[SCHEDULE 13G/A] Oaktree Acquisition Corp. III Life Sciences Warrant SEC Filing

Rhea-AI Filing Summary

The Goldman Sachs Group, Inc. and Goldman Sachs & Co. LLC report shared beneficial ownership of 803,487 Class A ordinary shares of Oaktree Acquisition Corp. III Life Sciences, representing 4.1% of the class. Both reporting persons indicate zero sole voting and dispositive power and shared voting and dispositive power of 803,487, showing the stake is held jointly rather than under exclusive control by either entity.

The filing states the securities are held in the ordinary course of business and were not acquired to change or influence control. A joint filing agreement is attached and an exhibit clarifies that The Goldman Sachs Group, Inc. is a parent holding company and Goldman Sachs & Co. LLC is a subsidiary broker-dealer and registered investment adviser. The filing is classified as ownership of 5% or less of the class.

Positive

• Disclosure of precise ownership: 803,487 shares disclosed, providing clear transparency
• Joint filing and organizational clarity: Exhibit confirms GS Group is parent and Goldman Sachs & Co. LLC is the subsidiary broker-dealer/adviser

Negative

• None.

Insights

Financial Analyst

TL;DR: Goldman Sachs entities disclose a passive 4.1% (803,487-share) holding in Oaktree Acquisition Corp. III Life Sciences with shared control.

The disclosure is a routine Schedule 13G-type reporting of a sub-5% passive stake. Key facts are the exact share count (803,487), the 4.1% ownership and the statement that holdings are in the ordinary course of business and not intended to influence control. For investors this is a clear transparency event but not a control or activist signal.

Corporate Governance Expert

TL;DR: Joint filing and Exhibit (99.2) confirm parent-subsidiary relationship and that the stake is reported by related Goldman Sachs entities.

The exhibit identifies The Goldman Sachs Group, Inc. as a parent holding company and Goldman Sachs & Co. LLC as a subsidiary broker-dealer and investment adviser, explaining why both parties appear on the Schedule. The filing explicitly states there is no group formation or intent to influence issuer control and Item 5 notes ownership is 5% or less, so governance implications are limited based on disclosed facts.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

OAKTREE ACQUISITION CORP. III LIFE SCIENCES

(Name of Issuer)

Class A ordinary shares, par value $0.0001 per share

(Title of Class of Securities)

G6717R104

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. G6717R104

1

Names of Reporting Persons

THE GOLDMAN SACHS GROUP, INC.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 803,487.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 803,487.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

803,487.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.1 %

12

Type of Reporting Person (See Instructions)

HC, CO

SCHEDULE 13G

CUSIP No. G6717R104

1

Names of Reporting Persons

GOLDMAN SACHS & CO. LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

NEW YORK

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 803,487.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 803,487.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

803,487.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.1 %

12

Type of Reporting Person (See Instructions)

BD, OO, IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: OAKTREE ACQUISITION CORP. III LIFE SCIENCES
(b)	Address of issuer's principal executive offices: 333 SOUTH GRAND AVENUE, 28TH FLOOR, LOS ANGELES, CA, X1, 90071
Item 2.
(a)	Name of person filing: THE GOLDMAN SACHS GROUP, INC.| GOLDMAN SACHS & CO. LLC
(b)	Address or principal business office or, if none, residence: The Goldman Sachs Group, Inc. 200 West Street New York, NY 10282| Goldman Sachs & Co. LLC 200 West Street New York, NY 10282
(c)	Citizenship: THE GOLDMAN SACHS GROUP, INC. - Delaware| GOLDMAN SACHS & CO. LLC - New York
(d)	Title of class of securities: Class A ordinary shares, par value $0.0001 per share
(e)	CUSIP No.: G6717R104
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: See the response(s) to Item 9 on the attached cover page(s).
(b)	Percent of class: See the response(s)to Item 11 on the attached cover page(s).
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See the response(s) to Item 5 on the attached cover page(s).
	(ii) Shared power to vote or to direct the vote: See the response(s) to Item 6 on the attached cover page(s).
	(iii) Sole power to dispose or to direct the disposition of: See the response(s) to Item 7 on the attached cover page(s).
	(iv) Shared power to dispose or to direct the disposition of: See the response(s) to Item 8 on the attached cover page(s).
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Exhibit (99.2)
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

THE GOLDMAN SACHS GROUP, INC.

Signature:	Name: AMEEN SOETAN
Name/Title:	Attorney-in-fact
Date:	08/01/2025

GOLDMAN SACHS & CO. LLC

Signature:	Name: AMEEN SOETAN
Name/Title:	Attorney-in-fact
Date:	08/01/2025

Exhibit Information

EXHIBIT (99.1) JOINT FILING AGREEMENT In accordance with Rule 13d-1(k)(1) promulgated under the Securities Exchange Act of 1934, the undersigned agree to the joint filing of a Statement on Schedule 13G (including any and all amendments thereto) with respect to the Class A ordinary shares, par value $0.0001 per share, of OAKTREE ACQUISITION CORP. III LIFE SCIENCES and further agree to the filing of this agreement as an Exhibit thereto. In addition, each party to this Agreement expressly authorizes each other party to this Agreement to file on its behalf any and all amendments to such Statement on Schedule 13G. Date: 08/01/2025 THE GOLDMAN SACHS GROUP, INC. By:/s/ AMEEN SOETAN ---------------------------------------- Name: AMEEN SOETAN Title: Attorney-in-fact GOLDMAN SACHS & CO. LLC By:/s/ AMEEN SOETAN ---------------------------------------- Name: AMEEN SOETAN Title: Attorney-in-fact EXHIBIT (99.2) ITEM 7 INFORMATION The securities being reported on by The Goldman Sachs Group, Inc. ("GS Group"), as a parent holding company, are owned, or may be deemed to be beneficially owned, by Goldman Sachs & Co. LLC ("Goldman Sachs"), a broker or dealer registered under Section 15 of the Act and an investment adviser registered under Section 203 of the Investment Advisers Act of 1940. Goldman Sachs is a subsidiary of GS Group.

FAQ

How many OACCW shares do Goldman Sachs entities report owning?

They report beneficial ownership of 803,487 Class A ordinary shares.

What percentage of Oaktree Acquisition Corp. III Life Sciences does the holding represent?

The holdings represent 4.1% of the Class A ordinary shares.

Do Goldman Sachs entities claim sole voting or dispositive power over these shares?

No. The filing shows 0 sole voting power and 0 sole dispositive power and reports shared voting and dispositive power of 803,487 shares.

Is the disclosed stake reported as an attempt to influence control of the issuer (OACCW)?

No. The filing includes a certification that the securities are held in the ordinary course of business and were not acquired to change or influence control.

Why do both The Goldman Sachs Group, Inc. and Goldman Sachs & Co. LLC appear on the filing?

A joint filing agreement is attached and Exhibit (99.2) states that The Goldman Sachs Group, Inc. is a parent holding company and Goldman Sachs & Co. LLC is a subsidiary broker-dealer and registered investment adviser, explaining the dual reporting.