Oaktree SPAC III: 13.3M Shares Redeemed Ahead of Oct 16 Extension Vote

summarizeSummary

Oaktree Acquisition Corp. III Life Sciences disclosed that 13,326,977 Class A shares were redeemed ahead of its October 16 extension vote, leaving about 11.25 million Class A shares outstanding, while the sponsor converts 4.8 million Class B shares to Class A.

check_boxKey Events · Corporate Governance and Compliance · OACC

• 13.3M Shares Redeemed Before Deadline

  13,326,977 Class A ordinary shares were tendered for redemption by the 5:00 p.m. ET October 14, 2026 deadline, a substantial portion of the public float.

• Post-Redemption Share Count

  Assuming redemption and the sponsor conversion, OAC will have 11,254,791 Class A ordinary shares and 1,000 Class B ordinary shares outstanding.

• Sponsor Converts 4.8M Class B Shares

  Oaktree Acquisition Holdings III LS, LLC intends to convert 4,798,758 Class B shares into Class A on a one-for-one basis, leaving it with 5,382,739 Class A shares including 583,981 private placement shares.

• October 16 Extension Vote Looms

  Shareholders vote October 16, 2026 on extending the business combination deadline; the Q2 10-Q previously disclosed a going-concern warning tied to the October 25, 2026 deadline.

auto_awesomeAnalysis · OACC · Real Estate & Construction

Roughly 13.3 million Class A shares were tendered for redemption before the October 14 deadline, leaving only about 11.25 million Class A shares outstanding if the extension passes. That is a heavy redemption load for a SPAC that still needs to find and close a business combination, and it shrinks the trust proceeds available to fund a deal. The sponsor is converting 4,798,758 Class B shares into Class A on a one-for-one basis, which keeps its voting power intact but does not add cash. The October 16 shareholder vote on the extension is the next gate; if it fails, the company faces liquidation and the going-concern warning already disclosed in the Q2 10-Q becomes immediate.