Company: BLUWU
Filing Date: 2025-03-31
Form Type: S-1/A
Source: 0001641172-25-001410
Chunk: 169

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-03-31
Form: S-1/A
Chunk 169
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 interests, an aggregate of 5,750,000 Class B ordinary shares, which were purchased for approximately $0.004 per share. In                
 addition, several of our officers and directors own an indirect interest the founder shares through membership interests in our sponsor. 
 The non-managing sponsor member will have no right to vote the founder shares that it holds indirectly through its Class A membership    
 interests in the sponsor.                                                                                                                |
| (2) | The                                                                                                                                      
 non-managing sponsor investors have expressed an interest to purchase, indirectly through the purchase of non-managing membership        
 interests, an aggregate of 350,000 (or 380,000 if the underwriters’ over-allotment option is exercised in full) of the 400,000           
 private placement units (or 430,000 private placement units if the underwriters’ over-allotment option is exercised in full)             
 being purchased by our sponsor at a price of $10.00 per unit ($3,500,000 in the aggregate (or $3,800,000 if the underwriters’            
 over-allotment option is exercised in full)) in a private placement that will close simultaneously with the closing of this offering.    
 The purchase of the non-managing sponsor membership interests is not contingent upon the participation in this offering or vice          
 versa.                                                                                                                                   |
| (3) | As                                                                                                                                       
 of the date of this prospectus, no such arrangements are currently in place.                                                             |

| 112 |

Because our sponsor acquired the founder shares at a nominal price, our public shareholders will incur immediate and substantial dilution upon the closing of this offering, assuming no value is ascribed to the warrants included in the units. Further, the Class A ordinary shares issuable in connection with the conversion of the founder shares may result in material dilution to our public shareholders due to the anti-dilution rights of our founder shares that may result in an issuance of Class A ordinary shares on a greater than one-to-one basis upon conversion. See the sections titled “ Risk Factors — Risks Relating to our Management Team — The nominal purchase price paid by our sponsor for the founder shares may result in significant dilution to the implied value of your public shares upon the consummation of our initial business combination, and our sponsor is likely to make a substantial profit on its investment in us in the event we consummate an initial business combination, even if the business combination causes the trading price of our ordinary shares to materially decline” and “Dilution.”In