{"url_path":"/sec/oaccw/10-q/2026/cover-page","section_key":"cover-page","section_title":"Cover Page","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-13","source_url":"https://www.sec.gov/Archives/edgar/data/2029769/0001193125-26-221814-index.html","accession_number":"0001193125-26-221814","cik":"0002029769","ticker":"OACC","issuer_name":"Oaktree Acquisition Corp. III Life Sciences","edgar_url":"https://www.sec.gov/Archives/edgar/data/2029769/0001193125-26-221814-index.html","primary_entity_key":"0002029769","primary_entity_name":"Oaktree Acquisition Corp. 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0002029769 us-gaap:AdditionalPaidInCapitalMember 2024-12-31 0002029769 us-gaap:CommonClassAMember us-gaap:CommonStockMember 2025-03-31 0002029769 us-gaap:CommonClassBMember us-gaap:CommonStockMember 2025-03-31 0002029769 us-gaap:AdditionalPaidInCapitalMember 2025-03-31 0002029769 us-gaap:RetainedEarningsMember 2025-03-31 xbrli:shares iso4217:USD xbrli:pure utr:Day iso4217:USD xbrli:shares utr:Year ck0002029769:segment utr:Y\n\n \n\n \n\nUNITED STATES\n\nSECURITIES AND EXCHANGE COMMISSION\n\nWashington, D.C. 20549\n\n \n\n \n\nFORM\n10-Q\n\n \n\n \n\n(MARK ONE)\n\n☒\n\nQUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the quarter ended March 31, 2026\n\n \n\n☐\n\nTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the transition period from       to      \n\nCommission file\nnumber:\n \n001-42383\n\n \n\n \n\nOAKTREE ACQUISITION CORP. III LIFE SCIENCES\n\n(Exact Name of Registrant as Specified in Its Charter)\n\n \n\n \n\n \n\nCayman Islands\n\n \n\n98-1799512\n\n(State or other jurisdiction of\n\nincorporation or organization)\n\n \n\n(I.R.S. Employer\n\nIdentification No.)\n\n333 South Grand Avenue, 28th Floor\n\nLos Angeles, California 90071\n\n(Address of principal executive offices)\n\n+1\n \n(213)\n \n830-6300\n\n(Issuer’s telephone number)\n\n \n\n \n\nSecurities registered pursuant to Section 12(b) of the Act:\n\n \n\nTitle of each class\n\n \n\nTrading\n\nSymbol(s)\n\n \n\nName of each exchange\n\non which registered\n\nUnits, each consisting of one Class A ordinary share, $0.0001 par value, and\none-fifth\nof one redeemable warrant\n\n \n\nOACCU\n\n \n\nThe Nasdaq Stock Market LLC\n\nClass A ordinary shares included as part of the units\n\n \n\nOACC\n\n \n\nThe Nasdaq Stock Market LLC\n\nRedeemable warrants included as part of the units, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50\n\n \n\nOACCW\n\n \n\nThe Nasdaq Stock Market LLC\n\nCheck whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐\n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation\nS-T\n(§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). \nYes\n ☒ No ☐\n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See definitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company”, and “emerging growth company” in\nRule 12b-2\nof the Exchange Act.\n\n \n\nLarge accelerated filer\n \n☐\n  \nAccelerated filer\n \n☐\n\nNon-accelerated\nfiler\n \n☒\n  \nSmaller reporting company\n \n☒\n\n \n\n  \nEmerging growth company\n \n☒\n\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. \n☐\n\nIndicate by check mark whether the registrant is a shell company (as defined in\nRule 12b-2\nof the Exchange Act). Yes ☒ No ☐\n\nAs of May 13, 2026, there were 19,783,010 Class A ordinary shares, $0.0001 par value and 4,799,758 Class B ordinary shares, $0.0001 par value, issued and outstanding.\n\n \n\n \n\n \n\n##### Table of Contents\n\nOAKTREE ACQUISITION CORP. III LIFE SCIENCES\n\nFORM 10-Q FOR THE QUARTER ENDED MARCH 31, 2026\n\nTABLE OF CONTENTS\n\n \n\n \n  \nPage\n \n\n[Part I. Financial Information](#fin787030_1)\n\n  \n \n1\n \n\n[Item 1. Interim Financial Statements](#fin787030_2)\n\n  \n \n1\n \n\n[Condensed Balance Sheets as of March 31, 2026 (Unaudited) and December 31, 2025](#fin787030_3)\n\n  \n \n1\n \n\n[Condensed Statements of Operations for the three months ended March 31, 2026 and 2025 (Unaudited)](#fin787030_4)\n\n  \n \n2\n \n\n[Condensed Statements of Changes in Shareholders’ Deficit for the three months ended March 31, 2026 and 2025 (Unaudited)](#fin787030_5)\n\n  \n \n3\n \n\n[Condensed Statements of Cash Flows for the three months ended March 31, 2026 and 2025 (Unaudited)](#fin787030_6)\n\n  \n \n4\n \n\n[Notes to Condensed Financial Statements (Unaudited)](#fin787030_7)\n\n  \n \n5\n \n\n[Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations](#fin787030_8)\n\n  \n \n17\n \n\n[Item 3. Quantitative and Qualitative Disclosures About Market Risk](#fin787030_9)\n\n  \n \n21\n \n\n[Item 4. Controls and Procedures](#fin787030_10)\n\n  \n \n21\n \n\n[Part II. Other Information](#fin787030_11)\n\n  \n \n22\n \n\n[Item 1. Legal Proceedings](#fin787030_12)\n\n  \n \n22\n \n\n[Item 1A. Risk Factors](#fin787030_13)\n\n  \n \n22\n \n\n[Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](#fin787030_14)\n\n  \n \n22\n \n\n[Item 3. Defaults Upon Senior Securities](#fin787030_15)\n\n  \n \n22\n \n\n[Item 4. Mine Safety Disclosures](#fin787030_16)\n\n  \n \n22\n \n\n[Item 5. Other Information](#fin787030_17)\n\n  \n \n22\n \n\n[Item 6. Exhibits](#fin787030_18)\n\n  \n \n23\n \n\n[Part III. Signatures](#fin787030_19)\n\n  \n \n24\n \n\n##### Table of Contents\n\nhttp://fasb.org/us-gaap/2025#RelatedPartyMemberhttp://fasb.org/us-gaap/2025#RelatedPartyMember\n\nPART I - FINANCIAL INFORMATION"}