Company: BLUWU
Filing Date: 2025-05-23
Form Type: S-1/A
Source: 0001641172-25-012302
Chunk: 3

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-05-23
Form: S-1/A
Chunk 3
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 excise tax or any other similar tax that may be levied on us pursuant to any current, pending or future rules or laws, including any excise tax due under the Inflation Reduction Act of 2022 on any redemptions or stock buybacks by us, prior to the release of such funds from the trust account upon our initial business combination. See“ Summary — The Offering — Redemption rights for public shareholders upon completion of our initial business combination” and “Summary — The Offering — Redemption of public shares and distribution and liquidation if no initial business combination” for more information.

Notwithstanding the foregoing redemption rights, if we seek shareholder approval of our initial business combination and we do not conduct redemptions in connection with our initial business combination pursuant to the tender offer rules, our amended and restated memorandum and articles of association provide that a public shareholder, together with any affiliate of such shareholder or any other person with whom such shareholder is acting in concert or as a “group” (as defined under Section 13 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), will be restricted from redeeming its shares with respect to more than an aggregate of 15% of the shares sold in this offering without our prior consent. However, we would not be restricting our shareholders’ ability to vote all of their shares (including all shares held by those shareholders that hold more than 15% of the shares sold in this offering) for or against our initial business combination. See “Summary — The Offering — Limitation on redemption rights of shareholders holding 15% or more of the shares sold in this offering if we hold shareholder vote” for further discussion on certain limitations on redemption rights.

Our sponsor, Blue Water Acquisition III
LLC, and BTIG, LLC, the representative of the underwriters, have committed to purchase an aggregate of 600,000 units, or “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 $