Blue Water Acquisition Corp. III has announced the issuance of a $500,000 convertible unsecured promissory note to Yorkville BW Acquisition Sponsor, LLC to provide additional working capital. The note, which does not accrue interest, is payable upon the company's initial business combination or winding up. At the sponsor's election and upon consummation of the initial business combination, the note may be converted into up to 50,000 New Units, each comprising one Class A ordinary share and one-half of a redeemable warrant. The New Units will be issued at a conversion price of $10.00 per unit under a private placement exempt from registration pursuant to Section 4(a)(2) of the Securities Act of 1933.

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