-1
Chunk 254
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 company (i.e., the lowest threshold permissible under Cayman Islands law), or by a written resolution passed in accordance with the Companies Law.

| 168 |

Our initial shareholders, who will collectively beneficially own 20% of our ordinary shares upon the closing of this offering (assuming they do not purchase any units in this offering 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), will participate in any vote to amend our amended and restated memorandum and articles of association and will have the discretion to vote in any manner they choose. Specifically, our amended and restated memorandum and articles of association provides, among other things, that:

| ● | If                                                                                                                                         
 we have not completed our initial business combination within the completion window, we will (i) cease all operations except for           
 the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter (and subject to          
 lawfully available funds therefor), redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount         
 then on deposit in the trust account, including interest earned on the funds held in the trust account (which interest shall be net        
 of taxes and less up to $100,000 of interest to pay dissolution expenses), divided by the number of then-outstanding public shares,        
 which redemption will completely extinguish public shareholders’ rights as shareholders (including the right to receive further            
 liquidating distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption,     
 subject to the approval of our remaining shareholders and our board of directors, liquidate and dissolve, subject in each case to          
 our obligations under Cayman Islands law to provide for claims of creditors and the requirements of other applicable law;                  |
| ● | Prior                                                                                                                                      
 to our initial business combination, we may not, except in connection with the conversion of Class B ordinary shares into Class A          
 ordinary shares where the holders of such shares have waived any rights to receive funds from the trust account, issue additional          
 shares that would entitle the holders thereof to (i) receive funds from the trust account or (ii) vote as a class with public shares       
 on any initial business combination;                                                                                                       |
| ● | If                                                                                                                                         
 a shareholder vote on our initial business combination is not required by law and we do not decide to hold a shareholder vote for          
 business or other reasons, we will offer