Blue Water Acquisition Corp. IV

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.

On March 23, 2026, the Company consummated the Initial Public Offering of 13,000,000 Units, which included the partial exercise by the underwriters of their over-allotment option in the amount of 500,000 Units, at $10.00 per Unit, generating gross proceeds of $130,000,000. The securities sold in the Initial Public Offering were registered under the Securities Act on registration statement on Form S-1 (No. 333-291959). The SEC declared the registration statement effective on March 19, 2026.

Simultaneously with the closing of the Initial Public Offering, the Company consummated the sale of 425,000 Private Placement Units at a price of $10.00 per Private Placement Unit, in a private placement to the Sponsor and BTIG, LLC, the representative of the underwriters in the Initial Public Offering, generating gross proceeds of $4,250,000. The Private Placement Units are identical to the Units sold in the Initial Public Offering, except as otherwise disclosed in the registration statement for the Initial Public Offering. The issuance of the Private Placement Units was made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended.

Following the closing of the Initial Public Offering, of the net proceeds received from the consummation of the Initial Public Offering and simultaneous Private Placement, $130,000,000 ($10.00 per unit sold in the Initial Public Offering) was placed in the Trust Account.

There has been no material change in the planned use of proceeds from the Initial Public Offering and private placement as is described in the Company’s final prospectus for its Initial Public Offering.

Purchases of Equity Securities by the Issuer and Affiliated Purchasers during the Quarter Ended March 31, 2026

None.