$BLUWW

Blue Water Acquisition Corp. III

CIK:0002050501|SEC Filings

CONDENSED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		6 Months Ended
CONDENSED STATEMENTS OF OPERATIONS - USD ($)	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Operating expenses:
Formation, general and administrative expenses	$ 37,837	$ 89,301	$ 90,324	$ 165,123
Legal and accounting expenses	120,064	12,723	381,762	12,723
Listing fees	21,250		42,033
Administrative services fee - related party		6,333		6,333
Insurance expense	18,798	4,132	37,390	4,132
Total operating expenses	197,949	112,489	551,509	188,311
Loss from operations	(197,949)	(112,489)	(551,509)	(188,311)
Other income:
Income earned on cash and marketable securities held in Trust Account	2,296,107	556,881	4,574,624	556,881
Other income	2,296,107	556,881	4,574,624	556,881
Net income	2,098,158	444,392	4,023,115	368,570
Class A ordinary shares subject to possible redemption
Other income:
Net income	$ 1,643,042	$ 394,258	$ 3,150,452	$ 394,258
Weighted average shares outstanding, Basic	25,300,000	5,282,418	25,300,000	2,655,801
Weighted average shares outstanding, Diluted	25,300,000	5,282,418	25,300,000	2,655,801
Net income (loss) per share, Basic	$ 0.08	$ 0.83	$ 0.16	$ 1.64
Net income (loss) per share, Diluted	$ 0.08	$ 0.83	$ 0.16	$ 1.64
Ordinary shares not subject to possible redemption
Other income:
Net income	$ 455,116	$ 50,134	$ 872,663	$ (25,688)
Weighted average shares outstanding, Basic	7,008,000	6,025,297	7,008,000	5,888,409
Weighted average shares outstanding, Diluted	7,008,000	6,025,297	7,008,000	5,888,409
Net income (loss) per share, Basic	$ (0.01)	$ (0.65)	$ (0.02)	$ (0.68)
Net income (loss) per share, Diluted	$ (0.01)	$ (0.65)	$ (0.02)	$ (0.68)

CONDENSED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended		6 Months Ended
CONDENSED STATEMENTS OF CASH FLOWS - USD ($)	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Cash Flows from Operating Activities:
Net income			$ 4,023,115	$ 368,570
Adjustments to reconcile net income to net cash used in operating activities:
Formation, general and administrative costs paid by Sponsor under promissory note - related party				101,708
Income earned on cash and marketable securities held in Trust Account	$ (2,296,107)	$ (556,881)	(4,574,624)	(556,881)
Changes in operating assets and liabilities:
Prepaid expenses			25,585	(8,267)
Accounts payable			(2,670)	2,896
Accrued expenses			52,508	(10,748)
Administrative support fee - related party				6,333
Due to related party			8,646	8,905
Net cash used in operating activities			(467,440)	(87,484)
Cash Flows from Investing Activities:
Investment in Trust Account				(253,000,000)
Net cash used in investing activities				(253,000,000)
Cash Flows from Financing Activities:
Proceeds from working capital note - related party			500,000
Proceeds from issuance of Class A ordinary shares				253,000,000
Proceeds from sale of private placement units				6,830,000
Payment of underwriting fees and reimbursements				(5,135,000)
Payment of promissory note - related party				(242,397)
Due from related party, net				(28,715)
Payment of deferred offering costs				(296,738)
Net cash provided by financing activities			500,000	254,127,150
Net Change in Cash			32,560	1,039,666
Cash - Beginning of period			0	0
Cash - End of period	32,560	1,039,666	32,560	1,039,666
Supplemental Non-Cash Investing and Financing Activities:
Remeasurement of Class A ordinary shares subject to possible redemption	$ 2,296,107	$ 18,317,089	$ 4,574,624	18,317,089
Deferred offering costs included in accrued offering costs				93,450
Prepaid expenses paid by Sponsor under promissory note - related party				$ 5,833

CONDENSED BALANCE SHEETS - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current Assets:
Cash	$ 32,560	$ 0
Prepaid expenses - current	88,819	81,145
Total Current Assets	121,379	81,145
Non-current Assets:
Cash and marketable securities held in Trust Account	263,371,187	258,796,563
Prepaid expenses - non-current		33,259
Total Non-current Assets	263,371,187	258,829,822
TOTAL ASSETS	263,492,566	258,910,967
Current Liabilities:
Accounts payable	68,514	71,184
Advisory fee payable - related party	15,000	15,000
Accrued expenses	156,473	103,965
Due to related party	8,646
Working capital note - related party	500,000
Total Current Liabilities	748,633	190,149
Non-current Liabilities:
Deferred underwriter fee liability	8,855,000	8,855,000
Total Non-current Liabilities	8,855,000	8,855,000
TOTAL LIABILITIES	9,603,633	9,045,149
Commitments and Contingencies (Note 7)
Shareholders' Deficit
Preference shares, $0.0001 par value; 5,000,000 shares authorized; none issued and outstanding
Accumulated deficit	(9,482,955)	(8,931,446)
Total Shareholders' Deficit	(9,482,254)	(8,930,745)
TOTAL LIABILITIES, ORDINARY SUBJECT TO POSSIBLE REDEMPTION AND SHAREHOLDERS' DEFICIT	263,492,566	258,910,967
Class A ordinary shares subject to possible redemption
Non-current Liabilities:
Class A ordinary shares subject to possible redemption; 25,300,000 shares issued and outstanding subject to possible redemption, at redemption value, as of June 30, 2026 and December 31, 2025	263,371,187	258,796,563
Class A ordinary shares not subject to possible redemption
Shareholders' Deficit
Ordinary shares, value	68	68
Class B ordinary shares
Shareholders' Deficit
Ordinary shares, value	633	$ 633
Related Party
Current Liabilities:
Due to related party	$ 8,646