OAC extends business combination deadline to November 25, 2026

Oaktree Acquisition Corp. III Life Sciences shareholders approved an amendment on October 23, 2026, extending the deadline to consummate a business combination from October 25, 2026, to November 25, 2026. The company filed the amendment with the Registrar of Companies of the Cayman Islands on the same date.

The vote, held at an extraordinary general meeting originally scheduled for October 16, 2026, also granted the company the authority to extend the termination date further on a monthly basis if requested by the sponsor. This additional extension period could last up to seven months after the original deadline, ending no later than May 25, 2027, provided a business combination has not closed before that date.

Holders of approximately 18.76 million ordinary shares were present in person or by proxy for the meeting, representing about 76.3% of the voting power of Oaktree Acquisition Corp. III Life Sciences ordinary shares as of the September 22, 2026, record date. Shareholders voted 17,956,072 in favor of the extension proposal and 802,517 against it, with no abstentions. Because sufficient votes were cast to approve the extension, a separate proposal to adjourn the meeting was not presented.

In connection with the approval of the amendment, holders of 11,331,102 Class A ordinary shares issued in the company's initial public offering exercised their right to redeem those shares. The redemption price was approximately $10.805 per share, resulting in an aggregate redemption amount of approximately $122,435,287.

The filing also disclosed that Oaktree Acquisition Holdings III LS, LLC converted 4,798,758 Class B ordinary shares into Class A ordinary shares on October 23, 2026. Following this conversion, the sponsor holds 5,382,739 Class A ordinary shares and 1,000 Class B ordinary shares. The newly issued Class A shares are subject to transfer restrictions and voting obligations consistent with the company's final prospectus for its initial public offering. The issuance relied on an exemption from registration under Section 3(a)(9) of the Securities Act of 1933.