Research Alliance III (RACC) investor group reports 6.4% Class A stake

Rhea-AI Filing Summary

Research Alliance Corporation III has a significant shareholder group led by TCG Crossover Fund III, L.P., TCG Crossover GP III, LLC, and Chen Yu reporting beneficial ownership of 500,000 Class A ordinary shares. This represents 6.4% of the Class A shares outstanding, based on 7,775,000 shares outstanding as of June 24, 2026.

The Reporting Persons have shared voting and dispositive power over 500,000 shares and no sole voting or dispositive power. The securities are held of record by TCG Crossover Fund III, L.P., with TCG Crossover GP III as general partner and Chen Yu as sole managing member. Each Reporting Person disclaims beneficial ownership beyond their pecuniary interest and expressly disclaims status as a group under the Exchange Act.

Key Figures

Shares beneficially owned: 500,000 Class A ordinary shares Percent of class: 6.4% Shares outstanding: 7,775,000 Class A ordinary shares +2 more

5 metrics

Shares beneficially owned 500,000 Class A ordinary shares Reported as beneficially owned collectively by the Reporting Persons

Percent of class 6.4% Percentage of Class A ordinary shares beneficially owned

Shares outstanding 7,775,000 Class A ordinary shares Shares outstanding as of June 24, 2026, per issuer Form 10-Q

Shared voting power 500,000 shares Number of shares over which Reporting Persons have shared voting power

Shared dispositive power 500,000 shares Number of shares over which Reporting Persons have shared dispositive power

Key Terms

beneficial ownership, shared voting power, dispositive power, pecuniary interest, +1 more

5 terms

beneficial ownership financial

"Each of the Reporting Persons disclaims beneficial ownership as to such securities"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

shared voting power financial

"Shared Voting Power 500,000.00"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

dispositive power financial

"Shared Dispositive Power 500,000.00"

Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.

pecuniary interest financial

"except to the extent of such Reporting Person's pecuniary interest therein"

Schedule 13G regulatory

"This joint statement on is being filed by TCG Crossover Fund III, L.P."

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.

FAQ

What stake in Research Alliance Corporation III (RACC) is reported in this Schedule 13G?

The filing reports beneficial ownership of 500,000 Class A ordinary shares of Research Alliance Corporation III, representing 6.4% of the outstanding Class A shares, based on 7,775,000 shares outstanding as of June 24, 2026.

Who are the reporting persons in the RACC Schedule 13G filing?

The reporting persons are TCG Crossover Fund III, L.P., TCG Crossover GP III, LLC, and Chen Yu. The securities are held of record by TCG Crossover Fund III, L.P., with TCG Crossover GP III as general partner and Chen Yu as sole managing member.

What voting and dispositive powers do the reporting persons have over RACC shares?

The reporting persons have shared voting power over 500,000 shares and shared dispositive power over 500,000 shares, with no sole voting or dispositive power reported for any of them in this Schedule 13G.

How is the 6.4% ownership in RACC calculated in the Schedule 13G?

The 6.4% ownership is calculated based on 500,000 Class A shares reported as beneficially owned, compared to 7,775,000 Class A ordinary shares outstanding as of June 24, 2026, as reported by the issuer in its Form 10-Q.

Do the RACC Schedule 13G filers claim group status or full beneficial ownership?

The reporting persons expressly disclaim status as a group and disclaim beneficial ownership of all securities except to the extent of their pecuniary interest, even though they report shared voting and dispositive power over the 500,000 shares.

Can other persons benefit from the RACC shares held by TCG Crossover entities?

Yes. Under the limited partnership agreement of TCG Crossover Fund III, L.P. and the limited liability company agreement of TCG Crossover GP III, LLC, certain partners or members may be deemed to have rights to dividends or sale proceeds from these securities.

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Available on EDGAR 08/14/2026 - 04:23 PM Accepted by SEC EDGAR 08/14/2026 - 04:16 PM Learn about SEC filing dates

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, $0.0001 par value per share

(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

TCG Crossover GP III, 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 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)

6.4 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: These securities are held of record by TCG Crossover III (as defined in Item 2(a) below). TCG Crossover GP III (as defined in Item 2(a) below) is the general partner of TCG Crossover III and may be deemed to have voting, investment, and dispositive power with respect to these securities. Chen Yu is the sole managing member of TCG Crossover GP III and may be deemed to share voting, investment and dispositive power with respect to these securities. Based on 7,775,000 shares of Class A ordinary shares outstanding as of June 24, 2026, as reported by the Issuer (as defined in Item 1(a) below) in its quarterly report on Form 10-Q filed with the United States Securities and Exchange Commission (the Commission) on July 2, 2026 (the Form 10-Q).

SCHEDULE 13G

CUSIP Number(s): G75226103

1

Names of Reporting Persons

TCG Crossover Fund III, 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 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)

6.4 %

12

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person: These securities are held of record by TCG Crossover III. TCG Crossover GP III is the general partner of TCG Crossover III and may be deemed to have voting, investment, and dispositive power with respect to these securities. Chen Yu is the sole managing member of TCG Crossover GP III and may be deemed to share voting, investment and dispositive power with respect to these securities. Based on 7,775,000 shares of Class A ordinary shares outstanding as of June 24, 2026, as reported by the Issuer in the Form 10-Q.

SCHEDULE 13G

CUSIP Number(s): G75226103

1

Names of Reporting Persons

Chen Yu

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)

6.4 %

12

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person: These securities are held of record by TCG Crossover III. TCG Crossover GP III is the general partner of TCG Crossover III and may be deemed to have voting, investment, and dispositive power with respect to these securities. Chen Yu is the sole managing member of TCG Crossover GP III and may be deemed to share voting, investment and dispositive power with respect to these securities. Based on 7,775,000 shares of Class A ordinary shares outstanding as of June 24, 2026, as reported by the Issuer in the Form 10-Q.

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 joint statement on Schedule 13G is being filed by TCG Crossover Fund III, L.P. (TCG Crossover III), TCG Crossover GP III, LLC (TCG Crossover GP III, and together with TCG Crossover III, the Reporting Entities) and Chen Yu (the Reporting Individual). The Reporting Entities and the Reporting Individual are collectively referred to as the Reporting Persons. The Reporting Persons expressly disclaim status as a group for purposes of this Schedule 13G. The agreement among the Reporting Persons to file jointly in accordance with the provisions of Rule 13d-1(k)(1) under the Act is attached to this Statement as Exhibit 1. Other than those securities reported herein as being held directly by such Reporting Person, each Reporting Person disclaims beneficial ownership of all securities reported in this Statement except to the extent of such Reporting Person's pecuniary interest therein.
(b)	Address or principal business office or, if none, residence: The address of the principal business office of each Reporting Person is 245 Lytton Ave., Suite 350, Palo Alto, CA 94301.
(c)	Citizenship: TCG Crossover GP III is a limited liability company organized under the laws of the State of Delaware. TCG Crossover III is a limited partnership organized under the laws of the State of Delaware. The Reporting Individual is a citizen of the United States of America.
(d)	Title of class of securities: Class A Ordinary Shares, $0.0001 par value 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 Row 9 of the cover page for each Reporting Person and the corresponding comments. Each of the Reporting Persons disclaims beneficial ownership as to such securities, except to the extent of his or its pecuniary interest therein.
(b)	Percent of class: See Row 11 of the cover page for each Reporting Person and the corresponding comments. Each of the Reporting Persons disclaims beneficial ownership as to such securities, except to the extent of his or its pecuniary interest therein.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See Row 5 of the cover page for each Reporting Person and the corresponding comments. Each of the Reporting Persons disclaims beneficial ownership as to such securities, except to the extent of his or its pecuniary interest therein.
	(ii) Shared power to vote or to direct the vote: See Row 6 of the cover page for each Reporting Person and the corresponding comments. Each of the Reporting Persons disclaims beneficial ownership as to such securities, except to the extent of his or its pecuniary interest therein.
	(iii) Sole power to dispose or to direct the disposition of: See Row 7 of the cover page for each Reporting Person and the corresponding comments. Each of the Reporting Persons disclaims beneficial ownership as to such securities, except to the extent of his or its pecuniary interest therein.
	(iv) Shared power to dispose or to direct the disposition of: See Row 8 of the cover page for each Reporting Person and the corresponding comments. Each of the Reporting Persons disclaims beneficial ownership as to such securities, except to the extent of his or its pecuniary interest therein.
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. Under certain circumstances set forth in the limited partnership agreement of TCG Crossover III and the limited liability company agreement of TCG Crossover GP III, the general and limited partners or members, as the case may be, of each of such entities may be deemed to have the right to receive dividends from, or the proceeds from, the sale of securities of the Issuer owned by each such entity of which they are a partner or member, as the case may be.
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.

TCG Crossover GP III, LLC

Signature:	/s/ Craig Skaling
Name/Title:	Craig Skaling, Authorized Signatory
Date:	08/14/2026

TCG Crossover Fund III, L.P.

Signature:	/s/ Craig Skaling
Name/Title:	Craig Skaling, Authorized Signatory
Date:	08/14/2026

Chen Yu

Signature:	/s/ Craig Skaling
Name/Title:	Craig Skaling, as Attorney-in-Fact for Chen Yu
Date:	08/14/2026

Exhibit Information

Exhibit 1 - Joint Filing Agreement