Bluewater Acquisition Corp (TSXV:BAQ.P) announced that it has entered into an agreement for a private placement of 3,145,000 pre-paid warrants at a price of CAD 1 per warrant for gross proceeds of CAD 3,145,000 with Blue Water Sponsor LLC on November 30, 2020. The company will issue additional 300,000 warrants if the underwriters’ over-allotment option is exercised in full. Each warrant is exercisable at CAD 11.5 per class A share, subject to adjustments. The transaction will close concurrently with public offering. The private placement warrants will be non-redeemable. The warrants will not be transferable, assignable or salable until 30 days after the completion of our initial business combination.