Research Alliance Corporation III reports that Perceptive Advisors, Joseph Edelman and Perceptive Life Sciences Master Fund, Ltd. each beneficially own 750,000 Class A Ordinary Shares. The filing states this equals 8.2% of the class based on 9,098,529 Ordinary Shares outstanding as reported in the Issuer's prospectus dated 05/20/2026.
The filing shows shared voting and shared dispositive power over the 750,000 shares for each Reporting Person and attributes beneficial ownership to Perceptive Advisors and Mr. Edelman by virtue of managerial and investment‑management relationships.
Positive
None.
Negative
None.
Insights
Perceptive-affiliated entities report an 8.2% stake (750,000 shares) in RACC.
Perceptive Life Sciences Master Fund directly holds 750,000 shares and the filing attributes beneficial ownership to Perceptive Advisors and Joseph Edelman through investment‑management and managerial relationships. Voting and dispositive powers are reported as shared.
Cash‑flow treatment and disposition intent are not stated in the excerpt; subsequent filings would show transactions if holders trade these shares.
Key Figures
Shares outstanding:9,098,529 sharesPosition held (per Reporting Person):750,000 sharesPercent of class:8.2%
3 metrics
Shares outstanding9,098,529 sharesas reported in Issuer prospectus dated 05/20/2026
Position held (per Reporting Person)750,000 sharesDirectly held by Perceptive Life Sciences Master Fund, Ltd.; attributed to others by relationship
Percent of class8.2%Calculated using 9,098,529 shares outstanding (05/20/2026)
Key Terms
Schedule 13G, Beneficially own, Shared dispositive power
3 terms
Schedule 13Gregulatory
"The names of the persons filing this report (collectively, the "Reporting Persons") with respect to the Class A Ordinary 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 ownfinancial
"The Master Fund directly holds 750,000 Ordinary Shares. Perceptive Advisors serves as the investment manager to the Master Fund and may be deemed to beneficially own"
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.
Shared dispositive powerfinancial
"Shared Dispositive Power 750,000.00"
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Research Alliance Corporation 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
Perceptive Advisors 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
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
750,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
750,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
750,000.00
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)
8.2 %
12
Type of Reporting Person (See Instructions)
IA
SCHEDULE 13G
CUSIP Number(s):
G75226103
1
Names of Reporting Persons
Joseph Edelman
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
750,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
750,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
750,000.00
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)
8.2 %
12
Type of Reporting Person (See Instructions)
IN
SCHEDULE 13G
CUSIP Number(s):
G75226103
1
Names of Reporting Persons
Perceptive Life Sciences Master Fund, Ltd.
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
750,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
750,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
750,000.00
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)
8.2 %
12
Type of Reporting Person (See Instructions)
CO
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Research Alliance Corporation III
(b)
Address of issuer's principal executive offices:
600 FIFTH AVENUE, 23RD FLOOR, NEW YORK, NY, 10020
Item 2.
(a)
Name of person filing:
The names of the persons filing this report (collectively, the "Reporting Persons") with respect to the Class A Ordinary Shares, par value $0.0001 per share (the "Ordinary Shares") of Research Alliance Corporation III (the "Issuer") are:
(i) Perceptive Advisors LLC ("Perceptive Advisors")
(ii) Joseph Edelman ("Mr. Edelman")
(iii) Perceptive Life Sciences Master Fund, Ltd. (the "Master Fund")
(b)
Address or principal business office or, if none, residence:
The address of the principal business office of each of the Reporting Persons is:
51 Astor Place, 10th Floor, New York, NY 10003
(c)
Citizenship:
Perceptive Advisors is a Delaware limited liability company.
Mr. Edelman is a United States citizen.
The Master Fund is a Cayman Islands corporation.
(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:
The information required by this item with respect to each Reporting Person is set forth in Rows 5 through 9 and 11 of the cover pages to this Schedule 13G. The ownership percentages are based on 9,098,529 Ordinary Shares outstanding, as reported by the Issuer in its prospectus filed pursuant to Rule 424(b)(4) with the Securities and Exchange Commission on May 20, 2026.
The Master Fund directly holds 750,000 Ordinary Shares. Perceptive Advisors serves as the investment manager to the Master Fund and may be deemed to beneficially own shares held by the Master Fund. Mr. Edelman is the managing member of Perceptive Advisors and may be deemed to beneficially own the shares held by the Master Fund.
(b)
Percent of class:
Perceptive Advisors: 8.2%
Mr. Edelman: 8.2%
Master Fund: 8.2%
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
Perceptive Advisors: 0
Mr. Edelman: 0
Master Fund: 0
(ii) Shared power to vote or to direct the vote:
Perceptive Advisors: 750,000
Mr. Edelman: 750,000
Master Fund: 750,000
(iii) Sole power to dispose or to direct the disposition of:
Perceptive Advisors: 0
Mr. Edelman: 0
Master Fund: 0
(iv) Shared power to dispose or to direct the disposition of:
Perceptive Advisors: 750,000
Mr. Edelman: 750,000
Master Fund: 750,000
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.
What stake does Perceptive Advisors report in Research Alliance Corporation III (RACC)?
Perceptive Advisors is reported to beneficially own 750,000 shares, equal to 8.2% of the class, based on 9,098,529 shares outstanding as of 05/20/2026. The position is shown as shared voting and dispositive power.
Does Joseph Edelman personally own the shares reported in the Schedule 13G for RACC?
The filing states Joseph Edelman may be deemed to beneficially own 750,000 shares through his role as managing member of Perceptive Advisors; ownership is attributed via managerial and investment‑management relationships rather than direct sole ownership.
How many Class A Ordinary Shares were outstanding when the ownership percentage was calculated?
The ownership percentage is calculated using 9,098,529 Ordinary Shares outstanding, as reported in the Issuer's prospectus filed pursuant to Rule 424(b)(4) with a prospectus date of 05/20/2026.
What voting and dispositive powers are reported for the 750,000 shares?
Each Reporting Person reports 0 sole voting power and 750,000 shared voting power, and 0 sole dispositive power with 750,000 shared dispositive power over the shares, per the cover page rows cited in the filing.
Who filed the Schedule 13G for RACC and where is their business address?
The report is filed by Perceptive Advisors LLC, Joseph Edelman, and Perceptive Life Sciences Master Fund, Ltd. The principal business office listed is 51 Astor Place, 10th Floor, New York, NY 10003.
