The capital structure is heavily reliant on a $204.8M trust account, yet the firm's financial health is pressured by accumulated losses that have deepened to -$7.2M.
| Total Current Assets | 1.42M | 1.55M | 1.56M |
| Cash & Short-Term Investments | - | - | - |
| Cash Only | - | - | - |
| Short-Term Investments | - | - | - |
| Accounts Receivable | - | - | - |
| Days Sales Outstanding | - | - | - |
| Inventory | - | - | - |
| Days Inventory Outstanding | - | - | - |
| Other Current Assets | 0 | 0 | 0 |
| Total Non-Current Assets | 203.41M | 201.56M | 193.69M |
| Property, Plant & Equipment | 0 | 0 | 0 |
| Fixed Asset Turnover | - | - | - |
| Goodwill | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 |
| Long-Term Investments | 794.34M | 201.56M | 193.58M |
| Other Non-Current Assets | - | - | - |
| Total Assets | 204.83M | 203.11M | 195.25M |
| Asset Turnover | 0.00x | - | - |
| Asset Growth % | 31394.91% | 4.03% | - |
| Total Current Liabilities | 1.62M | 1.3M | 727.32K |
| Accounts Payable | 0 | 0 | 0 |
| Days Payables Outstanding | - | - | - |
| Short-Term Debt | 11.82K | 11.82K | 11.82K |
| Deferred Revenue (Current) | 0 | - | - |
| Other Current Liabilities | 1.61M | 1.29M | 179.98K |
| Current Ratio | 0.87x | 1.19x | 2.14x |
| Quick Ratio | 0.87x | 1.19x | 2.14x |
| Cash Conversion Cycle | - | - | - |
| Total Non-Current Liabilities | 7.02M | 7.02M | 7.02M |
| Long-Term Debt | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | - | - |
| Deferred Tax Liabilities | 0 | - | - |
| Other Non-Current Liabilities | - | - | - |
| Total Liabilities | 8.64M | 8.32M | 7.75M |
| Total Debt | 11.82K | 11.82K | 11.82K |
| Net Debt | -1.27M | -1.42M | -1.35M |
| Debt / Equity | 0.00x | 0.00x | 0.00x |
| Debt / EBITDA | -0.01x | - | 19320.26x |
| Net Debt / EBITDA | 1.01x | - | -999999.00x |
| Interest Coverage | - | - | - |
| Total Equity | 196.19M | 194.79M | 187.5M |
| Equity Growth % | 835797.89% | 3.89% | - |
| Book Value per Share | 10.22 | 10.15 | 7.63 |
| Total Shareholders' Equity | 196.19M | 194.79M | 187.5M |
| Common Stock | 203.41M | 201.56M | 193.58M |
| Retained Earnings | -7.23M | -6.77M | -6.08M |
| Treasury Stock | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 |
Liquidation deadline execution risk
As reported in financial statements, OACC's total assets have grown to $204.8M by 2026Q1, yet this expansion is primarily driven by trust account interest rather than operational growth, while retained earnings have steadily declined to -$7.2M, reflecting the ongoing costs of maintaining the shell entity.
The trajectory of the balance sheet suggests a company in a holding pattern where asset growth is passive and decoupled from business development. Investors should monitor the widening deficit in retained earnings, which indicates that the cost of maintaining the public listing is consistently eroding the initial capital base.
Based on the 2026Q1 balance sheet, OACC's current ratio has compressed to 0.87, signaling that the entity's immediate liquid assets are no longer sufficient to cover its short-term liabilities as the search for a viable life sciences target continues to consume available cash reserves.
The decline in the current ratio from 2.14 in 2024Q4 to 0.87 in 2026Q1 suggests that the company's liquidity position is becoming increasingly strained. This trend warrants further investigation into whether management will require additional capital infusions to sustain operations until a definitive merger agreement is reached.
According to recent SEC filings, OACC's equity base of $196.2M as of 2026Q1 is being systematically eroded by accumulated losses, which have deepened from -$48.1K in 2024Q3 to -$7.2M, highlighting the impact of administrative overhead on the net value available to shareholders.
The consistent decline in retained earnings suggests that the equity value is primarily a function of the trust account rather than retained operational success. Investors should remain cautious, as the erosion of equity through persistent administrative spending may reduce the ultimate value proposition for shareholders during a potential de-SPAC transaction.
As indicated by the 2026Q1 data, the $204.8M in total assets is heavily skewed by the trust account, masking the fact that the company's actual operating cash is limited to $1.3M, which may be insufficient to support prolonged due diligence and complex deal structuring requirements.
The headline asset figure may provide a false sense of security, as the vast majority of these funds are restricted and cannot be used for general corporate purposes. This structural limitation implies that the company's operational flexibility is significantly more constrained than the total asset figure suggests, potentially forcing management to prioritize deal speed over target quality.
Quick answers to the most common questions about buying OACC stock.
As of 2025, Oaktree Acquisition Corp. III Life Sciences (OACC) had total assets of $203.1M including $1.5M in current assets.
Oaktree Acquisition Corp. III Life Sciences (OACC) carries total debt of $0.0M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Oaktree Acquisition Corp. III Life Sciences (OACC) has total shareholders' equity (book value) of $194.8M ($10.15 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Oaktree Acquisition Corp. III Life Sciences (OACC) reported a current ratio of 1.19x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.