The asset base is almost entirely comprised of $204.8M in restricted cash held in trust, while the company maintains a minimal debt-to-equity ratio of 0.00.
| 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 and deal execution
According to recent SEC filings, OACCW's current ratio has compressed to 0.87 as of 2026Q1, reflecting a tightening liquidity position that warrants close monitoring as the entity continues to burn through its limited cash reserves while searching for a viable biopharmaceutical business combination target.
The decline in the current ratio from 2.14 in 2024Q4 to 0.87 in 2026Q1 suggests that the company's ability to cover short-term obligations is becoming increasingly constrained. This trend implies that the sponsor may soon need to provide additional working capital to sustain operations, as the current cash balance of $1.3M is insufficient to support an extended search period.
As reported in financial statements, OACCW's total equity has grown to $196.2M by 2026Q1, yet this figure is largely a function of trust account interest rather than operational success, masking the underlying erosion of capital caused by persistent administrative expenses and search-related costs.
While the headline equity figure appears stable, the accumulation of $7.2M in retained earnings losses indicates a consistent drain on resources. Investors should interpret this trajectory as a race against time, where the cost of maintaining the shell entity is steadily consuming the capital intended for a future merger.
Based on OACCW's reported figures, the asset base is almost entirely comprised of restricted cash held in trust, with total assets reaching $204.8M in 2026Q1, confirming that the company remains a pure-play capital vehicle devoid of any productive operating assets or tangible infrastructure.
The lack of PPE or intangible assets underscores the company's status as a shell, meaning the asset value is highly sensitive to interest rate fluctuations affecting the trust account. This asset mix provides no operational utility, serving only as a placeholder for a future acquisition that has yet to materialize.
According to the provided balance sheet data, the company's reliance on sponsor-backed debt and the absence of revenue-generating assets create a non-obvious risk where the entity may be forced into a suboptimal merger to avoid liquidation as cash reserves dwindle.
The presence of $11.8K in debt, while small, signals the beginning of external financing requirements to cover ongoing administrative burdens. This suggests that the company's flexibility is narrowing, and the pressure to secure a deal may override the sponsor's typical discipline if the liquidation deadline approaches without a target.
Quick answers to the most common questions about buying OACCW stock.
As of 2025, Oaktree Acquisition Corp. III Life Sciences (OACCW) had total assets of $203.1M including $1.5M in current assets.
Oaktree Acquisition Corp. III Life Sciences (OACCW) 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 (OACCW) 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 (OACCW) 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.