Oaktree Acquisition Corp. III Life Sciences, a blank check company focused on effecting a merger or similar business combination, has released its Form 10-Q report for the first quarter of 2025. The company, which has not yet commenced operations, is currently engaged in activities related to its formation, initial public offering, and the search for a business combination target.
Financial Highlights
- Net Income: $1.66 million, driven by interest earned on cash held in the Trust Account amounting to $2.10 million, offset by general and administrative expenses of $0.44 million.
- Net Income Per Share, Class A ordinary shares: $0.07, reflecting the company's earnings per share for redeemable Class A ordinary shares.
- Net Income Per Share, non-redeemable Class A ordinary shares and Class B ordinary shares: $0.07, indicating consistent earnings per share across different classes of shares.
Business Highlights
- Company Overview: Oaktree Acquisition Corp. III Life Sciences is a blank check company formed to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. The company has not yet commenced operations and is focused on identifying a target for its initial business combination.
- Operational Focus: The company is currently engaged in activities related to its formation, the initial public offering, and the search for a business combination target. It has not generated any operating revenues and does not expect to do so until after completing a business combination.
- Interest Income: The company generates non-operating income in the form of interest earned on cash held in the trust account. For the three months ended March 31, 2025, interest income amounted to $2,103,593.
- Segment Information: The company operates as a single segment, with the Chief Executive Officer reviewing the operating results for the company as a whole to make decisions about resource allocation and financial performance assessment.
- Future Outlook: The company expects to continue incurring significant costs in pursuit of its acquisition plans and cannot assure the successful completion of a business combination. The management is focused on identifying and evaluating target businesses, performing due diligence, and structuring a potential business combination.
- Liquidity and Capital Resources: As of March 31, 2025, the company had $1,281,483 in cash outside of the trust account, intended for identifying and evaluating target businesses and performing due diligence. The company also has $195,682,615 held in the trust account for completing a business combination.
- Management's Discussion: Management highlights the company's focus on completing an initial business combination using cash from the initial public offering proceeds and private placement units. The company is also considering using shares, debt, or a combination of cash, equity, and debt for the business combination.
SEC Filing: