Oaktree Acquisition Corp. III Life Sciences filed its Form 10-Q for the quarter ended September 30, 2026 with the U.S. Securities and Exchange Commission on November 13, 2026, reporting a net loss of $452,553 for the three-month period.

Key Highlights

  • Net loss for Q3 2026: The company reported a net loss of $452,553 for the three months ended September 30, 2026, compared to net income of $1,966,742 in the same period of 2025.
  • Trust Account balance: Cash held in the Trust Account stood at $206,959,410 as of September 30, 2026, up from $201,563,532 at December 31, 2025.
  • Redemption value per share: Class A ordinary shares subject to possible redemption were carried at $10.78 per share as of September 30, 2026, compared to $10.50 per share at December 31, 2025.
  • General and administrative expenses surged: G&A expenses for Q3 2026 were $2,381,193, compared to $225,579 in Q3 2025, according to the filing.
  • Shares outstanding: As of November 13, 2026, there were 13,250,666 Class A ordinary shares and 1,000 Class B ordinary shares issued and outstanding.
  • Shareholders' deficit widened: Total shareholders' deficit reached $(9,619,846) as of September 30, 2026, compared to $(6,770,157) at December 31, 2025.
  • Nine-month net income: For the nine months ended September 30, 2026, the company reported net income of $2,546,189, driven by $5,645,878 in interest earned on cash held in the Trust Account.

Q3 2026 Results: Rising Expenses Offset Trust Account Income for Oaktree Life Sciences SPAC

According to the filing, Oaktree Acquisition Corp. III Life Sciences (NASDAQ:OACC) recorded a net loss of $452,553 for the three months ended September 30, 2026, a reversal from net income of $1,966,742 in the prior-year quarter. The company attributed the swing primarily to a significant rise in general and administrative expenses, which reached $2,381,193 in Q3 2026 versus $225,579 in Q3 2025. Interest earned on cash held in the Trust Account totaled $1,928,640 for the quarter, partially offsetting the operational loss.

The balance sheet, as reported in the filing, showed total assets of $208,206,263 as of September 30, 2026. The largest component was the Trust Account, holding $206,959,410. On the liabilities side, accounts payable and accrued expenses rose sharply to $2,825,270 from $501,968 at year-end 2025. The deferred underwriting fee payable remained unchanged at $6,719,660. The company is classified as a shell company, a smaller reporting company, and an emerging growth company, according to the filing.

For the nine months ended September 30, 2026, the company reported net income of $2,546,189, supported by $5,645,878 in Trust Account interest income. Total G&A expenses for the nine-month period were $3,099,689, compared to $940,191 for the same period in 2025. As of September 30, 2026, 19,199,029 Class A ordinary shares remained subject to possible redemption, with a redemption value of $10.78 per share, the filing disclosed.

What Was Disclosed

Oaktree Acquisition Corp. III Life Sciences disclosed its unaudited condensed financial statements for Q3 2026, showing a quarterly net loss of $452,553, a Trust Account balance of $206,959,410, sharply higher G&A expenses, and a widened shareholders' deficit of $(9,619,846).