Hernandez Joseph 4

What Happened

• Joseph Hernandez, identified as CEO and the managing member of Blue Water Acquisition IV LLC (the sponsor of Blue Water Acquisition Corp. IV, ticker BWIV), is associated with a private purchase of 275,000 private units on 2026-03-23. Each unit consists of one Class A ordinary share and one-half of one warrant, so the units represent 275,000 Class A shares plus 137,500 warrants. The private units were purchased at $10.00 per unit for an aggregate purchase price of $2,750,000 (transaction code P — purchase). Hernandez has voting and dispositive power over the securities held by the sponsor but disclaims beneficial ownership except to the extent of his pecuniary interest.

Key Details

• Transaction date: 2026-03-23; Form 4 filed: 2026-03-24 (timely).
• Purchase: 275,000 private units at $10.00/unit; total $2,750,000.
• Derivative component: 137,500 warrants (one-half warrant per unit).
• Warrants terms (footnote): become exercisable at the later of 12 months after the IPO closing or 30 days after completion of an initial business combination; expire five years after the business combination (subject to earlier redemption or liquidation).
• Ownership reported: 275,000 private units held of record by the sponsor. Hernandez disclaims beneficial ownership of the sponsor-held securities except for any pecuniary interest.
• Filing appears timely (no late filing flag).

Context

• These were private sponsor units sold at the time of the SPAC formation (typical sponsor stake), not an open-market purchase of secondary stock. The warrants are unexercisable for now per their timing conditions and were not exercised or sold; they are part of the initial sponsor package rather than an immediate market trade. This purchase is a sponsor investment rather than a direct personal open-market buy of existing public float.