Oaktree Acquisition Corp. III Life Sciences(OACCU) - 2025 Q2 - Quarterly Report

Financial Position - As of June 30, 2025, the company had cash of $197,576,768 held in the trust account, intended for completing a business combination [125]. - As of June 30, 2025, the company had cash of $1,385,359 outside the trust account, primarily for identifying and evaluating target businesses [126]. - Following the initial public offering and the sale of private placement units, a total of $191,990,290 was placed in the trust account after incurring transaction costs of $11,587,475 [123]. - The company has no off-balance sheet financing arrangements or long-term liabilities as of June 30, 2025 [129]. Income and Revenue - For the three months ended June 30, 2025, the company reported a net income of $1,874,343, consisting of interest earned on cash held in the trust account of $2,144,153, offset by operating costs of $269,810 [120]. - For the six months ended June 30, 2025, the company had a net income of $3,533,134, with interest earned on cash held in the trust account amounting to $4,247,746 [120]. - The company has no operating history and has not generated any revenues to date, with activities focused on organizational tasks and identifying a target company for a business combination [119]. - The company incurred significant costs in pursuit of acquisition plans and does not expect to generate operating revenues until after completing a business combination [117]. Initial Public Offering - The company completed its initial public offering on October 25, 2024, generating proceeds of $175,000,000 from the sale of 17,500,000 units at $10.00 per unit [121]. Administrative and Operational Costs - The company has agreed to pay the sponsor $25,000 per month for administrative services until the completion of the business combination [130]. Accounting and Reporting Standards - Management believes that recently issued accounting standards will not materially affect the financial statements [139]. - The FASB issued ASU 2023-07 requiring enhanced disclosures on segment expenses and performance measures, effective for fiscal years beginning after December 15, 2023 [140]. - Public entities must disclose the title and position of the chief operating officer decision maker (CODM) and how they use reported segment profit or loss in resource allocation [141]. - The Company is classified as a smaller reporting company and is not required to provide extensive market risk disclosures [142]. Equity and Shareholder Information - The Company accounts for public and private placement warrants under equity treatment, with fair value changes not recognized as long as they remain classified in equity [136]. - Public shares have a redemption feature linked to liquidation and certain amendments, classified outside of permanent equity due to non-controllable redemption provisions [137]. - Net income per ordinary share is calculated by dividing net income by the weighted average number of ordinary shares, with Class A and Class B shares sharing income and losses pro rata [138].