FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Hernandez Joseph		 2. Issuer Name and Ticker or Trading Symbol

Clarus Therapeutics Holdings, Inc. [ CRXT ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__X__ Director                    _____ 10% Owner
_____ Officer (give title below)    _____ Other (specify below)
(Last)          (First)          (Middle)

15 E. PUTNAM AVENUE, SUITE 363		 3. Date of Earliest Transaction (MM/DD/YYYY)

4/25/2022
(Street)

GREENWICH, CT 06830
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
 6. Individual or Joint/Group Filing (Check Applicable Line)

_X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 4/25/2022  J(1)  65000 D$0 1237500 I see footnote (2)
Common Stock 4/25/2022  J(3)  1237500 A$0 1241344 (4)D (3)(4) 

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)		2. Conversion or Exercise Price of Derivative Security3. Trans. Date3A. Deemed Execution Date, if any4. Trans. Code
(Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)		8. Price of Derivative Security
(Instr. 5)		9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Warrants $11.5 4/25/2022  A (3)  3445000    9/9/2021 9/9/2026 Common Stock (5)3445000 $1.0 3445000 D (5) 
Explanation of Responses:
(1) Represents the transfer of an aggregate of 65,000 shares of common stock held by Blue Water Sponsor LLC (the "Sponsor") to certain affiliates of the Sponsor pursuant to certain share transfer agreements by and between the Sponsor and each transferee.
(2) Mr. Joseph Hernandez, a director and former chief executive officer of the registrant, is the managing member of the Sponsor. Accordingly, Mr. Hernandez may be deemed to have beneficial ownership of such shares. Mr. Hernandez disclaims any beneficial ownership of the reported shares other than to the extent of any pecuniary interest he may have therein, directly or indirectly.
(3) Represents the transfer of an aggregate of 1,237,500 shares of common stock and 3,445,000 warrants held by the Sponsor to Mr. Hernandez, pursuant to that certain share transfer agreement entered by and between the Sponsor and Mr. Hernandez. Mr. Hernandez will be the holder of record of these securities after the transfer.
(4) Represents shares of common stock held directly by Mr. Hernandez, including (1) 1,237,500 shares of common stock transferred from the Sponsor and (2) 3,844 shares of common stock underlying the Restricted Stock Unit granted to Mr. Hernandez under the Issuer's 2021 Stock Option and Incentive Plan (the "2021 Plan") on 12/12/2021, which vests in equal annual installments over three years from the date of grant subject to the Reporting Person having a service relationship as of each such vesting date.
(5) The Sponsor acquired these warrants for a purchase price of $1.00 per warrant in connection with the initial public offering of the registrant. The warrants became eligible for exercise upon consummation of the registrant's initial business combination on September 9, 2021. Each whole warrant is exercisable to purchase one share of the registrant's common stock at an exercise price of $11.50.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director10% OwnerOfficerOther
Hernandez Joseph
15 E. PUTNAM AVENUE, SUITE 363
GREENWICH, CT 06830		X
Signatures
/s/ Joseph Hernandez4/27/2022
**Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note:File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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