Oaktree Acquisition Corp. III Life Sciences (OACC) shareholders approved an amendment extending the deadline to complete a business combination from October 25, 2026, to November 25, 2026. If requested by the sponsor, OAC may extend the deadline monthly without another shareholder vote, for an aggregate extension period of up to seven months after the original deadline, ending no later than May 25, 2027, unless a business combination closes earlier.
At the October 23, 2026 meeting, the extension proposal received 17,956,072 votes for and 802,517 against, with no abstentions. Holders representing approximately 76.3% of voting power as of September 22, 2026, were present. In connection with the vote, holders redeemed 11,331,102 public shares for approximately $122,435,287, at approximately $10.805 per share. Separately, sponsor Oaktree Acquisition Holdings III LS, LLC converted 4,798,758 Class B ordinary shares into Class A shares. After conversion, the sponsor held 5,382,739 Class A shares, including 583,981 private placement shares, and 1,000 Class B shares.
Oaktree Acquisition Corp. III Life Sciences (OACC) Class B ordinary shares directly held by Oaktree Acquisition Holdings III LS, LLC were converted into 4,798,758 Class A ordinary shares on October 23, 2026. The Class B shares convert automatically into Class A shares on a one-for-one basis at the issuer’s initial business combination or earlier at the holder’s option. After the conversion, the LLC reported 5,382,739 Class A ordinary shares and 1,000 Class B ordinary shares. The other reporting persons were Oaktree Acquisition Holdings III LS GP, Ltd., Oaktree Capital Management, L.P., Oaktree Capital Management GP, LLC, and Oaktree Capital Holdings, LLC; all five reporting entities disclaim beneficial ownership except to the extent of their respective pecuniary interests.
Oaktree Acquisition Corp. III Life Sciences (OACC) postponed its extraordinary general meeting from October 16, 2026, to October 23, 2026, at 10:00 a.m. Eastern Time, to permit further proxy solicitation and voting. Shareholders will consider a proposal to extend the date by which the company must complete an initial business combination.
The September 22, 2026 record date remains unchanged. Previously submitted proxies remain valid unless properly revoked. Shareholders may attend online; in-person attendance requires a reservation by October 21, 2026, at 10:00 a.m. Eastern Time.
Oaktree Acquisition Corp. III Life Sciences (OACC) reported that holders tendered 13,326,977 Class A ordinary shares for redemption by the October 14, 2026 deadline in connection with its proposed extension of the time to complete an initial business combination. The extension proposal is scheduled for an October 16, 2026 shareholder meeting. Assuming those redemptions and the conversion described below, OAC would have 11,254,791 Class A ordinary shares and 1,000 Class B ordinary shares issued and outstanding. Shareholders may request redemption withdrawals through Continental Stock Transfer & Trust Company.
Before the extension becomes effective, Sponsor Oaktree Acquisition Holdings III LS, LLC intends to convert 4,798,758 Class B shares into the same number of Class A shares on a one-for-one basis. The converted shares would be Founder Shares, subject to the same restrictions as the former Class B shares, including transfer restrictions and an obligation to vote in favor of a Business Combination. They would not be redeemable, and the Sponsor waived the right to receive Trust Account funds for them. The conversion would not change the Sponsor’s voting power.
Oaktree Acquisition Corp. III Life Sciences (OACC) is asking shareholders to extend its deadline to complete a business combination from October 25, 2026 to November 25, 2026, with up to six additional one-month extensions, ending no later than May 25, 2027. Each added month would require a written request from the sponsor, a board resolution and five days’ advance notice. Shareholders are not being asked to approve a business combination; a separate proposal would permit adjournment if votes for the extension are insufficient or the board determines it necessary.
If approved, public Class A shareholders may redeem shares for their pro rata share of the Trust Account, regardless of their vote. The indicated redemption price was approximately $10.75 per Public Share as of September 30, 2026, with approximately $206,314,849 in the Trust Account. Requests are due by 5:00 p.m. Eastern Time on October 14, 2026, and redemptions by a shareholder and affiliated or concert group are limited to 15% of the Class A shares sold in the IPO without OAC’s consent. The extension proposal requires two-thirds of votes cast. If the extension is not approved and no business combination is completed by the applicable deadline, OAC would redeem public shares and liquidate; warrants would expire worthless.
Decagon Asset Management LLP and Benjamin John Durham report beneficial ownership of Class A ordinary shares of Oaktree Acquisition Corp. III Life Sciences. They collectively hold 1,091,327 shares, representing 5.52% of the outstanding Class A shares. They report sole voting and sole dispositive power over all 1,091,327 shares, with no shared voting or dispositive power.
Barclays PLC reports beneficial ownership of common stock of Oaktree Acquisition Corp I-A on a Schedule 13G. Barclays PLC, through Barclays Bank PLC, holds 1,384,810 shares, representing 6.99% of the company’s common stock. It has sole power to vote and dispose of all reported shares, with no shared voting or dispositive power disclosed.
Oaktree Acquisition Corp. III Life Sciences is a Cayman Islands special purpose acquisition company seeking a Business Combination and has not begun operating activities beyond deal search and public company compliance. Total assets were $206.5 million at June 30 2026, including $205.3 million in a U.S. Trust Account invested in interest-bearing deposits.
For the quarter ended June 30 2026, the company reported net income of $1.6 million, and $3.0 million for the six-month period, driven entirely by $3.7 million of interest on Trust Account funds, offset by $0.7 million of general and administrative expenses. Class A ordinary shares subject to possible redemption totaled 19,199,029 at a redemption value of $205.3 million.
Cash outside the Trust Account was $1.18 million with a working capital deficit of $469,905. Management discloses that the need to fund ongoing costs, dependence on potential loans from the Sponsor or others, and the requirement to complete a Business Combination by October 25 2026 (or obtain an extension) raise substantial doubt about the company’s ability to continue as a going concern.
Oaktree Acquisition Corp. III Life Sciences ownership disclosure: Fort Baker Capital Management LP and affiliated reporting persons state they beneficially own 1,000,000 Class A ordinary shares, representing 5.1% of the class. The filing cites 19,783,010 shares outstanding as of March 26, 2026. The reported holdings reflect shared voting and shared dispositive power over 1,000,000 shares; sole voting and dispositive power are reported as 0. The reporting persons say they are filing jointly but disclaim membership in a group and disclaim beneficial ownership except to the extent of any pecuniary interest.
Oaktree Acquisition Corp. III Life Sciences reported net income of $1,394,121 for the quarter ended March 31, 2026, driven by $1,850,659 of interest on cash held in its trust account and offset by $456,538 of general and administrative expenses.
Cash in the trust account reached $203,414,191, reflecting accretion of the redeemable Class A shares to a redemption value of $10.60 per share for 19,199,029 shares. The company held $1,276,930 of cash outside the trust and reported a working capital deficit of $207,947.
The SPAC has not yet selected a business combination target and continues to incur costs pursuing an acquisition. Management discloses that the need for additional capital, the October 25, 2026 deadline to complete a business combination, and the possibility of mandatory liquidation raise substantial doubt about its ability to continue as a going concern.