Company: BLUWU
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024010
Chunk: 125

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 125
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 Offering. The Company will bear the expenses incurred in connection with the filing of any such registration statements.

Underwriting
Agreement

The
Company granted the underwriters a 45-day option from the date of the Initial Public Offering to purchase up to an additional 3,300,000
units to cover over-allotments, if any. On June 11, 2025, the underwriters fully exercised their over-allotment option.

    14 

The
underwriters were paid a cash underwriting discount of 2.00% of the gross proceeds of the Units offered in the Initial Public Offering,
or $5,060,000 in the aggregate. Additionally, the underwriters are entitled to a deferred underwriting discount of 3.50% of the gross
proceeds of the Initial Public Offering held in the Trust Account, or $8,855,000 in the aggregate, payable to BTIG, LLC to be deposited
in the Trust Account and released to BTIG, LLC only upon the completion of an initial Business Combination. The deferred underwriting
commissions will be payable as follows: (i) $0.30 per Unit sold in the Initial Public Offering will be paid to BTIG, LLC in cash upon
the closing of the initial Business Combination and (ii) $0.05 per Unit sold in the Initial Public Offering will be payable to BTIG,
LLC in cash (the “Allocable Amount”), provided that the Company and the Sponsor have the right, in the Company and the Sponsor’s
discretion, to reallocate any portion of the Allocable Amount to third parties not participating in the Initial Public Offering (but
who are members of FINRA) that assist the Company in consummating the initial Business Combination.

Note
8 — Shareholders’ Deficit

Preference
Shares — The Company is authorized to issue a total of 5,000,000 preference shares at par value of $0.0001 each. At June
30, 2025, there were no preference shares issued or outstanding.

Class
A Ordinary Shares — The Company is authorized to issue a total of 485,000,000 Class A ordinary shares at par value of $0.0001
each. At June 30, 2025, there were 683,000 shares of Class A ordinary shares issued and outstanding, excluding 25,300,000 shares subject
to possible redemption.

Class
B Ordinary Shares — The Company is authorized to issue a