Oaktree Acquisition Corp. III Life Sciences
For the period ended Dec 31, 2025. Filed Mar 26, 2026.
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FY2025 · Filed Mar 26, 2026
OACC$10.70-0.2%Stored close · as of Nov 5, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Balance Sheets as of December 31, 2025 and 2024
BALANCE SHEETS
| December 31, 2025 | December 31, 2024 | |
|---|---|---|
| ASSETS | ||
| Current assets | ||
| Cash | $1,434,965 | $1,357,044 |
| Prepaid expenses | 113,275 | 201,281 |
| Total current assets | 1,548,240 | 1,558,325 |
| Long-term prepaid insurance | — | 113,275 |
| Cash held in Trust Account | 201,563,532 | 193,579,022 |
| TOTAL ASSETS | 203,111,772 | 195,250,622 |
| LIABILITIES, CLASS A ORDINARY SHARES SUBJECT TO POSSIBLE REDEMPTION AND SHAREHOLDERS’ DEFICIT | ||
| Current liabilities | ||
| Accounts payable and accrued expenses | 501,968 | 535,515 |
| Accrued offering costs | — | 179,984 |
| Due to related party | 785,857 | — |
| Promissory note - related party | 11,824 | 11,824 |
| Total current liabilities | 1,299,649 | 727,323 |
| Deferred legal fees | 299,088 | 299,088 |
| Deferred underwriting fee payable | 6,719,660 | 6,719,660 |
| Total Liabilities | 8,318,397 | 7,746,071 |
| Commitments and Contingencies (Note 5) | ||
| Class A ordinary shares subject to possible redemption, $0.0001 par value; 19,199,029 issued and outstanding as of December 31, 2025 and 2024; at redemption value of $10.50 and $10.08 per share as of December 31, 2025 and 2024, respectively | 201,563,532 | 193,579,022 |
| Shareholders’ Deficit | ||
| Preference shares, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding as of December 31, 2025 and 2024 | — | — |
| Class A ordinary shares, $0.0001 par value; 300,000,000 shares authorized; 583,981 issued and outstanding (excluding 19,199,029 shares subject to possible redemption) as of December 31, 2025 and 2024 | 58 | 58 |
| Class B ordinary shares, $0.0001 par value; 30,000,000 shares authorized; 4,799,758 shares issued and outstanding as of December 31, 2025 and 2024 | 480 | 480 |
| Additional paid-in capital | — | — |
| Accumulated deficit | (6,770,695) | (6,075,009) |
| Total Shareholders’ Deficit | (6,770,157) | (6,074,471) |
| TOTAL LIABILITIES, CLASS A ORDINARY SHARES SUBJECT TO POSSIBLE REDEMPTION AND SHAREHOLDERS’ DEFICIT | $203,111,772 | $195,250,622 |
STATEMENTS OF OPERATIONS
| For the Year Ended December 31, | For the period from June 28, 2024 (inception) through December 31, | |
|---|---|---|
| 2025 | 2024 | |
| General and administrative expenses | $1,195,687 | $351,806 |
| Loss from operations | (1,195,687) | (351,806) |
| Other income: | ||
| Change in fair value of over-allotment liability | — | 94,781 |
| Interest earned on cash held in Trust Account | 8,484,511 | 1,588,732 |
| Total other income | 8,484,511 | 1,683,513 |
| Net income | $7,288,824 | $1,331,707 |
| Weighted average shares outstanding of redeemable Class A ordinary shares | 19,199,029 | 6,776,020 |
| Basic and diluted net income per share, Class A ordinary shares | 0.30 | 0.12 |
| Weighted average shares outstanding of non-redeemable Class A and B ordinary shares(1) | 5,383,738 | 4,701,459 |
| Basic and diluted net income per share, non-redeemable Class A ordinary shares and Class B ordinary shares | 0.30 | 0.12 |
| (1) | For the period from June 28, 2024 (inception) through December 31, 2024 excluded 656,250 Class B ordinary shares subject to forfeiture if the over-allotment option was not exercised in full or in part by the underwriters (Note 5). On October 30, 2024, the underwriters closed on the partial exercise of the over-allotment option granted to the underwriters of the Initial Public Offering and purchased an additional 1,699,029 Public Units. The underwriters have forfeited their right to purchase the remaining 925,972 Public Units that they were entitled to purchase under their over-allotment option, consequently 231,492 of Class B ordinary shares were forfeited and cancelled on that date. |
STATEMENTS OF CHANGES IN SHAREHOLDERS’ DEFICIT
FOR THE YEARS ENDED DECEMBER 31,2025 AND FOR THE PERIOD FROM
JUNE 28, 2024 (INCEPTION) THROUGH DECEMBER 31, 2024
| Class A Ordinary Shares · Class B Ordinary Shares · Additional Paid-in Capital · Accumulated Deficit · Total Shareholders’ Deficit | |||||||
|---|---|---|---|---|---|---|---|
| Shares · Amount · Shares · Amount | |||||||
| Balance – June 28, 2024 (inception) | — | $— | — | $— | $— | $— | $— |
| Issuance of Class B ordinary shares to Sponsor | — | — | 5,031,250 | 503 | 24,497 | — | 25,000 |
| Sale of 550,000 private placement units | 583,981 | 58 | — | — | 5,839,752 | — | 5,839,810 |
| FV of Public Warrants at issuance | — | — | — | — | 215,029 | — | 215,029 |
| Forfeiture of Founder Shares | — | — | (231,492) | (23) | 23 | — | — |
| Allocated value of transaction costs to Class A ordinary shares | — | — | — | — | (48,996) | — | (48,996) |
| Accretion for Class A ordinary shares subject to redemption | — | — | — | — | (6,030,305) | (7,406,716) | (13,437,021) |
| Net income | — | — | — | — | — | 1,331,707 | 1,331,707 |
| Balance – December 31, 2024 | 583,981 | 58 | 4,799,758 | 480 | — | (6,075,009) | (6,074,471) |
| Accretion for Class A ordinary shares subject to redemption | — | — | — | — | — | (7,984,510) | (7,984,510) |
| Net income | — | — | — | — | — | 7,288,824 | 7,288,824 |
| Balance – December 31, 2025 | 583,981 | 58 | 4,799,758 | 480 | — | (6,770,695) | (6,770,157) |
STATEMENTS OF CASH FLOWS
| For the Year Ended December 31, 2025 | For the period from June 28, 2024 (inception) through December 31, 2024 | |
|---|---|---|
| Cash Flows from Operating Activities: | ||
| Net income | $7,288,824 | $1,331,707 |
| Adjustments to reconcile net income to net cash used in operating activities: | ||
| Interest earned on cash held in Trust Account | (8,484,511) | (1,588,732) |
| Change in fair value of over-allotment liability | — | (94,781) |
| Payment of operating costs through promissory note | — | 41,160 |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses | 88,005 | (201,281) |
| Long-term prepaid insurance | 113,275 | (113,275) |
| Accounts payable and accrued expenses | (33,545) | 535,515 |
| Accrued offering costs | (179,984) | — |
| Due to related party | 785,857 | — |
| Net cash used in operating activities | (422,079) | (89,687) |
| Cash Flows from Investing Activities: | ||
| Investment of cash in Trust Account | — | (191,990,290) |
| Cash withdrawn from Trust Account for allowable working capital purposes | 500,000 | — |
| Net cash provided by investing activities | 500,000 | (191,990,290) |
| Cash Flows from Financing Activities: | ||
| Proceeds from sale of Units, net of underwriting discounts paid | — | 188,148,351 |
| Proceeds from sale of Private Placement Units | — | 5,839,810 |
| Repayment of promissory note—related party | — | (551,140) |
| Net cash provided by financing activities | — | 193,437,021 |
| Net Change in Cash | 77,921 | 1,357,044 |
| Cash – Beginning of period | 1,357,044 | — |
| Cash – End of period | $1,434,965 | $1,357,044 |
| Non-cash investing and financing activities: | ||
| Offering costs included in accrued offering costs | $— | $179,984 |
| Deferred offering costs paid by Sponsor in exchange for issuance of Class B ordinary shares | $— | $25,000 |
| Deferred offering costs paid through promissory note – related party | $— | $128,893 |
| Prepaid services contributed by Sponsor through promissory note—related party | $— | $392,910 |
| Deferred underwriting fee payable | $— | $6,719,660 |
| Deferred legal fee payable | $— | $299,088 |
| Forfeiture of Founder Shares | $— | $23 |
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