橡树收购 Corp III 生命科学-A 2025年季度报告

(MARK ONE)☒QUARTERLY REPORT PURSUANT TOSECTION13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934 For the quarter endedSeptember 30,2025 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934 For the transition period fromtoCommission file number:001-42383 OAKTREE ACQUISITION CORP. III LIFE SCIENCES(Exact Name of Registrant as Specified in Its Charter) Cayman Islands(State or other jurisdiction ofincorporation or organization) 98-1799512(I.R.S. EmployerIdentification No.) 333 South Grand Avenue,28th FloorLos Angeles,California90071(Address of principal executive offices)+1(213)830-6300(Issuer’s telephone number) Check whether the issuer (1)filed all reports required to be filed by Section13 or 15(d) of the Exchange Act during the past 12 months (or for suchshorter period that the registrant was required to file such reports), and (2)has been subject to such filing requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 ofRegulationS-T(§232.405of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit suchfiles).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, anon-acceleratedfiler, a smaller reporting company or anemerging growth company. See definitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company”, and “emerging growthcompany” inRule12b-2of the Exchange Act. Largeacceleratedfiler☐Non-acceleratedfiler☒ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with anynew or revised financial accounting standards provided pursuant to Section13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined inRule12b-2of the Exchange Act).Yes☒No☐ As of November13, 2025, there were19,783,010ClassA ordinary shares, $0.0001 par value and4,799,758ClassB ordinary shares, $0.0001 par value,issued and outstanding. Table of Contents OAKTREE ACQUISITION CORP. III LIFE SCIENCES FORM10-QFOR THE QUARTER ENDED SEPTEMBER30, 2025TABLE OF CONTENTS Part I. Financial InformationItem 1. Interim Financial StatementsCondensed Balance Sheets as of September30, 2025 (Unaudited) and December31, 2024Condensed Statements of Operations for the three and nine months ended September30, 2025, for the three months endedSeptember30, 2024 and for the period from June28, 2024 (Inception) through September30, 2024 (Unaudited)Condensed Statements of Changes in Shareholders’ Deficit for the three and nine months ended September30, 2025, for the threemonths ended September30, 2024 and for the period from June28, 2024 (Inception) through September30, 2024 (Unaudited)Condensed Statements of Cash Flows for the nine months ended September30, 2025 and for the period from June28, 2024 (Inception)through September30, 2024 (Unaudited)Notes to Condensed Financial Statements (Unaudited)Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsItem 3. Quantitative and Qualitative Disclosures About Market RiskItem 4. Controls and ProceduresPart II. Other InformationItem 1. Legal ProceedingsItem 1A. Risk FactorsItem 2. Unregistered Sales of Equity Securities and Use of ProceedsItem 3. Defaults Upon Senior SecuritiesItem 4. Mine Safety DisclosuresItem 5. Other InformationItem 6. ExhibitsPart III. Signatures Table of Contents PART I - FINANCIAL INFORMATION OAKTREE ACQUISITION CORP. III LIFE SCIENCESCONDENSED BALANCE SHEETS OAKTREE ACQUISITION CORP. III LIFE SCIENCESCONDENSED STATEMENTS OF OPERATIONS(UNAUDITED) (1)Included656,250ClassB Ordinary Shares subject to forfeiture if the over-allotment option was not exercised in full or in part by the underwriters(Note5). On October30, 2024, the underwriters closed on the partial exercise of the over-allotment option granted to the underwriters of theInitial Public Offering and purchased an additional1,699,029Public Units. The underwriters have forfeited their right to purchase the remaining925,971Public Units that they were allowed to purchase under their over-allotment option, consequently231,493of ClassB Ordinary shares wereforfeited and cancelled on that date. The accompanying notes are an integral part of the unaudited condensed financial statements. Table of Contents OAKTREE ACQUISITION CORP. III LIFE SCIENCESCONDENSED STATEMENTS OF CHANGES IN SHAREHOLDERS’ DEFICIT(UNAUDITED)FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER30, 2025 (1)Included656,250Class B Ordinary Shares subject to forfeiture if the over-allotment option was not exercised in full or in part by the underwriters(Note 5). On October 30, 2024, the underwriters closed on the partial exercise of the over-allotment option granted to the underwriters of theInitial Pu