Company: BLUWU
Filing Date: 2025-02-20
Form Type: S-1
Source: 0001493152-25-007630
Chunk: 174

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-02-20
Form: S-1
Chunk 174
---
 be made at the time of our initial business combination.

Following a business combination, we may seek to recruit additional managers to supplement the incumbent management of the target business. We cannot assure you that we will have the ability to recruit additional managers, or that additional managers will have the requisite skills, knowledge or experience necessary to enhance the incumbent management.

<div align='center'>Shareholders May Not Have the Ability to Approve Our Initial Business Combination</div>

We may conduct redemptions without a shareholder vote pursuant to the tender offer rules of the SEC subject to the provisions of our amended and restated memorandum and articles of association. However, we will seek shareholder approval if it is required by law or applicable stock exchange rule, or we may decide to seek shareholder approval for business or other reasons.

Under Nasdaq’s listing rules, shareholder approval would be required for our initial business combination if, for example:

| ● | We                                                                                                                                    
 issue ordinary shares that will be equal to or in excess of 20% of the number of our ordinary shares then outstanding (other than     
 in a public offering);                                                                                                                |
| ● | Any                                                                                                                                   
 of our directors, officers or substantial shareholders (as defined by Nasdaq rules) has a 5% or greater interest earned on the trust  
 account (or such persons collectively have a 10% or greater interest), directly or indirectly, in the target business or assets to    
 be acquired or otherwise and the present or potential issuance of ordinary shares could result in an increase in outstanding ordinary 
 shares or voting power of 5% or more; or                                                                                              |
| ● | The                                                                                                                                   
 issuance or potential issuance of ordinary shares will result in our undergoing a change of control.                                  |

The decision as to whether we will seek shareholder approval of a proposed business combination in those instances in which shareholder approval is not required by applicable law or stock exchange listing requirements will be made by us, solely in our discretion, and will be based on business and legal reasons, which include a variety of factors, including, but not limited to: (i) the timing of the transaction, including in the event we determine shareholder approval would require additional time and there is either not enough time to seek shareholder approval or doing so would place the company at a disadvantage in the transaction or result in other additional burdens on the company; (ii) the expected cost of holding a shareholder vote; (iii) the risk that the shareholders would fail to approve the proposed business combination; (iv) other time and budget constraints of the company;