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Nantahala Capital Management, LLC and its managing members, Wilmot B. Harkey and Daniel Mack, each may be deemed beneficial owners of 1,100,000 Research Alliance Corp III Class A ordinary shares as of September 30, 2026, equal to 14.1% of the class for each reporting person. The shares are held by funds and separately managed accounts under Nantahala’s control. Each reports shared voting and dispositive power over 1,100,000 shares and zero sole voting or dispositive power.
Blackwell Partners LLC - Series A, a fund advised by Nantahala, is identified as having the right to receive or direct dividends or sale proceeds from more than five percent of the outstanding shares beneficially owned by Nantahala. Taki Vasilakis is listed as Chief Compliance Officer and signed as attorney-in-fact for Harkey and Mack.
Key Figures
Beneficial ownership:1,100,000 sharesOwnership percentage:14.1%Shares outstanding:7,775,000 shares+2 more
5 metrics
Beneficial ownership1,100,000 sharesEach reporting person may be deemed to own the same reported holding as of September 30, 2026
Ownership percentage14.1%Reported for each person as of September 30, 2026
Shares outstanding7,775,000 sharesIssuer-reported figure cited as the basis for the ownership percentages
Shared voting power1,100,000 sharesReported for each reporting person
Shared dispositive power1,100,000 sharesReported for each reporting person
Key Terms
beneficial owner, shared power to vote, shared power to dispose
3 terms
beneficial ownerfinancial
"may be deemed to be the beneficial owner"
A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.
shared power to votefinancial
"Shared power to vote or to direct the vote"
shared power to disposefinancial
"Shared power to dispose or to direct the disposition"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How many RACC shares did Nantahala and its managers report beneficially owning?
Nantahala Capital Management, LLC, Wilmot B. Harkey and Daniel Mack each may be deemed beneficial owners of 1,100,000 shares as of September 30, 2026, equal to 14.1% of the class for each. The shares are held by funds and separately managed accounts under Nantahala’s control.
What share count supports the RACC ownership percentages?
The 14.1% figures are based on 7,775,000 shares outstanding, a figure the reporting persons said they received from the issuer’s Form 10-Q filed August 12, 2026.
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)
09/30/2026
(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
Nantahala Capital Management, 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
MASSACHUSETTS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
1,100,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,100,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,100,000.00
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)
14.1 %
12
Type of Reporting Person (See Instructions)
IA, HC
SCHEDULE 13G
CUSIP Number(s):
G75226103
1
Names of Reporting Persons
Wilmot B. Harkey
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
1,100,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,100,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,100,000.00
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)
14.1 %
12
Type of Reporting Person (See Instructions)
IN
SCHEDULE 13G
CUSIP Number(s):
G75226103
1
Names of Reporting Persons
Daniel Mack
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
1,100,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,100,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,100,000.00
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)
14.1 %
12
Type of Reporting Person (See Instructions)
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, NY 10020
Item 2.
(a)
Name of person filing:
(1) Nantahala Capital Management, LLC ("Nantahala")
(2) Wilmot B. Harkey
(3) Daniel Mack (together the "Reporting Persons")
(b)
Address or principal business office or, if none, residence:
130 Main St. 2nd Floor, New Canaan, CT 06840
(c)
Citizenship:
(1) Nantahala is a Massachusetts limited liability company. (2) Each of Messrs. Harkey and Mack is a citizen of the United States of America.
(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:
As of September 30, 2026, Nantahala may be deemed to be the beneficial owner of 1,100,000 Shares held by funds and separately managed accounts under its control, and as the managing members of Nantahala, each of Messrs. Harkey and Mack may be deemed to be a beneficial owner of those Shares
(b)
Percent of class:
As of September 30, 2026, each of the Reporting Persons may be deemed to be the beneficial owner of the following percentage of the total number of Shares outstanding based on 7,775,000 shares outstanding received from the issuer on Form 10-Q filed on August 12, 2026:
(1) Nantahala Capital Management, LLC ("Nantahala") : 14.1%
(2) Wilmot B. Harkey: 14.1%
(3) Daniel Mack: 14.1%
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
(1) Nantahala Capital Management, LLC ("Nantahala") : 0 Shares.
(2) Wilmot B. Harkey: 0 Shares.
(3) Daniel Mack: 0 Shares.
(ii) Shared power to vote or to direct the vote:
(1) Nantahala Capital Management, LLC ("Nantahala") : 1,100,000 Shares.
(2) Wilmot B. Harkey: 1,100,000 Shares.
(3) Daniel Mack: 1,100,000 Shares.
(iii) Sole power to dispose or to direct the disposition of:
(1) Nantahala Capital Management, LLC ("Nantahala") : 0 Shares.
(2) Wilmot B. Harkey: 0 Shares.
(3) Daniel Mack: 0 Shares.
(iv) Shared power to dispose or to direct the disposition of:
(1) Nantahala Capital Management, LLC ("Nantahala") : 1,100,000 Shares.
(2) Wilmot B. Harkey: 1,100,000 Shares.
(3) Daniel Mack: 1,100,000 Shares.
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.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
BLACKWELL PARTNERS LLC - SERIES A, a fund advised by Nantahala, has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of more than five percent of the outstanding shares of common stock beneficially owned by Nantahala reported herein.
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.
Each of Messrs. Harkey and Mack is filing this Schedule 13G as a control person in respect of shares beneficially owned by Nantahala, an investment adviser as described in ss. 240.13d-1(b)(1)(ii)(E). See Item 4(a).
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.
Nantahala Capital Management, LLC
Signature:
/s/ Taki Vasilakis
Name/Title:
Taki Vasilakis / Chief Compliance Officer
Date:
10/07/2026
Wilmot B. Harkey
Signature:
/s/ Taki Vasilakis, attorney-in-fact
Name/Title:
Wilmot B. Harkey / Manager Nantahala Capital Management, LLC
Date:
10/07/2026
Daniel Mack
Signature:
/s/ Taki Vasilakis, attorney-in-fact
Name/Title:
Daniel Mack / Manager Nantahala Capital Management, LLC
