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Filing Details

Accession Number:: 0001013762-23-006315
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2023-10-24 16:41:19
Reporting Period:: 2023-10-20

Accepted Time:: 2023-10-24 16:41:19
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1878074	Blue World Acquisition Corp	BWAQ	Blank Checks (6770)	000000000

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1892597	Ltd Holdings World Blue	I/C/O Blue World Acquisition Corporation 244 Fifth Avenue, Suite B-88 New York NY 10001		No	No	Yes	No

Reported Non-Derivative Transactions

Show Other Fields >>

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Class B Ordinary Shares	Disposition	2023-10-20	400,000	$1,200,000.00	1,880,000	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Direct

Footnotes

Class B ordinary shares will automatically convert into Class A ordinary shares on one-for-one basis, subject to certain adjustments as provided in the amended and restated memorandum and articles of association of Blue World Acquisition Corporation (the "Issuer") upon the consummation of an initial business combination.
Representing 400,000 Class B ordinary shares that Blue World Holdings Limited (the "Sponsor") transferred to one of its members pursuant to certain sponsor support agreement and the agreement and plan of merger dated August 10, 2023 (the "Transfer"). In May 2023, the Sponsor issued 2,500 of its preference shares to one of its members for the purchase price of $1,200,000 in connection with a proposed business combination. Each preference share of the Sponsor entitles such member to receive 160 Class B ordinary shares of the Issuer.
Sponsor, a Hong Kong private company limited by shares, is the record holder of the insider shares reported herein. Sponsor is governed by a board of managers consisting of five members. Each member has one vote, and the approval of a majority of the board is required to approve an action of the Sponsor. Under the so-called "rule of three," if voting and dispositive decisions regarding an entity's securities are made by three or more individuals, and a voting or dispositive decision requires the approval of a majority of those individuals, then no individual is deemed a beneficial owner of the entity's securities. Therefore, no director of Sponsor exercises voting or dispositive control over any of the securities held by Sponsor, even those in which he or she directly holds a pecuniary interest. Accordingly, none of them are deemed to have or share beneficial ownership of such shares.
As previously reported on the Form 3 of the Sponsor dated February 2, 2023, immediately prior to the Transfer, the Sponsor held an aggregate of 2,280,000 Class B ordinary share of the Issuer. As a result of this Transfer, the Sponsor currently holds 1,880,000 Class B ordinary share of the Issuer.