Here are the 10-Q quarterly reports from Blue Water Acquisition Corp. III Warrant (BLUWW) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow BLUWW and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full BLUWW filings page.
Blue Water Acquisition Corp. III, a Cayman Islands SPAC, reported June 30, 2026 unaudited results while still seeking a Business Combination and having no operating revenues. Total assets were $263.5 million, almost entirely cash and marketable securities in a Trust Account of $263.4 million supporting 25,300,000 redeemable Class A shares.
Current liabilities were $748,633, including a $500,000 working capital note from the new sponsor, and there was a working capital deficit of $627,254. Shareholders’ deficit totaled $9.5 million, largely from accumulated deficit and SPAC structure accretion mechanics.
For the six months ended June 30, 2026, the company recorded net income of $4.0 million, driven by $4.6 million of interest on Trust investments, offset by $0.6 million of operating expenses, mainly legal and accounting. Management discloses substantial doubt about the ability to continue as a going concern for one year from issuance, given limited cash ($32,560 outside the Trust) and dependence on sponsor working-capital loans and completing a Business Combination within the 24‑month completion window.
Blue Water Acquisition Corp. III reports first‑quarter 2026 net income of $1.9 million, mainly from $2.3 million of interest on cash and marketable securities in its Trust Account, while operating expenses were $353,560. Total assets were $261.6 million, with $261.1 million held in the Trust Account for a future business combination.
The SPAC remains pre‑revenue and continues to search for a merger target. Management discloses a working capital deficit and says these conditions raise substantial doubt about the company’s ability to continue as a going concern one year from the financial statement issuance date.