Company: BLUWU
Filing Date: 2025-02-20
Form Type: S-1
Source: 0001493152-25-007630
Chunk: 38

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-02-20
Form: S-1
Chunk 38
---
 exercised in full), in a                
 private placement that will close simultaneously with the closing of this offering. Each private placement unit will consist of one       
 Class A ordinary share and one-half of one redeemable warrant, with each whole warrant exercisable to purchase one Class A ordinary       
 share at $11.50 per share. The private placement units are identical to the units sold in this offering, subject to certain limited       
 exceptions as described in this prospectus. The private placement warrants will be identical to the warrants comprising part of the       
 units being offered by this prospectus. Of those 600,000 private placement units (or 660,000 private placement units if the underwriters’ 
 over-allotment option is exercised in full), our sponsor has agreed to purchase 400,000 private placement units (or 430,000 private       
 placement units if the underwriters’ over-allotment option is exercised in full) and BTIG has agreed to purchase 200,000 private          
 placement units (or 230,000 private placement units if the underwriters’ over-allotment option is exercised in full). The private         
 placement shares and private placement warrants will also be worthless if we do not complete our initial business combination. A          
 portion of the purchase price of the private placement units will be added to the proceeds from this offering to be held in the trust     
 account such that at the time of closing of this offering $200,000,000 (or $230,000,000 if the underwriters exercise their over-allotment 
 option in full) will be held in the trust account. The private placement units will be identical to the units sold in this offering       
 except that, so long as they are held by our sponsor or its permitted transferees, the private placement units (including the securities  
 comprising such units and the Class A ordinary shares issuable upon exercise of the private placement warrants) (i) may not, subject      
 to certain limited exceptions, be transferred, assigned or sold by the holders until 30 days after the completion of our initial          
 business combination, (ii) will be entitled to registration rights and (iii) with respect to private placement warrants included          
 in the private placement units held by BTIG and/or its designees, will not be exercisable more than five years from the commencement      
 of sales in this offering in accordance with FINRA Rule 5110(g)(8). If we do not complete our initial business combination within         
 the completion window, the private placement units (and the securities