SCHEDULE: Magnetar Discloses 5.77% Stake in Blue Water III

Magnetar Financial LLC and its affiliates have reported a 5.77% beneficial ownership stake in Blue Water Acquisition Corp. III's Class A ordinary shares.

Summary

• Magnetar Financial LLC, Magnetar Capital Partners LP, Supernova Management LLC, and David J. Snyderman collectively reported beneficial ownership of 1,500,000 Class A ordinary shares of Blue Water Acquisition Corp. III.
• This ownership represents approximately 5.77% of the total Class A ordinary shares outstanding, based on 25,983,000 shares outstanding as per the Issuer's prospectus filed on June 11, 2025.
• The shares are held across various Magnetar Funds, including Constellation Master Fund (330,000 shares), Lake Credit Fund (270,000 shares), Structured Credit Fund (195,000 shares), Xing He Master Fund (255,000 shares), Alpha Star Fund (180,000 shares), Purpose Credit Fund (150,000 shares), SC Fund (90,000 shares), and Waterfront Series A Fund (30,000 shares).
• The reporting persons share both voting and dispositive power over all 1,500,000 shares.
• The filing is a Schedule 13G, indicating a passive investment stake held in the ordinary course of business, not for the purpose of changing or influencing control of the issuer.

Sentiment

Score: 5

Explanation: The filing is a standard beneficial ownership report, indicating a passive investment stake and does not contain information that would inherently suggest positive or negative sentiment regarding the company's performance or prospects.

Future Outlook

NA

Industry Context

This filing is a standard disclosure of a significant passive ownership stake by an institutional investor in a Special Purpose Acquisition Company (SPAC). Such filings are common as SPACs progress through their lifecycle, attracting various types of institutional capital.

Related Party Transactions

• The filing details the organizational structure of the reporting persons: Magnetar Financial LLC serves as the investment adviser to the Magnetar Funds, Magnetar Capital Partners LP is the sole member and parent holding company of Magnetar Financial, and Supernova Management LLC is the general partner of Magnetar Capital Partners, with David J. Snyderman as the manager of Supernova Management LLC.

Stakeholder Impact

• Indicates significant institutional investor interest in Blue Water Acquisition Corp. III, which may be viewed positively by existing and potential shareholders.

Key Dates

Keywords

Blue Water Acquisition Corp. III, Magnetar Financial, Schedule 13G, Beneficial Ownership, Class A ordinary shares, Institutional Investor, SPAC, Investment Fund