Company: BLUWU
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024010
Chunk: 127

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 127
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 to any seller in the initial Business Combination and any private placement-equivalent units issued to the Sponsor or
any of its affiliates or to the Company’s officers or directors upon conversion of Working Capital Loans) minus (iii) any redemptions
of Class A ordinary shares by public shareholders in connection with an initial Business Combination and any Class A ordinary shares
redeemed by public shareholders in connection with any amendment to the Company’s amended and restated memorandum and articles
of association made prior to the consummation of the initial business combination (A) to modify the substance or timing of the Company’s
obligation to allow redemption in connection with its initial business combination or to redeem 100% of the Company’s Public Shares
if the Company does not complete its initial business combination within the completion window or (B) with respect to any other material
provisions relating to the rights of holders of Class A ordinary shares or pre-business combination activity; provided that such conversion
of founder shares will never occur on a less than one-for-one basis.

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Holders
of record of the Company’s Class A ordinary shares and Class B ordinary shares are entitled to one vote for each share held on
all matters to be voted on by shareholders. Unless specified in the Company’s amended and restated memorandum and articles of association
or as required by the Companies Act or stock exchange rules, an ordinary resolution under Cayman Islands law and the Company’s
amended and restated memorandum and articles of association, which requires the affirmative vote of at least a majority of the votes
cast by such shareholders as, being entitled to do so, vote in person or, where proxies are allowed, by proxy at the applicable general
meeting of the Company is generally required to approve any matter voted on by the Company’s shareholders. Approval of certain
actions require a special resolution under Cayman Islands law, which (except as specified below) requires the affirmative vote of at
least two-thirds of the votes cast by such shareholders as, being entitled to do so, vote in person or, where proxies are allowed, by
proxy at the applicable general meeting, and pursuant to the Company’s amended and restated memorandum and articles of association,
such actions include amending the Company’s amended and restated memorandum and articles of association and approving a statutory
merger or consolidation with another company. There is no cumulative voting with respect to the appointment of directors, meaning, following
the Company’s initial Business Combination, the holders of more than 50%