Company: BLUWU
Filing Date: 2025-02-20
Form Type: S-1
Source: 0001493152-25-007630
Chunk: 208

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-02-20
Form: S-1
Chunk 208
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 assign or sell any of their founder shares and any Class A ordinary          
 shares issuable upon conversion thereof until the earlier to occur of: (i) one year after the completion of our initial business              
 combination or (ii) the date following the completion of our initial business combination on which we complete a liquidation, merger,         
 share exchange or other similar transaction that results in all of our shareholders having the right to exchange their ordinary shares        
 for cash, securities or other property. Notwithstanding the foregoing, if the closing price of our Class A ordinary shares equals             
 or exceeds $12.00 per share (as adjusted for share sub-divisions, share capitalizations, reorganizations, recapitalizations and the           
 like) for any 20 trading days within any 30-trading day period commencing at least 150 days after our initial business combination,           
 the founder shares will be released from the lockup. The private placement units (including the securities comprising such units              
 and the Class A ordinary shares issuable upon exercise of the private placement warrants) will not be transferable until 30 days              
 following the completion of our initial business combination. Because each of our officers and director nominees will own ordinary            
 shares or units directly or indirectly, they may have a conflict of interest in determining whether a particular target business              
 is an appropriate business with which to effectuate our initial business combination.                                                         |
| ● | Our                                                                                                                                           
 sponsor and members of our management team will directly or indirectly own our securities following this offering, and accordingly,           
 they may have a conflict of interest in determining whether a particular target business is an appropriate business with which to             
 effectuate our initial business combination. Upon the closing of this offering, our sponsor will have invested in us an aggregate             
 of $4,025,000, comprised of the $25,000 purchase price for the founder shares (or approximately $0.004 per share) and the $4,000,000          
 purchase price for the private placement units (or $10.00 per unit), which may be exercised on a cashless basis. Accordingly, our             
 management team, which owns interests in our sponsor, may be more willing to pursue a business combination with a riskier or less-established 
 target business than would be the case if our sponsor had paid the same per share price for the founder shares as our public shareholders     
 paid for their public shares in this offering or if our sponsor were required to pay cash to exercise the private placement units.            |
| ● | Certain