Blue Water Acquisition Corp. III Warrant

Blue Water Acquisition Corp. III Warrant is a derivative security issued by a special purpose acquisition company that grants the right to purchase one Class A ordinary share of Blue Water Acquisition Corp. III at a fixed exercise price, following the separation of IPO units into shares and warrants. Each unit originally contained one share and one-half of a redeemable warrant; only whole warrants trade, and each whole warrant is exercisable for one share at an exercise price of $11.50, as disclosed at the company’s IPO closing and subsequent separation announcement. The warrant trades separately from the common shares after unit separation, aligning with Nasdaq’s SPAC warrant listing framework, which sets minimum counts and market value thresholds for listed warrants. Blue Water Acquisition Corp. III is a blank-check company formed to pursue a business combination, with stated focus areas including artificial intelligence, biotechnology, healthcare, and technology, situating the warrant within the SPAC ecosystem where it functions as a targeted exposure to the sponsor’s deal pipeline and potential post-merger equity.