Blue Water Acquisition Corp. IV (BWIV.W) Warrant
Each BWIV.W warrant gives the holder the right to buy 1 share of Blue Water Acquisition Corp. IV at $11.50 per share, for five years after the company completes its merger. The stock last closed at $9.97, below the strike, so the warrant is out of the money. Blue Water Acquisition Corp. IV has a market value of about $177.05M. Blue Water Acquisition Corp. IV is a SPAC (letter of intent signed with Maha Capital AB (subsidiaries)). It must complete a deal by December 23, 2027 or the warrants expire worthless. There are 6.50M listed warrants; exercising all of them would add 36.6% to the 17.76M shares outstanding.
Key terms
- Strike per share
- $11.50
- Shares per warrant
- 1
- Cash to exercise one warrant
- $11.50
- Expiry
- merger + 5 years
- Redemption trigger
- $18.00
- Cashless exercise
- allowed
- Break-even stock price
- $11.75
From the issuer's S-1/A (2026-03-11).
Company and stock
- Company
- Blue Water Acquisition Corp. IV
- Underlying stock
- BWIV
- Share price
- $9.97
- Market cap
- $177.05M
- Shares outstanding
- 17.76M
- Range since May 2026
- $9.88 – $10.00
- Change since May 2026
- +0%
- Value of all listed warrants
- $1.62M (0.9% of market cap)
- Industry
- Blank check company (SPAC)
- Head office
- Greenwich, CT
- Incorporated in
- Cayman Islands
Market cap is the last share price times shares outstanding (as of 10-Q 2026-). Industry and head office are as the company reports them to the SEC. All SEC filings for this company.
Model value vs price Pro
- Model value
- Last price
- $0.2500
- Price / model
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Dilution
- Shares outstanding
- 17.76M
- Listed warrants
- 6.50M
- Dilution if all exercised
- 36.6%
Warrant count from filing text: public warrants.
SPAC deal
- Status
- letter of intent signed
- Target
- Maha Capital AB (subsidiaries)
- Deal announced
- —
- Deadline
- 2027-12-23
- Latest possible deadline
- 2027-12-23
- Trust per share
- $10.10
- Sponsor
- Blue Water Acquisition IV LLC
- Sponsor's earlier SPACs
- 2 (1 closed a deal)
- Chance of a deal
A SPAC warrant is worth nothing if no deal closes by the deadline.
Filings and events
Questions about BWIV.W
When does the BWIV.W warrant expire?
Five years after the SPAC completes its merger; if no merger closes by the deadline, the warrants expire worthless.
What is the strike price of BWIV.W?
$11.50 per share; each warrant converts into 1 share, so exercising one warrant costs $11.50.
How many BWIV.W warrants are outstanding?
6.50M listed warrants, equal to 36.6% dilution if all are exercised.
Related warrants
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