Oaktree Acquisition Corp. III Life Sciences (OAC) has amended its charter to extend the deadline for completing a business combination by seven months, moving the new termination date to May 25, 2027. The company held an extraordinary general meeting on October 23, 2026, to vote on the extension proposal. Shareholders approved the amendment with 17,956,072 votes in favor, 802,517 against, and 0 abstentions.
Following the meeting, the Sponsor, Oaktree Acquisition Holdings III LS, LLC, converted 4,798,758 Class B ordinary shares into Class A ordinary shares. The Sponsor now holds a total of 5,382,739 Class A shares and 1,000 Class B shares. These newly issued shares remain subject to transfer restrictions and a requirement to vote in favor of the initial business combination.
Approximately 76.3% of the voting power was represented at the meeting. In connection with the vote, holders of 11,331,102 public shares exercised their right to redeem their shares for cash at a price of approximately $10.805 per share, resulting in an aggregate redemption amount of approximately $122,435,287.
