Oaktree Acquisition III holder converts 4.8M 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.

Rhea-AI Filing Summary

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.

Insider Trade Summary

4,798,758 shares exercised/converted

Exercise 2 txns

Insider Oaktree Acquisition Holdings III LS, LLC, Oaktree Acquisition Holdings III LS GP, Ltd., OAKTREE CAPITAL MANAGEMENT LP, Oaktree Capital Management GP, LLC, Oaktree Capital Holdings, LLC

Role 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner

Type	Security	Shares	Price	Value
Conversion	Class B Ordinary Shares F1, F2	4,798,758	$0.00	$0.00
Conversion	Class A Ordinary Shares F1, F2	4,798,758	--	--

Holdings After Transaction: Class B Ordinary Shares — 1,000 contracts (Direct); Class A Ordinary Shares — 5,382,739 shares (Direct)

Footnotes (2)

1. F1. Class B ordinary shares are automatically convertible into Class A ordinary shares at the time of the Issuer's initial business combination on a one-for-one basis or earlier at the option of the holder.
2. F2. The reported securities are directly held by Oaktree Acquisition Holdings III LS, LLC ("Holdings"). The managing member of Holdings is Oaktree Acquisition Holdings III LS GP, Ltd. ("Holdings GP"). The director of Holdings GP is Oaktree Capital Management, L.P. ("OCM"). The general partner of OCM is Oaktree Capital Management GP, LLC ("OCM GP"). The sole managing member of OCM GP is Oaktree Capital Holdings, LLC. Each of the Reporting Persons disclaims beneficial ownership of the reported securities except to the extent of their respective pecuniary interest therein and the filing of this Statement shall not be construed as an admission that any such Reporting Person is the beneficial owner of the reported securities covered by this Statement.

Key Figures

Class B ordinary shares converted: 4,798,758 shares Class A ordinary shares received: 4,798,758 shares Class A ordinary shares reported after conversion: 5,382,739 shares +1 more

4 metrics

Class B ordinary shares converted 4,798,758 shares October 23, 2026

Class A ordinary shares received 4,798,758 shares Conversion on October 23, 2026

Class A ordinary shares reported after conversion 5,382,739 shares Oaktree Acquisition Holdings III LS, LLC

Class B ordinary shares reported after conversion 1,000 shares Oaktree Acquisition Holdings III LS, LLC

Key Terms

automatically convertible, one-for-one basis, initial business combination, pecuniary interest

4 terms

automatically convertible technical

"Class B ordinary shares are automatically convertible into Class A ordinary shares"

one-for-one basis technical

"on a one-for-one basis"

initial business combination financial

"at the time of the Issuer's initial business combination"

An initial business combination is the deal in which a special-purpose acquisition company (SPAC) merges with or acquires an operating business to bring that business onto public markets. Think of the SPAC as an empty shell that raises money from investors, then uses that cash to buy a private company—this transaction turns the private company into a public one and often changes its ownership, valuation, and access to capital, so investors should watch for shifts in risk, future growth prospects, and shareholder rights.

pecuniary interest financial

"except to the extent of their respective pecuniary interest therein"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many OACC shares did Oaktree Acquisition Holdings III LS, LLC convert?

On October 23, 2026, Oaktree Acquisition Holdings III LS, LLC converted 4,798,758 Class B ordinary shares into 4,798,758 Class A ordinary shares. Class B shares convert automatically one-for-one at the issuer’s initial business combination or earlier at the holder’s option.

How many OACC shares did Oaktree Acquisition Holdings III LS, LLC hold after the conversion?

After the October 23, 2026 conversion, Oaktree Acquisition Holdings III LS, LLC reported 5,382,739 Class A ordinary shares and 1,000 Class B ordinary shares.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/23/2026 - 04:30 PM EDT Accepted by SEC EDGAR 10/23/2026 - 04:30 PM EDT Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Oaktree Acquisition Holdings III LS, LLC

(Last) (First) (Middle)

333 SOUTH GRAND AVENUE, 28TH FLOOR

(Street)

LOS ANGELES CALIFORNIA 90071

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Oaktree Acquisition Corp. III Life Sciences [ OACC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/23/2026

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

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction 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
Class A Ordinary Shares	10/23/2026		C		4,798,758	A	(1)	5,382,739	D(2)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. 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: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Class B Ordinary Shares	(1)	10/23/2026		C			4,798,758	(1)	(1)	Class A Ordinary Shares	4,798,758	$0	1,000	D(2)

1. Name and Address of Reporting Person^*

Oaktree Acquisition Holdings III LS, LLC

(Last) (First) (Middle)

333 SOUTH GRAND AVENUE, 28TH FLOOR

(Street)

LOS ANGELES CALIFORNIA 90071

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Oaktree Acquisition Holdings III LS GP, Ltd.

(Last) (First) (Middle)

333 SOUTH GRAND AVENUE, 28TH FLOOR

(Street)

LOS ANGELES CALIFORNIA 90071

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

OAKTREE CAPITAL MANAGEMENT LP

(Last) (First) (Middle)

C/O OAKTREE CAPITAL MANAGEMENT, L.P.

333 SOUTH GRAND AVENUE, 28TH FLOOR

(Street)

LOS ANGELES CALIFORNIA 90071

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Oaktree Capital Management GP, LLC

(Last) (First) (Middle)

C/O OAKTREE CAPITAL MANAGEMENT, L.P.

333 SOUTH GRAND AVENUE, 28TH FLOOR

(Street)

LOS ANGELES CALIFORNIA 90071

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Oaktree Capital Holdings, LLC

(Last) (First) (Middle)

C/O OAKTREE CAPITAL MANAGEMENT, L.P.

333 SOUTH GRAND AVENUE, 28TH FLOOR

(Street)

LOS ANGELES CALIFORNIA 90071

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. Class B ordinary shares are automatically convertible into Class A ordinary shares at the time of the Issuer's initial business combination on a one-for-one basis or earlier at the option of the holder.

2. The reported securities are directly held by Oaktree Acquisition Holdings III LS, LLC ("Holdings"). The managing member of Holdings is Oaktree Acquisition Holdings III LS GP, Ltd. ("Holdings GP"). The director of Holdings GP is Oaktree Capital Management, L.P. ("OCM"). The general partner of OCM is Oaktree Capital Management GP, LLC ("OCM GP"). The sole managing member of OCM GP is Oaktree Capital Holdings, LLC. Each of the Reporting Persons disclaims beneficial ownership of the reported securities except to the extent of their respective pecuniary interest therein and the filing of this Statement shall not be construed as an admission that any such Reporting Person is the beneficial owner of the reported securities covered by this Statement.

	Oaktree Acquisition Holdings III LS, LLC, By: Oaktree Acquisition Holdings III LS GP, Ltd., its Managing Member, By: Oaktree Capital Management, L.P., its Director, By: /s/ Henry Orren, Managing Director	10/23/2026
	Oaktree Acquisition Holdings III LS GP, Ltd., By: Oaktree Capital Management, L.P., its Director, By: /s/ Henry Orren, Managing Director	10/23/2026
	Oaktree Capital Management, L.P., By: /s/ Henry Orren, Managing Director	10/23/2026
	Oaktree Capital Management GP, LLC, By: /s/ Henry Orren, Managing Director	10/23/2026
	Oaktree Capital Holdings, LLC, By: /s/ Henry Orren, Managing Director	10/23/2026
	** Signature of Reporting Person	Date
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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* Form 4: SEC 1474 (03-26)