Blue Water Acquisition Corp. III (BLUWU) increased its SPAC IPO’s size to 22.0 million units – up from 20.0 million units – and priced the deal at $10.00 per unit – the price in the prospectus – to raise $220.0 million on Monday night, June 9, 2025. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant.
Blue Water Acquisition III opened at $10.02 – up 2 cents – at 10:41 a.m. EDT on Tuesday, June 10, 2025 – its first day of NASDAQ trading – and ended the day flat – at $10.00 – its IPO price – on volume of about 10.65 million.
Joseph Hernandez, chairman and CEO since Blue Water Acquisition III’s inception, is an entrepreneurial leader with over 25 years of experience in the healthcare field, according to the prospectus. He is the founder of Blue Water Venture Partners, LLC, an investment firm, where he is also the senior managing partner. He is also the chairman and founder of several other biotech companies, including Perseus Therapeutics, Inc., spun out of Duke University and focused on developing novel therapies for preventing hair loss in chemotherapy-treated cancer patients and for cosmetic use, as well as Temple Street Biotech, Inc., focused on advancing Alzheimer’s disease treatments.
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