Blue Water Acquisition Corp. III
For the period ended Mar 31, 2026. Filed May 15, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 15, 2026
What changed in Risk Factors?
Read the current filingPrevious report: 10-Q
Period ended 2025-09-30; filed 2025-11-14.
0001493152-25-023451
Unregistered Sales of Equity Securities and Use of ProceedsDefaults Upon Senior SecuritiesMine Safety DisclosuresCurrent report: 10-Q
Period ended 2026-03-31; filed 2026-05-15.
0001104659-26-062520
Item 1A. Risk FactorsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 17 previous paragraphs and 2 current paragraphs.
0 unchanged; 0 reworded; 2 added; 17 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 0 previous and 0 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (2)
Current report
As of the date of this Report, there have been no material changes to the risk factors disclosed in our annual report on Form 10-K filed with the SEC on April 14, 2026. We may disclose changes to such factors or disclose additional factors from time to time in our future filings with the SEC.
Removed paragraphs (17)
Previous report
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.
Previous report
Recent Sales of Unregistered Securities
Previous report
On December 3, 2024, the Sponsor made capital contributions of $25,000 to cover certain of the Company’s expenses, for which the Company issued 5,750,000 founder shares, or approximately $0.004 per share, to the Sponsor. On June 9, 2025, the Company, through a share capitalization, issued the Sponsor an additional 575,000 founder shares, resulting in the Sponsor holding 6,325,000 founder shares in the aggregate.
Previous report
Simultaneously with the closing of the Company’s initial public offering, the Company consummated a private placement of an aggregate of 683,000 private placement units to the Sponsor and BTIG, LLC, at a price of $10.00 per private placement unit, generating total proceeds of $6,830,000. Each private placement consists of one Class A Ordinary Share and one-half of one redeemable warrant, with each whole warrant entitling the holder thereof to purchase one Class A Ordinary Share for $11.50 per share (subject to adjustment). Of those 683,000 private placement units, the Sponsor purchased 430,000 private placement units and BTIG purchased 253,000 private placement units.
Previous report
The private placement units are identical to the Units sold in the initial public offering except with respect to certain registration rights and transfer restrictions, as described in the registration statement relating to the Company’s initial public offering. Additionally, such holders agreed not to transfer, assign or sell any of the private placement units or underlying securities (except in limited circumstances, as described in the Registration Statement) until 30 days after the completion of the Company’s initial business combination. The holders were granted certain demand and piggyback registration rights in connection with the purchase of the private placement units and the underlying securities.
Previous report
The private placement units were issued pursuant to Section 4(a)(2) of the Securities Act, as the transaction did not involve a public offering.
Previous report
Use of Proceeds from our Initial Public Offering
Previous report
On June 11, 2025, we consummated our initial public offering of 25,300,000 units, which included 3,300,000 units issued pursuant to the exercise in full by the underwriters of its over-allotment option, which option was granted to the underwriters under the underwriting agreement for our initial public offering. The units were sold at a price of $10.00 per unit, and our initial public offering generated gross proceeds of $253,000,000. The securities sold in our initial public offering were registered under the Securities Act on a registration statement on Form S-1 (No. 333-285075). The SEC declared the registration statement effective on June 9, 2025.
Previous report
At the time of the consummation of our initial public offering, we paid a total of $5,060,000 in underwriting fees related to our initial public offering. In addition, the underwriters agreed to defer $8,855,000 in underwriting fees.
Previous report
On June 11, 2025, a total of $253,000,000 of the net proceeds from our initial public offering and the private placement were deposited in the trust account. The net proceeds deposited into the trust account remain on deposit in the trust account and are available for a business combination, assuming no redemptions, before fees and expenses associated with our initial business combination. The proceeds held in the trust account will be invested only in U.S. government securities with a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act which invest only in direct U.S. government treasury obligations.
Previous report
Through June 11, 2025, the date we consummated our initial public offering, we incurred $505,089 for other costs and expenses related to our initial public offering
Previous report
Purchases of Equity Securities by the Issuer and Affiliated Purchasers during the Quarter Ended September 30, 2025
Previous report
Item 3. Defaults Upon Senior Securities.