Company: BLUWU
Filing Date: 2025-02-20
Form Type: S-1
Source: 0001493152-25-007630
Chunk: 46

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-02-20
Form: S-1
Chunk 46
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 that we will furnish to holders of our public shares in connection with our initial business combination will indicate      
 whether we are requiring public shareholders to satisfy such delivery requirements. We believe that this will allow our transfer           
 agent to efficiently process any redemptions without the need for further communication or action from the redeeming public shareholders,  
 which could delay redemptions and result in additional administrative cost.                                                                |
| If the proposed initial                                                                                                                    
 business combination is not approved and we continue to search for a target company, we will promptly return any certificates or           
 shares delivered by public shareholders who elected to redeem their shares.                                                                |
| Our proposed initial business                                                                                                              
 combination may impose a minimum cash requirement for (i) cash consideration to be paid to the target or its owners, (ii) cash             
 for working capital or other general corporate purposes or (iii) the retention of cash to satisfy other conditions. In the event           
 the aggregate cash consideration we would be required to pay for all Class A ordinary shares that are validly submitted for                
 redemption plus any amount required to satisfy cash conditions pursuant to the terms of the proposed initial business combination          
 exceed the aggregate amount of cash available to us, we will not complete the initial business combination or redeem any shares,           
 and all Class A ordinary shares submitted for redemption will be returned to the holders thereof. We may, however, raise funds             
 through the issuance of equity-linked securities or through loans, advances or other indebtedness in connection with our initial           
 business combination, including pursuant to forward purchase agreements or backstop arrangements we may enter into following consummation  
 of this offering, in order to, among other reasons, satisfy such net tangible assets or minimum cash requirements.                         |

| 32 |

| Limitation on redemption rights                                                                      
 of shareholders holding 15% or more of the shares sold in this offering if we hold shareholder vote: | 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 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. We