[SCHEDULE 13G] Research Alliance Corp III Passive Investment Disclosure (>5%)
Balyasny reports 6.43% stake in Research Alliance
Balyasny Asset Management L.P. and related entities report a significant passive ownership position in Research Alliance Corporation III’s Class A common stock.
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Balyasny Asset Management L.P. and related entities report a significant passive ownership position in Research Alliance Corporation III’s Class A common stock. Through Atlas Diversified Master Fund, Ltd., they are deemed to beneficially own 500,000 shares.
This position represents 6.43% of the Class A shares, based on 7,775,000 shares outstanding as of June 24, 2026. Each reporting person has sole voting and sole dispositive power over the 500,000 shares, with no shared voting or dispositive power. ADMF has the right to receive dividends and sale proceeds from these securities.
Key Figures
Beneficial ownership:6.43%Shares beneficially owned:500,000 SharesShares outstanding:7,775,000 Shares+2 more
5 metrics
Beneficial ownership6.43%Percentage of Class A common stock beneficially owned by the reporting persons
Shares beneficially owned500,000 SharesClass A common stock of Research Alliance Corporation III held through ADMF
Shares outstanding7,775,000 SharesClass A common stock outstanding as of June 24, 2026
Sole voting power500,000 SharesShares over which each reporting person has sole power to vote or direct the vote
Sole dispositive power500,000 SharesShares over which each reporting person has sole power to dispose or direct disposition
Key Terms
beneficial owner, sole power to vote or to direct the vote, sole power to dispose or to direct the disposition, Investment Company Act of 1940, +1 more
5 terms
beneficial ownerregulatory
"Each of the Reporting Persons may be deemed to be the beneficial owner of approximately 6.43%"
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.
sole power to vote or to direct the voteregulatory
"Each of the Reporting Persons has the sole power to vote or to direct the vote of 500000 shares."
sole power to dispose or to direct the dispositionregulatory
"Each of the Reporting Persons has the sole power to dispose or to direct the disposition of 500000 shares."
Investment Company Act of 1940regulatory
"A listing of the shareholders of an investment company registered under the Investment Company Act of 1940"
A U.S. federal law that sets the rulebook for pooled investment vehicles such as mutual funds, exchange-traded funds and similar money managers, requiring them to register with regulators, disclose holdings and fees, limit conflicts of interest, and follow governance standards. It matters to investors because these protections and transparency rules act like a referee and scoreboard, helping people compare funds, trust that managers follow fair practices, and spot hidden costs or risks.
CUSIP Numberfinancial
"Title of class of securities: Class A Common Stock (e) | CUSIP Number(s): G75226103"
A CUSIP number is a nine-character code that uniquely identifies a specific U.S. or Canadian stock, bond, or other security, similar to a barcode or a social-security number for a financial instrument. It matters to investors because it removes confusion between similar securities, ensures trades and settlements are applied to the correct issue, and helps locate official documents and transaction records quickly.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What percentage of Research Alliance Corporation III (RACC) does Balyasny beneficially own?
Balyasny and related reporting persons beneficially own 6.43% of Research Alliance Corporation III’s Class A common stock, based on 7,775,000 shares outstanding as of June 24, 2026, with their holdings consisting of 500,000 shares.
How many RACC shares are reported as owned by Balyasny Asset Management?
The reporting group is deemed to beneficially own 500,000 shares of Research Alliance Corporation III Class A common stock. These shares are held directly by Atlas Diversified Master Fund, Ltd., for which Balyasny Asset Management L.P. acts as investment manager.
What voting and dispositive power does Balyasny have over RACC shares?
Each reporting person has sole power to vote and dispose of 500,000 shares of RACC Class A common stock. They report 0 shares of shared voting power and 0 shares of shared dispositive power over this position.
On what share count is Balyasny’s 6.43% RACC ownership based?
The 6.43% beneficial ownership is based on 7,775,000 shares of RACC Class A common stock outstanding as of June 24, 2026, as reported in the issuer’s Form 10-Q filed on July 2, 2026.
Who ultimately receives dividends and sale proceeds from the RACC shares managed by Balyasny?
Atlas Diversified Master Fund, Ltd. (ADMF), a Cayman Islands exempted company and investment management client of Balyasny Asset Management L.P., has the right to receive dividends and sale proceeds from the reported RACC securities.
Which entities are included as reporting persons for the RACC stake alongside Balyasny?
The reporting persons are Balyasny Asset Management L.P., BAM GP LLC, Balyasny Asset Management Holdings LP, Dames GP LLC, and Dmitry Balyasny, each deemed to share beneficial ownership of the same 500,000 shares.
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 Common Stock
(Title of Class of Securities)
G75226103
(CUSIP Number)
06/30/2026
(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
BALYASNY ASSET MANAGEMENT L.P.
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
500,000.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
500,000.00
8
Shared Dispositive Power
0.00
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)
6.43 %
12
Type of Reporting Person (See Instructions)
IA, PN
SCHEDULE 13G
CUSIP Number(s):
G75226103
1
Names of Reporting Persons
BAM GP 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
500,000.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
500,000.00
8
Shared Dispositive Power
0.00
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)
6.43 %
12
Type of Reporting Person (See Instructions)
HC, OO
SCHEDULE 13G
CUSIP Number(s):
G75226103
1
Names of Reporting Persons
Balyasny Asset Management Holdings 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
500,000.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
500,000.00
8
Shared Dispositive Power
0.00
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)
6.43 %
12
Type of Reporting Person (See Instructions)
HC, PN
SCHEDULE 13G
CUSIP Number(s):
G75226103
1
Names of Reporting Persons
Dames GP 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
500,000.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
500,000.00
8
Shared Dispositive Power
0.00
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)
6.43 %
12
Type of Reporting Person (See Instructions)
HC, OO
SCHEDULE 13G
CUSIP Number(s):
G75226103
1
Names of Reporting Persons
Dmitry Balyasny
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
500,000.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
500,000.00
8
Shared Dispositive Power
0.00
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)
6.43 %
12
Type of Reporting Person (See Instructions)
HC, IN
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:
This statement is being filed by (1) Balyasny Asset Management L.P., a Delaware limited partnership ("BAM"), (2) BAM GP LLC, a Delaware limited liability company ("BAM GP"), (3) Balyasny Asset Management Holdings LP, a Delaware limited partnership ("BAM Holdings"), (4) Dames GP LLC, a Delaware limited liability company ("Dames"), and (5) Dmitry Balyasny, a United States citizen (collectively, the "Reporting Persons"). BAM GP is the General Partner of BAM. BAM Holdings is the Sole Member of BAM GP. Dames is the General Partner of BAM Holdings. Dmitry Balyasny is the Managing Member of Dames.
(b)
Address or principal business office or, if none, residence:
The principal business address of each of BAM, BAM GP, BAM Holdings, Dames, and Mr. Balyasny is located at 444 West Lake Street, 50th Floor, Chicago, IL 60606.
(c)
Citizenship:
(1) BAM is a Delaware limited partnership, (2) BAM GP is a Delaware limited liability company, (3) BAM Holdings is a Delaware limited partnership, (4) Dames is a Delaware limited liability company, and (5) Mr. Balyasny is a United States citizen.
(d)
Title of class of securities:
Class A Common Stock
(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:
By virtue of its position as the investment manager of Atlas Diversified Master Fund, Ltd. ("ADMF"), the direct holder of 500,000 shares of common stock, par value $0.0001 per share ("Shares"), reported herein, BAM may be deemed to exercise voting and investment power over such Shares held by ADMF and thus may be deemed to beneficially own such Shares. By virtue of its position as the General Partner of BAM, BAM GP may be deemed to exercise voting and investment power over the Shares held directly by ADMF and thus may be deemed to beneficially own such Shares. By virtue of its position as the Sole Member of BAM GP, BAM Holdings may be deemed to exercise voting and investment power over the Shares held directly by ADMF and thus may be deemed to beneficially own such Shares. By virtue of its position as the General Partner of BAM Holdings, Dames may be deemed to exercise voting and investment power over the Shares held directly by ADMF and thus may be deemed to beneficially own such Shares. By virtue of his position as the Managing Member of Dames, Mr. Balyasny may be deemed to exercise voting and investment power over the Shares held directly by ADMF and thus may be deemed to beneficially own such Shares.
(b)
Percent of class:
Each of the Reporting Persons may be deemed to be the beneficial owner of approximately 6.43% of the Shares, based on 7,775,000 Shares outstanding as of June 24, 2026, as reported in the Issuer's Report on Form 10-Q filed with the Securities and Exchange Commission on July 2, 2026. The report amount consists of 500,000 Shares.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
Each of the Reporting Persons has the sole power to vote or to direct the vote of 500000 shares.
(ii) Shared power to vote or to direct the vote:
0
(iii) Sole power to dispose or to direct the disposition of:
Each of the Reporting Persons has the sole power to dispose or to direct the disposition of 500000 shares.
(iv) Shared power to dispose or to direct the disposition of:
0
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.
ADMF, a Cayman Islands exempted company that is an investment management client of BAM, has the right to receive dividends from, or the proceeds from the sale of, the reported securities.
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 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.
