# EDGAR Filing Document

**Accession Number:** 0002050501
**File Stem:** 0001641172-25-014414
**Filing Date:** 2025-6
**Character Count:** 32220
**Document Hash:** 701d7d9237d5514814742f1995742c72
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001641172-25-014414.hdr.sgml**: 20250609

**ACCESSION NUMBER**: 0001641172-25-014414

**CONFORMED SUBMISSION TYPE**: S-1MEF

**PUBLIC DOCUMENT COUNT**: 17

**FILED AS OF DATE**: 20250609

**DATE AS OF CHANGE**: 20250609

**EFFECTIVENESS DATE**: 20250609

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Blue Water Acquisition Corp. III
- **CENTRAL INDEX KEY:** 0002050501
- **STANDARD INDUSTRIAL CLASSIFICATION:** BLANK CHECKS [6770]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** S-1MEF
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-287890
- **FILM NUMBER:** 251035847

**BUSINESS ADDRESS:**
- **STREET 1:** 15 E. PUTNUM AVENUE
- **STREET 2:** SUITE 363
- **CITY:** GREENWICH
- **STATE:** CT
- **ZIP:** 06830
- **BUSINESS PHONE:** 646-303-0737

**MAIL ADDRESS:**
- **STREET 1:** 15 E. PUTNUM AVENUE
- **STREET 2:** SUITE 363
- **CITY:** GREENWICH
- **STATE:** CT
- **ZIP:** 06830

**As filed with the U.S. Securities and Exchange Commission on June 9, 2025.**

**Registration No. 333-**

**UNITED STATES<br> SECURITIES AND EXCHANGE COMMISSION** **<br> Washington, D.C. 20549**

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**FORM S-1** **<br> REGISTRATION STATEMENT<br> UNDER<br> THE SECURITIES ACT OF 1933**

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**Blue Water Acquisition Corp. III** ****<br> (Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| **Cayman Islands** | **6770** | **33-2301550** |
| (State or other jurisdiction of <br> incorporation or organization) | (Primary Standard Industrial <br> Classification Code Number) | (I.R.S. Employer <br> Identification Number) |

---

**15 E. Putnam Avenue**

**Suite 363**

**Greenwich, CT 06830**

**(203) 489-2110**<br> (Address, including zip code, and telephone number, including area code, of registrant's principal executive offices)

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**Joseph Hernandez**

**15 E. Putnam Avenue**

**Suite 363**

**Greenwich, CT 06830**

**(203) 489-2110**<br> (Name, address, including zip code, and telephone number, including area code, of agent for service)

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*Copies to:*

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| | |
|:---|:---|
| **Mitchell S. Nussbaum, Esq.<br> Andrei Sirabionian, Esq.<br> Loeb & Loeb LLP <br> 345 Park Avenue<br> New York, NY 10154<br> (212) 407-4000** | **Stephen P. Alicanti, Esq.<br> DLA Piper LLP (US)<br> 1251 Avenue of the Americas**<br> **New York, NY 10020**<br> **(212) 335-4500** |

---

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**Approximate date of commencement of proposed sale to the public:** As soon as practicable after the effective date of this registration statement.

If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933 check the following box. ☐

If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☒ **333-285075**

If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☐ Accelerated filer ☐ <br> Non-accelerated filer ☒ Smaller reporting company ☒ <br> Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

**This Registration Statement shall become effective upon filing with the Securities and Exchange Commission in accordance with Rule 462(b) under the Securities Act of 1933, as amended.**

**EXPLANATORY NOTE**

This Registration Statement on Form S-1 (this "Registration Statement") is being filed by Blue Water Acquisition Corp. III, a blank check company incorporated as a Cayman Islands exempted company (the "Registrant"), pursuant to Rule 462(b) under the Securities Act of 1933, as amended, and General Instruction V to Form S-1. This Registration Statement relates to the Registrant's Registration Statement on Form S-1, as amended (File No. 333-285075), initially filed by the Registrant on February 20, 2025 and declared effective by the Securities and Exchange Commission (the "Commission") on June 9, 2025 (the "Prior Registration Statement").

This Registration Statement covers the registration of an additional 2,300,000 of the Registrant's units, each consisting of one Class A ordinary share and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share, subject to adjustment. The required opinions of counsel and related consents and accountant's consent are attached hereto and filed herewith. Pursuant to Rule 462(b), the contents of the Prior Registration Statement, including the exhibits thereto, are incorporated by reference into this Registration Statement.

**CERTIFICATION**

The Registrant hereby certifies to the Commission that (1) it has instructed its bank to pay the filing fee set forth in Exhibit 107 filed herewith by a wire transfer of such amount to the Commission's account at U.S. Bank as soon as practicable (but no later than the close of business as of June 10, 2025), (2) it will not revoke such instructions, (3) it has sufficient funds in the relevant account to cover the amount of such filing fee and (4) it will confirm receipt of such instructions by its bank during regular business hours no later than June 10, 2025.

**Part II**

**Information not required in prospectus**

**Item 16. *Exhibits and Financial Statement Schedules.***

(a) *Exhibits*. All exhibits filed with or incorporated by reference in the Registration Statement on Form S-1 (File No. 333-285075) are incorporated by reference into, and shall be deemed a part of, this Registration Statement, and the following additional exhibits are filed herewith, as part of this Registration Statement:

**Exhibit Index**

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| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 5.1 | [Opinion of Loeb & Loeb LLP.](ex5-1.htm) |
| 5.2 | [Opinion of Forbes Hare, Cayman Islands counsel to the Registrant.](ex5-2.htm) |
| 23.1 | [Consent of Elliott Davis, PLLC.](ex23-1.htm) |
| 23.2 | [Consent of Loeb & Loeb LLP (included on Exhibit 5.1).](ex5-1.htm) |
| 23.3 | [Consent of Forbes Hare (included on Exhibit 5.2).](ex5-2.htm) |
| 107 | [Filing Fee Table.](ex107.htm) |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933, as amended, the registrant has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in Greenwich, Connecticut, on the 9th day of June, 2025.

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| | |
|:---|:---|
| **Blue Water Acquisition Corp. III** | **Blue Water Acquisition Corp. III** |
| By: | */s/ Joseph Hernandez* |
| Name: | Joseph Hernandez |
| Title: | Chief Executive Officer |

---

Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed below by the following persons in the capacities and on the dates indicated.

---

| | | |
|:---|:---|:---|
| **Name** | **Position** | **Date** |
| */s/ Joseph Hernandez* | Chief Executive Officer and Director | June 9, 2025 |
| Joseph Hernandez | (principal executive officer) |  |
| */s/ Martha F. Ross* | Chief Financial Officer | June 9, 2025 |
| Martha F. Ross | (principal financial and accounting officer) |  |
|  | Director |  |
| Timothy N. Coulson |  |  |
| */s/ Trevor L. Hawkins* | Director | June 9, 2025 |
| Trevor L. Hawkins |  |  |
|  | Director |  |
| Ish S. Dugal |  |  |
| */s/ Laurent D. Hermouet* | Director | June 9, 2025 |
| Laurent D. Hermouet |  |  |

---

## Exhibit 5.1

**Exhibit 5.1**

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| | | | |
|:---|:---|:---|:---|
| ![](ex5-1_001.jpg) | **Loeb & Loeb LLP**<br> 345 Park Avenue<br> New York, NY 10154-1895 | **Main**<br> **Fax** | 212.407.4000<br> 212.407.4990 |

---

June 9, 2025

Blue Water Acquisition Corp. III

15 E. Putnam Avenue, Suite 363

Greenwich, CT 06830

Re: Blue Water Acquisition Corp. III

Ladies and Gentlemen:

We have acted as U.S. counsel to Blue Water Acquisition Corp. III, a Cayman Islands exempted company (the "Company"), in connection with the Company's filing with the Securities and Exchange Commission (the "Commission") of a Registration Statement on Form S-1 (the "462(b) Registration Statement"), pursuant to Rule 462(b) under the Securities Act of 1933, as amended (the "Act"). The 462(b) Registration Statement incorporates by reference the Company's Registration Statement on Form S-1 (File No. 333-285075) initially filed with the Commission February 20, 2025, as amended (the "Initial Registration Statement" and together with the 462(b) Registration Statement, the "Registration Statement"). This opinion is furnished to you in connection with your filing of the 462(b) Registration Statement, which is registering the offering by the Company of up to (i) 2,000,000 units (the "Units "), with each Unit consisting of one of the Company's Class A ordinary shares, par value $0.0001 per share (the "Ordinary Shares"), and one-half of one redeemable warrant (the "Warrants"), with each whole warrant entitling the holder thereof to purchase one Ordinary Share at a price of $11.50 per share, subject to adjustment; (ii) up to 300,000 Units (the "Over-Allotment Units") for which the underwriters have been granted an over-allotment option; (iii) all Ordinary Shares and Warrants issued as part of the Units and Over-Allotment Units; and (iv) all Ordinary Shares issuable upon exercise of the Warrants included in the Units and Over-Allotment Units. We understand that the Units, the Over-Allotment Units and the additional Ordinary Shares and additional Warrants are to be sold as described in the Registration Statement and pursuant to an underwriting agreement to be entered into by and between the Company and BTIG, LLC, as representative of the underwriters in the Offering, in substantially the form filed as an exhibit to the Registration Statement (the "Underwriting Agreement").

We have examined such documents and considered such legal matters as we have deemed necessary and relevant as the basis for the opinion set forth below. With respect to such examination, we have assumed the genuineness of all signatures, the authenticity of all documents submitted to us as originals, the conformity to original documents of all documents submitted to us as reproduced or certified copies, and the authenticity of the originals of those latter documents. As to questions of fact material to this opinion, we have, to the extent deemed appropriate, relied upon certain representations of certain officers of the Company. Because the agreements governing the Units and the Warrants contain provisions stating that they are to be governed by the laws of the State of New York, we are rendering this opinion as to New York law. We are admitted to practice in the State of New York, and we express no opinion as to any matters governed by any law other than the law of the State of New York. In particular, we do not purport to pass on any matter governed by the laws of the Cayman Islands.

Based upon the foregoing, we are of the opinion that the Warrants (including the Warrants issuable in connection with the Over-Allotment Units), the Units and the Over-Allotment Units, if and when paid for in accordance with the terms of the Underwriting Agreement, will constitute the valid and legally binding obligation of the Company, enforceable against it in accordance with its terms.

In addition, the foregoing opinions are qualified to the extent that (a) enforceability may be limited by and be subject to general principles of equity, regardless of whether such enforceability is considered in a proceeding in equity or at law (including, without limitation, concepts of notice and materiality), and by bankruptcy, insolvency, reorganization, moratorium and other similar laws affecting creditors' and debtors' rights generally (including, without limitation, any state or federal law in respect of fraudulent transfers); and (b) no opinion is expressed herein as to compliance with or the effect of federal or state securities or blue sky laws.

We hereby consent to the use of this opinion as an exhibit to the 462(b) Registration Statement, to the use of our name as your U.S. counsel and to all references made to us in the Registration Statement and in the prospectus forming a part thereof. In giving this consent, we do not hereby admit that we are in the category of persons whose consent is required under Section 7 of the Act, or the rules and regulations promulgated thereunder.

Very truly yours,

/s/ Loeb & Loeb LLP

Loeb & Loeb LLP

## Exhibit 5.2

**Exhibit 5.2**

Forbes Hare

Cassia Court

Camana Bay

Suite 716, 10 Market Street

Grand Cayman KY1-9006

Cayman Islands

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| | | |
|:---|:---|:---|
| **DD:** | +1 284 852 1899 | ![](ex5-2_001.jpg) |
| **E:** | Jose.santos@forbeshare.com | ![](ex5-2_001.jpg) |
| **Our Ref:** | JST/SS/MD/KY9339.001 | ![](ex5-2_001.jpg) |
| **Your Ref:** | Reference | ![](ex5-2_001.jpg) |
|  |  | ![](ex5-2_001.jpg) |
| Blue Water Acquisition Corp. III<br> 15 E. Putnam Avenue<br> Suite 363<br> Greenwich, CT 06830<br> United States of America | Blue Water Acquisition Corp. III<br> 15 E. Putnam Avenue<br> Suite 363<br> Greenwich, CT 06830<br> United States of America | ![](ex5-2_001.jpg) |

---

09 June 2025

Dear Sirs

**Blue Water Acquisition Corp. III (the "Company")**

We are lawyers licensed and qualified to practice law in the Cayman Islands. We have acted as special Cayman Islands counsel to the Company to provide this legal opinion in connection with the Company's Registration Statement on Form S-1, including all amendments or supplements thereto (the "**Registration Statement**"), filed with the Securities and Exchange Commission (the "**Commission**") under the United States Securities Act of 1933, as amended, related to the offering and sale of: (i) 2,000,000 units (the "**Units**") consisting of one Class A ordinary share of US$0.0001 par value in the Company (a "**Class A Share**") and one-half of one redeemable warrant (the "**Warrants**"); (ii) up to 300,000 Units to the underwriter pursuant to an option to purchase up to 15% of the total number of Units to cover over-allotments, if any (the "**Over-allotment Units**"); (iii) all Class A Ordinary Shares and Warrants issued as part of the Units and the Over-allotment Units; (iv) all Class A Ordinary Shares that may be issued upon exercise of the Warrants.

**1.** **Documents Reviewed and Searches** 

We have reviewed originals, copies or drafts of the following documents and have examined such other documents and considered such legal matters as we have deemed necessary for the purpose of rendering this legal opinion:

1.1 A
 Certificate of Incorporation of the Company dated 1 November 2024 issued by the registrar
 of Companies of the Cayman Islands (the "**Registrar** ").

1.2 The
 stamped copy of the Company's Memorandum and Articles of Association dated 1 November
 2024.

Page 1 of **6**

1.3 A
 certificate of incumbency issued by the registered office of the Company, Forbes Hare Trust
 Company signed on 23 May 2025 and stating that the Company is in Good Standing in the Cayman
 Islands (the "**Incumbency Certificate** ").

1.4 A
 certificate from a Director of the Company (the "**Director's Certificate** ").

1.5 A
 director resolutions approving the public offering of the Company's Class A Shares
 (the "**Director Resolutions** ").

1.6 The
 Register of Writs at the office of the Clerk of Courts in the Cayman Islands as inspected
 by us on 9 June 2025 (the "**Register of Writs** ").

1.7 The
 Registration Statement.

1.8 A
 draft of the form of unit certificate representing the Units (the "**Unit Certificate** ").

1.9 A
 draft of the form of the warrant agreement and the warrants constituting the Warrants (the
 "**Warrants Documents** ").

1.10 A
 draft of the underwriting agreement between the Company and BTIG, LLC.

The documents listed in paragraphs 1.8 to 1.10 inclusive above shall be referred to collectively as the "**Documents**".

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| | |
|:---|:---|
| **2** | **Assumptions** |

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In giving this opinion we have assumed, without further verification, the completeness and accuracy of the Documents and searches and that the information contained therein or resulting therefrom remains accurate and complete as at the date of this opinion. We have also relied upon the following assumptions, which we have not independently verified:

2.1 Copies
 of the Documents, conformed copies or drafts of the Documents provided to us are true and
 complete copies of, or in the final forms of, the originals.

2.2 All
 signatures, seals, dates, stamps and other markings are genuine.

2.3 The
 statement in the Incumbency Certificate that the Company is in Good Standing accurately reflects
 the good standing status of the Company with the Registrar as at the date of this opinion.

2.4 The
 accuracy and completeness of all factual representations expressed in or implied by the Documents
 we have examined.

2.5 Each
 of the Certificate of Incumbency and the Register of Writs is accurate and complete as at
 the date of this opinion.

Page 2 of **6**

2.6 That
 all public records of the Company which we have examined are accurate and that the information
 disclosed by the searches which we conducted against the Company is true and complete and
 that such information has not since then been altered and that such searches did not fail
 to disclose any information relevant to the issuing of this opinion.

2.7 That
 we have been provided a full and complete record of the corporate documents constituting
 the minute book of the Company which is relevant to the issuing of this opinion and that
 such record remains accurate as at the date of issue of this opinion.

2.8 Where
 any Document has been provided to us in draft or undated form, that Document has been executed
 by all parties in materially the form provided to us and, where we have been provided with
 successive drafts of a Document marked to show changes from a previous draft, all such changes
 have been accurately marked.

2.9 Each
 of the parties to the Documents (as appropriate) other than the Company is duly incorporated,
 formed or organised (as applicable), validly existing and in good standing under all relevant
 laws as at the date of issue of this opinion.

2.10 In
 authorising the execution and delivery of the Documents (as appropriate) by the Company,
 the exercise of its rights and performance of its obligations under the Documents, each of
 the directors of the Company has acted in good faith with a view to the best interests of
 the Company and has exercised the standard of care, diligence and skill that is required
 of him or her.

2.11 Each
 Document (as appropriate) has been duly executed and unconditionally delivered by the Company
 in the manner authorised in the relevant Director resolutions (the "**Director Resolutions** ")
 and that such Director Resolutions have been or will be validly approved.

2.12 None
 of the opinions expressed herein will be adversely affected by the laws or public policies
 of any jurisdiction other than the Cayman Islands. In particular, but without limitation
 to the previous sentence: (a) the laws or public policies of any jurisdiction other than
 the Cayman Islands will not adversely affect the capacity or authority; and (b) neither the
 execution or delivery of the Documents nor the exercise by any party to the Documents of
 its rights or the performance.

2.13 There
 are no agreements, documents or arrangements (other than the documents expressly referred
 to in this opinion as having been examined by us) that materially affect or modify the Documents
 or the transactions contemplated by them or restrict the powers and authority of the Company
 in any way.

Page 3 of **6**

2.14 None
 of the transactions contemplated by the Documents relate to any shares, voting rights or
 other rights that are subject to a restrictions notice issued pursuant to the Companies Act
 (as amended) of the Cayman Islands (the "**Act** ").

2.15 The
 Shares shall be issued at an issue price in excess of the par value thereof.

2.16 There
 is nothing under any law (other than the law of the Cayman Islands) which would or might
 affect the opinions hereinafter appearing. Specifically, we have made no independent investigation
 of the laws of the United States of America.

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| | |
|:---|:---|
| **3** | **Opinion** |

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Based upon, and subject to, the foregoing assumptions and the qualifications set out in section 4 below, and having regard to such legal considerations as we consider relevant, we are of the opinion that:

3.1 The
 Company is an exempted company limited by shares and incorporated under the Act, in good
 standing with the Registrar at the Register of Companies in the Cayman Islands and validly
 existing under the laws of the Cayman Islands and possesses the capacity to sue and be sued
 in its own name.

3.2 The
 Company is authorised to issue Four Hundred and Eighty-Five Million (485,000,000) Class A
 Ordinary Shares of par value US$0.0001 each; Fifty Million (10,000,000) Class B Ordinary
 Shares of par value US$0.0001 each; and Five Million (5,000,000) Preferred Shares of par
 value US$0.0001 each.

3.3 The
 Class A Shares to be offered and sold by the Company as contemplated by the Registration
 Statement (including the Class A Shares to be issued by the Company upon exercise of the
 Warrants (in accordance with the Warrants Documents) have been duly authorised for issue,
 and when issued by the Company against payment in full, of the consideration, in accordance
 with the terms set out in the Registration Statement and the Warrants Documents and duly
 registered in the Company's register of members (shareholders), such Class A Shares
 will be validly issued, fully paid and non-assessable (meaning that no further sums are payable
 to the Company on such securities).

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| | |
|:---|:---|
| **4** | **Qualifications** |

---

The opinions expressed above are subject to the following qualifications:

4.1 Under
 the Act annual returns in respect of the Company must be filed with the Registrar, together
 with payment of annual filing fees. A failure to file annual returns and pay annual filing
 fees may result in the Company being struck off the Register of Companies, following which
 its assets will vest in the Financial Secretary of the Cayman Islands and will be subject
 to disposition.

Page 4 of **6**

4.2 "In
 good standing" means only that as of the date of the Incumbency Certificate (and subject
 to assumption 2.3 above) the Company is up-to-date with the filing of its annual returns
 and payment of annual fees with the Registrar. We have made no enquiries into the Company's
 good standing with respect to any filings or payment of fees, or both, that it may be required
 to make under the laws of the Cayman Islands other than the filing of its annual returns
 and payment of annual fees with the Registrar.

4.3 We
 are not aware of any Cayman Islands authority as to when the courts would set aside the limited
 liability of a shareholder in a Cayman Islands company. Our opinion on the subject is based
 on the Act and English common law authorities, the latter of which are persuasive but not
 binding in the courts of the Cayman Islands. Under English authorities, circumstances in
 which a court would attribute personal liability to a shareholder are very limited, and include:
 (a) such shareholder expressly assuming direct liability (such as a guarantee); (b) the company
 acting as the agent of such shareholder; (c) the company being incorporated by or at the
 behest of such shareholder for the purpose of committing or furthering such shareholder's
 fraud, or for a sham transaction otherwise carried out by such shareholder.

4.4 We
 have not reviewed a good standing certificate issued by the Registrar in relation to the
 good standing status of the Company confirming that the Company is in good standing with
 the Registrar and have relied solely on the statement to this effect in the Incumbency Certificate
 for the purposes of issuing this opinion.

4.5 In
 this opinion, the phrase "non-assessable" means, with respect to the Shares in
 the Company, that a shareholder shall not, solely by virtue of its status as a shareholder,
 be liable for additional assessments or calls on the Shares by the Company or its creditors
 (except in exceptional circumstances, such as involving fraud, the establishment of an agency
 relationship or an illegal or improper purpose or other circumstance in which a court may
 be prepared to pierce or lift the corporate veil).

4.6 Our
 examination of the Register of Writs cannot conclusively reveal whether or not there is:
 (a) any current or pending litigation in the Cayman Islands against the Company; or (b) any
 application for the winding up or dissolution of the Company or the appointment of any liquidator
 or trustee in bankruptcy as notice of these matters might not be entered on the Register
 of Writs immediately or updated expeditiously or the court file associated with the matter
 or the matter itself may not be publicly available (for example, due to sealing orders having
 been made). Furthermore, we have not conducted a search of the summary court.

4.7 The
 obligations of the Company may be subject to restrictions pursuant to United Nations sanctions
 as implemented under the laws of the Cayman Islands.

Page 5 of **6**

4.8 Under
 Cayman Islands law, the register of members (shareholders) is prima facie evidence of title
 to shares and this register would not record a third party interest in such shares. However,
 there are certain limited circumstances where an application may be made to a Cayman Islands
 court for a determination on whether the register of members reflects the correct legal position.
 Further, the Cayman Islands court has the power to order that the register of members maintained
 by a company should be rectified where it considers that the register of members does not
 reflect the correct legal position. As far as we are aware, such applications are rarely
 made in the Cayman Islands and for the purposes of the opinion given in opinion 3.3, there
 are no circumstances or matters of fact known to us on the date of this opinion which would
 properly form the basis for an application for an order for rectification of the register
 of members of the Company, but if such an application were made in respect of the Shares,
 then the validity of such Shares may be subject to re-examination by a Cayman Islands court.

4.9 We
 make no comment with regard to any references to foreign statutes in the Registration Statement.

4.10 This
 opinion is given only as to, and based on, circumstances and matters of fact existing and
 known to us on the date of this opinion. This opinion only relates to the laws of the Cayman
 Islands which are in force on the date of this opinion.

---

| | |
|:---|:---|
| **5** | **Consents** |

---

In connection with the above opinion, we hereby consent:

5.1 to
the use of our name in the Registration Statement, the prospectus constituting a part thereof and all amendments thereto under the caption
"Legal Matters"; and

5.2 to the filing of this opinion as an exhibit to the Registration Statement.

This opinion is limited to the matters detailed herein and is not to be read as an opinion with respect to any other matter.

Yours faithfully

/s/ Forbes Hare

**Forbes Hare**

Page 6 of **6**

## Exhibit 23.1

**Exhibit 23.1**

**Consent of Independent Registered Public Accounting Firm**

We consent to the use in this Registration Statement on Form S-1MEF filed on the date herewith of Blue Water Acquisition Corp. III of our report dated February 19, 2025 except for Notes 2, 5 and 9 to which the date is March 28, 2025, relating to the financial statements of Blue Water Acquisition Corp. III as of December 31, 2024 and for the period from November 1, 2024 (inception) through December 31, 2024, appearing in the Prospectus, which is part of this Registration Statement.

We also consent to the reference to our firm under the heading "Experts" in such Prospectus.

/s/ Elliott Davis, PLLC

Charlotte, North Carolina

June 9, 2025

## Ex-Filing

?xml version='1.0' encoding='ASCII'?

**Exhibit 107**

**Calculation of Filing Fee Tables**

**Form S-1**

(Form Type)

**BLUE WATER ACQUISITION CORP. III**

(Exact Name of Registrant as Specified in its Charter)

Table 1: Newly Registered Securities

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Security <br> Type** | **Fee Calculation <br> Rule** | **Amount Registered** | **Proposed <br> Maximum <br> Offering Price Per Share** | **Maximum Aggregate Offering Price**<sup>(1)</sup>** | **Fee Rate** | **Amount of Registration Fee** |  |
| Fees to Be<br> Paid | Equity Units, each consisting of one Class A ordinary share, $0.0001 par value, and one-half of one redeemable warrant<sup>(2)</sup> | 457(a) | 2300000 | $10.00 | $23000000 | $0.0001531 | $3522 |  |
| Fees to Be<br> Paid | Equity Class A ordinary shares included as part of the units<sup>(2)(3)</sup> | 457(g) | 2300000 |  |  |  |  | (4) |
| Fees to Be<br> Paid | Equity Redeemable warrants included as part of the units, each whole warrant to acquire one Class A ordinary share<sup>(2)(3)</sup> | 457(g) | 1150000 |  |  |  |  | (4) |
|  | **Total Offering Amounts** | **Total Offering Amounts** | **Total Offering Amounts** |  | $23000000 |  | $3522 |  |
|  | **Total Fees Previously Paid** | **Total Fees Previously Paid** | **Total Fees Previously Paid** |  |  |  |  | (5) |
|  | **Net Fee Due** | **Net Fee Due** | **Net Fee Due** |  |  |  | $3522 |  |

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(1) Estimated
 solely for the purpose of calculating the registration fee pursuant to Rule 457(a) under
 the Securities Act of 1933, as amended (the "Securities Act").

(2) Represents
 only the additional number of securities being registered. Does not include the securities
 that the Registrant previously registered on the Registration Statement on Form S-1 (File
 No. 333-285075).

(3) Pursuant
 to Rule 416 under the Securities Act, there are also being registered an indeterminable number
 of additional securities as may be issued to prevent dilution resulting from share splits,
 share capitalizations or similar transactions.

(4) No
 additional registration fee is payable pursuant to Rule 457(g) under the Securities Act .

(5) The
 Registrant previously registered securities having a proposed maximum aggregate offering
 price of $230,000,000 on its Registration Statement on Form S-1, as amended (File No. 333-285075),
 which was declared effective by the Securities and Exchange Commission on June 9, 2025. In
 accordance with Rule 462(b) under the Securities Act, an additional number of securities
 having a proposed maximum offering price of $23,000,000 is hereby registered, which includes
 securities issuable upon the exercise of the underwriters' over-allotment option.