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Life Sciences by Milad Fakurian
Oaktree Acquisition Corp III Life Sciences
Introduction
Oaktree Acquisition Corp III Life Sciences (ticker: OACC) is a special purpose acquisition company (SPAC) sponsored by an affiliate of Oaktree Capital Management, L.P. Formed to identify and merge with businesses in the life sciences sector, it debuted on the Nasdaq Global Market on October 24, 2024, through a US$175 million initial public offering. The offering units were priced at US$10.00 each under the symbol “OACCU.”
Corporate Structure and Experience
Oaktree Acquisition Corp III Life Sciences operates within the broader framework of Oaktree Capital Management, a global alternative investment manager founded in 1995. As of June 30, 2025, Oaktree Capital Management oversaw US$209 billion in assets and employed approximately 1,450 professionals across 26 cities worldwide. This depth of experience in credit, equity, and real estate strategies underpins the SPAC’s approach to sourcing and executing transactions in the life sciences sector.
Recent Developments and News
On August 12, 2025, The Goldman Sachs Group and Goldman Sachs & Co. LLC amended their Schedule 13G/A filing to report shared beneficial ownership of 803,487 Class A ordinary shares, representing 4.1% of the outstanding shares (CUSIP: G6717R104). Earlier, on July 15, 2025, an amendment had disclosed ownership of 277,689 shares, which represented 1.4% of the class. These filings indicate institutional ownership prior to the SPAC’s business combination activities.
Legal and financial advisors remain significant stakeholders. In August 2022, White & Case LLP advised underwriters on the IPO, while Walkers acted for the SPAC on its offering, emphasizing the importance of specialized counsel in navigating regulatory and transactional complexities.
Financial and Strategic Analysis
As of October 9, 2025, OACC shares traded at US$10.57, reflecting a 0.12% increase on a volume of 150,284 compared to an average daily volume of 284—an increase indicating heightened trading interest. The SPAC’s balance sheet is centered on the IPO proceeds held in trust and any accrued interest, pending deployment in a qualifying life sciences acquisition.
Institutional ownership disclosures suggest that major financial entities are positioning ahead of potential mergers. The management discussion and analysis (MD&A) sections in the August 12, 2025 10-Q highlight market volatility and regulatory considerations as significant factors influencing the timing and valuation of target transactions.
Market Position and Industry Context
Oaktree Acquisition Corp III Life Sciences represents the third SPAC sponsored by Oaktree Capital Management in this vehicle structure. Previous SPACs completed mergers with Hims & Hers and Alvotech, indicating a focus on healthcare and biosimilars. The life sciences sector continues to attract investor attention, driven by innovation in biotechnology, pharmaceutical partnerships, and a pipeline of potential targets. Within this competitive SPAC landscape, OACC utilizes Oaktree’s underwriting expertise and global reach to differentiate its pursuit of growth opportunities in diagnostics, therapeutics, and related fields.
TL;DR
As of October 9, 2025, OACC shares were priced at US$10.57, with trading volume reaching 150,284 (average 284). Institutional filings on August 12, 2025, report The Goldman Sachs Group’s 4.1% stake, indicating preparations for a life sciences merger. The SPAC holds US$175 million in trust from its October 24, 2024 IPO. Acquisition efforts will be contingent on market conditions, regulatory approval, and target valuations in the evolving biotechnology and pharmaceutical landscape.
