- Business
- Oaktree Acquisition Corp. III Life Sciences Oaktree Acquisition Corp. III Life Sciences is a blank check company sponsored by an affiliate of Oaktree Capital Management, L.P. that focuses on effecting a merger, capital stock exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. The company targets life sciences opportunities, including biopharmaceuticals, medical devices, diagnostics, and specialized healthcare services in North America and Europe. Incorporated in 2024 and headquartered at 333 South Grand Avenue, 28th Floor, Los Angeles, California, it leverages Oaktree's extensive expertise, with approximately $5 billion committed across 51 life sciences investments since 2013 by its dedicated team.
In October 2024, the company completed its initial public offering of 17.5 million units at $10.00 per unit, raising $175 million in gross proceeds, followed by the sale of 550,000 private placement units to its sponsor for $5.5 million. On December 11, 2024, it announced the separate trading of its Class A ordinary shares under the ticker OACC and warrants under OACCW, with remaining units continuing to trade as OACCU on Nasdaq. In October 2025, the company appointed a new Chief Financial Officer following the resignation of Thomas Sweeney on October 29, 2025, amid ongoing efforts to secure a business combination by October 25, 2026, or pursue an extension. As of September 30, 2025, it holds approximately $199.8 million in its trust account, net of redemptions, with no revenue-generating operations.