Blue Water Acquisition Corp. III Announces the Upsized Pricing of $220 Million Initial Public Offering

Rhea-AI Summary

Blue Water Acquisition Corp. III, a newly formed SPAC led by Joseph Hernandez, has announced the upsized pricing of its IPO at $220 million. The company is offering 22,000,000 units at $10.00 per unit on the Nasdaq Global Market under symbol BLUWU. Each unit consists of one Class A ordinary share and one-half redeemable warrant, with whole warrants exercisable at $11.50 per share. The Class A shares and warrants will later trade separately under BLUW and BLUWW. BTIG LLC is the sole book-runner, with a 45-day option to purchase up to 3.3 million additional units. The offering is expected to close on June 11, 2025.

Positive

• Upsized IPO indicates strong market interest and demand
• Large offering size of $220 million provides substantial capital for potential acquisitions
• 45-day over-allotment option could add $33 million in additional capital
• Listing on Nasdaq Global Market provides strong visibility and liquidity

Negative

• No specific acquisition target identified yet
• SPAC investors face uncertainty until a merger target is identified
• Warrant dilution potential if exercised at $11.50 per share
• Risk of capital return if no acquisition is completed within timeline

Insights

Capital Markets Analyst

Blue Water SPAC raises $220M in upsized IPO, indicating strong investor interest despite no announced acquisition target yet.

Blue Water Acquisition Corp. III has successfully priced its $220 million IPO, upsized from its original target, suggesting robust initial investor demand. The SPAC is offering 22 million units at $10.00 per unit, with each unit comprising one Class A ordinary share and half a warrant (exercisable at $11.50).

The upsizing of this offering is notable in the current market environment, as it indicates significant investor confidence in the management team led by Joseph Hernandez, despite no specific acquisition target being announced yet. SPACs (Special Purpose Acquisition Companies) are essentially blank check companies that raise capital with the sole purpose of identifying and merging with a private business, thereby taking it public through a streamlined process compared to traditional IPOs.

The offering includes standard SPAC features such as the $10 unit price and the 15% over-allotment option (3.3 million additional units). Once the units begin separate trading, investors will be able to trade the shares and warrants independently under the symbols "BLUW" and "BLUWW" respectively.

BTIG is serving as the sole book-runner for the transaction, which is expected to close on June 11, 2025. The SPAC structure provides early investors with potential upside through warrants while maintaining downside protection until a merger target is announced.

GREENWICH, Conn., June 10, 2025 /PRNewswire/ -- Blue Water Acquisition Corp. III (the "Company"), a newly organized special purpose acquisition company formed as a Cayman Islands exempted company and led by Chairman and Chief Executive Officer Joseph Hernandez, today announced the upsized pricing of its initial public offering of 22,000,000 units at an offering price of $10.00 per unit, with each unit consisting of one Class A ordinary share and one-half of one redeemable warrant. Each whole warrant will entitle the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share. The units are expected to trade on The Nasdaq Global Market ("Nasdaq")under the ticker symbol "BLUWU" beginning on June 10, 2025. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Once the securities comprising the units begin separate trading, the Class A ordinary shares and the warrants are expected to be traded on Nasdaq under the symbols "BLUW" and "BLUWW," respectively.

BTIG, LLC is acting as sole book-running manager for the offering.

The Company has granted the underwriter a 45-day option to purchase up to an additional 3,300,000 units at the initial public offering price to cover over-allotments, if any. The offering is expected to close on June 11, 2025, subject to customary closing conditions.

A registration statement relating to the securities sold in the initial public offering was declared effective by the U.S. Securities and Exchange Commission (the "SEC") on June 9, 2025. The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from: BTIG, LLC, 65 East 55th Street, New York, New York 10022, or by email at ProspectusDelivery@btig.com, or by accessing the SEC's website at www.sec.gov.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Blue Water Acquisition Corp. III

Blue Water Acquisition Corp. III is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an acquisition opportunity in any business, industry, sector or geographical location, the Company intends to focus on high-potential companies in the artificial intelligence (AI), biotechnology, healthcare and technology sectors.

Forward-Looking Statements

This press release contains statements that constitute "forward-looking statements," including with respect to the Company's initial public offering and search for an initial business combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and preliminary prospectus for the Company's initial public offering filed with the SEC. Copies are available on the SEC's website,www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this press release, except as required by law.

Contact:
Stephanie Mercier
15 E. Putnam Avenue, Suite 363
Greenwich, CT 06830
stephbluewatervp@gmail.com 

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SOURCE Blue Water Acquisition Corp iii

FAQ

What is the IPO price and size for Blue Water Acquisition Corp. III (BLUWU)?

Blue Water Acquisition Corp. III is offering 22,000,000 units at $10.00 per unit, totaling $220 million in its initial public offering.

What does each BLUWU unit consist of?

Each unit consists of one Class A ordinary share and one-half of one redeemable warrant, with each whole warrant exercisable at $11.50 per share.

When will BLUWU start trading on Nasdaq?

BLUWU units are expected to begin trading on the Nasdaq Global Market on June 10, 2025.

Who is the CEO of Blue Water Acquisition Corp. III?

Joseph Hernandez serves as the Chairman and Chief Executive Officer of Blue Water Acquisition Corp. III.

What are the trading symbols for Blue Water Acquisition Corp. III securities?

The units will trade as BLUWU, while the Class A shares and warrants will later trade separately under BLUW and BLUWW respectively.

Who is the underwriter for the BLUWU IPO?

BTIG, LLC is acting as the sole book-running manager for the offering.