Blue Water Acquisition III Q2 FY26 net income more than doubled to $2.1 million
BLUW•Working capital note issued
The company issued a $500,000 non-interest Working Capital Note to the New Sponsor, convertible into units at $10 upon a business combination.
Costs and balance sheet items
Legal and accounting costs climbed to $120,064 from $12,723; formation and administrative expense narrowed to $37,837 from $89,301.
Cash outside the trust account was $32,560 at June 30, 2026, with a working capital deficit of $627,254.
Quarterly net income rose on higher trust income
Blue Water Acquisition III posted net income of $2.1 million in the quarter ended June 30, 2026, up from $444,392 a year earlier.
Interest and dividend income from Trust Account investments rose to $2.3 million from $556,881.
