Commodore Capital reports 500,000-share (5.5%) stake in RACC

Research Alliance Corp III reports a Schedule 13G filing showing an aggregate 500,000 shares of Class A Ordinary Shares beneficially owned by Commodore Capital entities and two managing partners as of May 20, 2026.

Rhea-AI Filing Summary

Research Alliance Corp III reports a Schedule 13G filing showing an aggregate 500,000 shares of Class A Ordinary Shares beneficially owned by Commodore Capital entities and two managing partners as of May 20, 2026.

Ownership represents 5.5% of the issuer's Common Shares based on 9,098,529 shares outstanding as of May 19, 2026 reported in the issuer's Rule 424(b)(4) Prospectus Supplement. The filing states shared voting and dispositive power for the 500,000 shares among Commodore Capital LP, Commodore Capital Master LP, Robert Egen Atkinson, and Michael Kramarz.

Insights

Institutional Ownership Analyst

Commodore entities report a 5.5% passive stake in RACC totaling 500,000 shares.

The filing lists an aggregate 500,000 shares beneficially owned as of May 20, 2026, with voting and dispositive power described as shared among the filers. The ownership percentage is tied to 9,098,529 shares outstanding as of May 19, 2026 per the issuer's prospectus supplement.

Cash‑flow treatment and disposition plans are not specified in the excerpt; subsequent filings or disclosures would be required to reveal any planned sales or transfers.

Corporate Governance Specialist

Filing is a standard joint Schedule 13G by an investment manager and related parties.

The report identifies Commodore Capital LP as the Firm and Commodore Capital Master LP as the managed vehicle, with Robert Egen Atkinson and Michael Kramarz as managing partners exercising investment discretion. A Joint Filing Agreement is attached as Exhibit 1.

Because the filing reports shared power and passive ownership under Schedule 13G mechanics, this is an informational disclosure rather than an affirmative transaction notice.

Key Figures

Beneficial ownership: 500,000 shares Ownership percentage: 5.5% Shares outstanding: 9,098,529 shares +2 more

5 metrics

Beneficial ownership 500,000 shares aggregate holdings as of May 20, 2026

Ownership percentage 5.5% based on 9,098,529 shares outstanding

Shares outstanding 9,098,529 shares as of May 19, 2026 per Rule 424(b)(4) Prospectus Supplement

Sole voting power 0.00 reported on cover page for filers

Shared voting/dispositive power 500,000.00 reported shared voting and shared dispositive power for each filer

Key Terms

Schedule 13G, beneficially own, Rule 424(b)(4) Prospectus Supplement

3 terms

Schedule 13G regulatory

"reporting beneficial ownership of 500,000 shares"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

beneficially own financial

"may be deemed to beneficially own an aggregate of 500,000 shares"

Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.

Rule 424(b)(4) Prospectus Supplement regulatory

"shares outstanding as of May 19, 2026 as issued in the Issuer's Rule 424(b)(4) Prospectus Supplement"

FAQ

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

What stake does Commodore Capital report in RACC?

Commodore Capital reports beneficial ownership of 500,000 shares of RACC Class A Ordinary Shares as of May 20, 2026, representing 5.5% of the class based on 9,098,529 shares outstanding.

Who are the filers named on the Schedule 13G for RACC?

The filing is by Commodore Capital LP, Commodore Capital Master LP, and managing partners Robert Egen Atkinson and Michael Kramarz, with a Joint Filing Agreement attached as Exhibit 1.

What voting and dispositive powers are reported for the 500,000 shares?

The Schedule 13G shows shared voting power and shared dispositive power of 500,000 shares among the filers; sole voting and sole dispositive power are reported as 0 in the cover data.

What basis is used to calculate the 5.5% ownership percentage?

The 5.5% figure is calculated using 9,098,529 shares outstanding as of May 19, 2026, cited from the issuer's Rule 424(b)(4) Prospectus Supplement filed on May 20, 2026.

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

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Accepted by SEC EDGAR 05/28/2026 - 04:20 PM EDT Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Research Alliance Corp III

(Name of Issuer)

Class A Ordinary Shares, par value $0.0001 per share

(Title of Class of Securities)

G75226103

(CUSIP Number)

05/20/2026

(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)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): G75226103

1

Names of Reporting Persons

Commodore Capital LP

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 500,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 500,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

500,000.00

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)

5.5 %

12

Type of Reporting Person (See Instructions)

IA, PN

SCHEDULE 13G

CUSIP Number(s): G75226103

1

Names of Reporting Persons

Commodore Capital Master LP

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

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 500,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 500,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

500,000.00

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)

5.5 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP Number(s): G75226103

1

Names of Reporting Persons

Robert Egen Atkinson

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

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 500,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 500,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

500,000.00

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)

5.5 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

CUSIP Number(s): G75226103

1

Names of Reporting Persons

Michael Kramarz

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

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 500,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 500,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

500,000.00

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)

5.5 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Research Alliance Corp III
(b)	Address of issuer's principal executive offices: 600 Fifth Avenue, 23rd Floor, New York, NEW YORK, 10020.
Item 2.
(a)	Name of person filing: Commodore Capital LP Commodore Capital Master LP Robert Egen Atkinson Michael Kramarz Each a "Filer."
(b)	Address or principal business office or, if none, residence: The address for Commodore Capital LP, Robert Egen Atkinson, and Michael Kramarz is 444 Madison Avenue, Floor 35, New York, NY 10022. The address for Commodore Capital Master LP is c/o Maples Corporate Services Limited, Ugland House, South Church Street, PO Box 309, Grand Cayman KY1-1104, Cayman Islands.
(c)	Citizenship: See Item 4 of the cover page for each Filer.
(d)	Title of class of securities: Class A Ordinary Shares, par value $0.0001 per share
(e)	CUSIP Number(s): G75226103
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 Item 9 of the cover page for each Filer. This report on Schedule 13G is being filed by Commodore Capital LP (the "Firm"), Commodore Capital Master LP ("Commodore Master"), Michael Kramarz, and Robert Egen Atkinson. The Firm is the investment manager to Commodore Master. As of May 20, 2026, the Firm may be deemed to beneficially own an aggregate of 500,000 shares of Class A Ordinary Shares, par value $0.0001 per share (the "Common Shares") of Research Alliance Corp III (the "Issuer"). The Firm, as the investment manager to Commodore Master, may be deemed to beneficially own these securities. Michael Kramarz and Robert Egen Atkinson are the managing partners of the Firm and exercise investment discretion with respect to these securities. Ownership percentages are based on 9,098,529 shares of the Issuer's Common Shares outstanding as of May 19, 2026 as issued in the Issuer's Rule 424(b)(4) Prospectus Supplement filed with the Securities and Exchange Commission on May 20, 2026.
(b)	Percent of class: See Item 11 of the cover page for each Filer.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See Item 5 of the cover page for each Filer.
	(ii) Shared power to vote or to direct the vote: See Item 6 of the cover page for each Filer.
	(iii) Sole power to dispose or to direct the disposition of: See Item 7 of the cover page for each Filer.
	(iv) Shared power to dispose or to direct the disposition of: See Item 8 of the cover page for each Filer.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
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.
	Not Applicable
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 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.

Commodore Capital LP

Signature:	Michael Kramarz
Name/Title:	Managing Partner
Date:	05/28/2026

Commodore Capital Master LP

Signature:	Michael Kramarz
Name/Title:	Authorized Signatory
Date:	05/28/2026

Robert Egen Atkinson

Signature:	Robert Egen Atkinson
Name/Title:	Authorized Signatory
Date:	05/28/2026

Michael Kramarz

Signature:	Michael Kramarz
Name/Title:	Authorized Signatory
Date:	05/28/2026

Exhibit Information

Exhibit 1: Joint Filing Agreement