Blue Water Acquisition Corp. III 8-K

What Happened

• Blue Water Acquisition Corp. III announced on January 21, 2026 that its board approved a new form of Indemnity Agreement to be entered into with the company’s directors and officers who were appointed on November 25, 2025.
• The new agreement replaces the prior form (filed as Exhibit 10.6 to the company’s June 12, 2025 8‑K) and applies only to the current directors and officers; the prior directors and officers resigned on November 25, 2025.

Key Details

• Approval date: January 21, 2026; affected appointees: directors and officers appointed November 25, 2025.
• The agreement obligates the company to indemnify, hold harmless and exonerate each indemnitee to the fullest extent permitted by applicable law and the company’s amended and restated memorandum and articles.
• It provides for advancement of expenses to the fullest extent not prohibited by Cayman Islands or Delaware law (whichever is more favorable to the indemnitee).
• The Indemnity Agreement is filed as Exhibit 10.1 to the 8‑K.

Why It Matters

• For investors, this clarifies the company’s contractual protections for its current directors and officers: it can cover defense costs and liabilities arising from service to the company, subject to legal and charter limits.
• Such indemnity agreements can help attract and retain management by reducing personal risk, but they also create potential contingent obligations for the company (no specific monetary amounts or immediate cash commitments were disclosed in the filing).