Blue Water Acquisition Corp. III (BLUWW) Warrant
Each BLUWW warrant gives the holder the right to buy 1 share of Blue Water Acquisition Corp. III at $11.50 per share, for five years after the company completes its merger. Blue Water Acquisition Corp. III is a SPAC (no deal announced yet). It must complete a deal by June 11, 2027 or the warrants expire worthless. There are 12.65M listed warrants; exercising all of them would add 39.1% to the 32.31M shares outstanding.
BLU vs strike, last 12 months
No share-price history for BLU yet.
Key terms
- Strike per share
- $11.50
- Shares per warrant
- 1
- Cash to exercise one warrant
- $11.50
- Expiry
- merger + 5 years
- Redemption trigger
- $18.00
- Cashless exercise
- no
- Break-even stock price
- $11.78
From the issuer's S-1/A (2025-05-23).
Company and stock
- Company
- Blue Water Acquisition Corp. III
- Underlying stock
- BLU
- Share price
- —
- Market cap
- —
- Shares outstanding
- 32.31M
- Value of all listed warrants
- $3.54M
Market cap is the last share price times shares outstanding (as of 10-Q 2026-). All SEC filings for this company.
Model value vs price Pro
- Model value
- Last price
- $0.2801
- Price / model
Get Pro to see whether BLUWW is cheap or rich against our model.
Dilution
- Shares outstanding
- 32.31M
- Listed warrants
- 12.65M
- Dilution if all exercised
- 39.1%
Warrant count from filing iXBRL: PublicWarrantsMember.
SPAC deal
- Status
- no deal announced yet
- Target
- —
- Deal announced
- —
- Deadline
- 2027-06-11
- Latest possible deadline
- 2027-06-11
- Trust per share
- $10.41
- Sponsor
- Blue Water Acquisition III LLC
- Sponsor's earlier SPACs
- 1 (1 closed a deal)
- Chance of a deal
A SPAC warrant is worth nothing if no deal closes by the deadline.
Filings and events
Questions about BLUWW
When does the BLUWW warrant expire?
Five years after the SPAC completes its merger; if no merger closes by the deadline, the warrants expire worthless.
What is the strike price of BLUWW?
$11.50 per share; each warrant converts into 1 share, so exercising one warrant costs $11.50.
How many BLUWW warrants are outstanding?
12.65M listed warrants, equal to 39.1% dilution if all are exercised.