Company: BLUWU
Filing Date: 2025-03-31
Form Type: S-1/A
Source: 0001641172-25-001410
Chunk: 334

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-03-31
Form: S-1/A
Chunk 334
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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. Up to 750,000 of these shares will be surrendered for no consideration depending on the extent to which the underwriters’ over-allotment option is exercised.

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Our sponsor is an accredited investor for purposes of Rule 501 of Regulation D. Each of the equity holders in our sponsor is an accredited investor under Rule 501 of Regulation D. The sole business of our sponsor is to act as the company’s sponsor in connection with this offering. The limited liability company agreement of our sponsor provides that its membership interests may only be transferred to our officers or directors or other persons affiliated with our sponsor, or in connection with estate planning transfers.

Our sponsor and BTIG, LLC, the representative of the underwriters, have committed to, pursuant to written agreements, purchase an aggregate of 600,000 private placement units (or 660,000 private placement units if the underwriters’ over-allotment option is exercised in full), at a price of $10.00 per unit, or $6,000,000 in the aggregate (or $6,600,000 if the underwriters’ over-allotment option is exercised in full), in a private placement that will close simultaneously with the closing of this offering. 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), the 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, LLC 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 units (and the securities comprising such units) will also be worthless if we do not complete our initial