Blue Water Acquisition Corp. IV

Blue Water Acquisition Corp. IV is a blank check company incorporated in the Cayman Islands on August 1, 2025, formed to effect a merger, share exchange, asset acquisition, or similar business combination with one or more businesses, with a focus on biotechnology, healthcare, and technology sectors. The company has no current operations or revenues, relying on proceeds from its initial public offering to fund the search for a target. It is offering 12,500,000 units at $10.00 each, totaling $125 million gross proceeds (up to $143.75 million if the underwriters' 1,875,000-unit over-allotment option is exercised in full), with $125 million (or $143.75 million) deposited into a U.S.-based trust account invested in U.S. government securities or money market funds. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant (whole warrants exercisable at $11.50 per share after 12 months or 30 days post-business combination, expiring five years thereafter). Concurrently, the sponsor and BTIG will purchase 415,000 private placement units at $10.00 each ($4.15 million). The company has 21 months from offering closing to complete an initial business combination, extendable with shareholder approval. Public shareholders can redeem shares at approximately $10.00 per share upon business combination or liquidation. Management, led by Joseph Hernandez, has prior SPAC experience. The investment thesis centers on leveraging management's biotech and tech expertise to identify high-potential targets, though success is uncertain given no target identified and high redemption risks.

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