Blue Water Acquisition Corp. III (BLUW) Form 10-Q — May 15, 2026
Blue Water Acquisition Corp. III reported net income of $1.92 million for the three months ended March 31, 2026, driven primarily by $2.28 million in interest income earned on its trust account, which offset $353,560 in operating expenses. The company disclosed a material weakness in its internal controls over financial reporting, citing a lack of properly designed and implemented controls. Management has committed to a remediation plan but noted that disclosure controls were not effective as of the period end.
Key figures
- Eps
- 0.08
- Net Income
- 1924957
- Total Assets
- 261585561
- Cash Position
- 420414
- Interest Income Trust
- 2278517
- Trust Account Balance
- 261075080
- Working Capital Note Outstanding
- 500000
Price after filing
Close on the filing date to close N calendar days later (from $10.25). Historical, not a forecast.
AI analysis
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