Company: BLUWU
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024010
Chunk: 73

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 73
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several categories of reconciling items, including state and local income taxes, foreign tax effects, tax credits and nontaxable or nondeductible
items, among others. Disclosure of the reconciling items is subject to a quantitative threshold and disaggregation by nature and jurisdiction.
ASU 2023-09 also requires entities to disclose net income taxes paid or received to federal, state and foreign jurisdictions, as well
as by individual jurisdiction, subject to a five percent quantitative threshold. ASU 2023-09 may be adopted on a prospective or retrospective
basis and is effective for fiscal years beginning after December 15, 2024, and for interim periods for fiscal years beginning after December
15, 2025, with early adoption permitted. The Company is currently assessing the impact, if any, that ASU 2023-09 would have on its financial
position, results of operations or cash flows.

Management
does not believe that any other recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a
material effect on the Company’s financial statement.

    10 

Note
3 — Initial Public Offering

Pursuant
to the Initial Public Offering on June 11, 2025, the Company sold 25,300,000 Units at a purchase price of $10.00 per Unit, which includes
the full exercise of the underwriters’ over-allotment option in the amount of 3,300,000 Units. Each Unit consists of one Class
A ordinary share and one-half of one redeemable Public Warrant. Each whole Public Warrant entitles the holder to purchase one Class A
ordinary share at a price of $11.50 per share, subject to adjustment. Each Public Warrant will become exercisable at the later of 12
months from the closing of the Initial Public Offering and 30 days after the completion of the initial Business Combination and will
expire five years after the completion of the initial Business Combination, or earlier upon redemption or liquidation.

Warrants
— As of June 30, 2025, there were 12,991,500 Warrants outstanding, including 12,650,000 Public Warrants and 341,500 Private
Placement Warrants. Each whole Warrant entitles the holder to purchase one Class A ordinary share at a price of $11.50 per share, subject
to adjustment as discussed herein. The Warrants cannot be exercised until the later of 12 months