Blue Water Acquisition Corp. III is a Delaware‐incorporated special purpose acquisition company (SPAC) formed in 2021. The company’s primary objective is to effect a business combination with one or more operating businesses or assets, leveraging the experience and network of its sponsor, Blue Water Alternative Strategies LLC. Units of the company are listed on the Nasdaq under the ticker symbol “BLUWU.”
Through its initial public offering in August 2021, Blue Water Acquisition Corp. III raised capital by selling units, each consisting of one share of common stock and a fraction of a redeemable warrant. These funds are held in a trust account pending identification and completion of a qualifying merger, stock purchase, asset acquisition or similar business combination. Shareholders have the right to redeem their shares if they do not approve of a prospective transaction.
As a blank‐check vehicle, Blue Water Acquisition Corp. III does not conduct any commercial operations of its own. Instead, its management team sources and evaluates potential target companies in North America and select international markets. The company’s leadership draws on experience in corporate finance, mergers and acquisitions, and strategic advisory services to pursue opportunities that aim to create long‐term value for stakeholders.
Pending the completion of a business combination, Blue Water Acquisition Corp. III continues to operate with a lean corporate structure focused on due diligence, financial structuring and regulatory compliance. Further announcements regarding its search for an acquisition target are made via filings with the U.S. Securities and Exchange Commission and Nasdaq.
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