Oaktree Acquisition Corp. III Life Sciences

General Information
Business:

We are a newly organized blank check company focused on the healthcare sector. We intend to focus on target companies with an approximate enterprise (value) of $500 million to $1.5 billion. (Incorporated in the Cayman Islands)

We intend to focus our search for acquisition targets on the healthcare or healthcare-related industries. In particular, we intend to target North American, British or European companies in the biopharmaceutical, medical devices, diagnostics and specialized healthcare services sectors, where our management has extensive investment experience.

Oaktree is a leading global investment management firm founded in 1995 and headquartered in Los Angeles, California, with over 1,200 employees throughout offices in 23 cities in 17 countries (including offices of affiliates of Oaktree-managed funds). As of June 30, 2024, Oaktree had approximately $193 billion in assets under management. Of such AUM, approximately $16.3 billion have been committed across its private equity strategies. Oaktree’s senior executives and investment professionals have focused on less efficient markets and alternative investments for the past 39 years. Oaktree emphasizes a value-oriented approach to deploying capital in control investing, listed equities, and other alternative investment strategies. Oaktree also has a stellar SPAC track record, specifically in the healthcare space with two prior de-SPACing acquisitions of Hims & Hers Health, Inc. (NYSE: HIMS) and Alvotech (NASDAQ: ALVO).

John Frank has served as the chairman and on our board of directors since July 2024. Mr. Frank served in a similar role on the board of directors of Oaktree Acquisition Corp. I and Oaktree Acquisition Corp. II until their business combinations with Hims, Inc. and Alvotech Holdings S.A., respectively. Mr. Frank is Vice Chairman and Director of Brookfield Oaktree Holdings, LLC (formerly Oaktree Capital Group, LLC) and Vice Chairman of Oaktree. He has been senior executive of Oaktree working closely with co-founders Howard Marks and Bruce Karsh, for 23 years. Since October 2017, Mr. Frank has also served as the chairman of the board of directors of Oaktree Specialty Lending Corporation.

Zaid Pardesi has served as our Chief Executive Officer since July 2024 and is a managing director at Oaktree Capital. Mr. Pardesi has also served as the Chief Financial Officer and Head of M&A of Oaktree Acquisition Corp. II from September 2020 until the closing of the business combination of Oaktree Acquisition Corp. II with Alvotech (NASDAQ: ALVO) in June 2022. From July 2019 to January 2021, Mr. Pardesi served as Chief Financial Officer and Head of M&A of Oaktree Acquisition Corp., which consummated a business combination with Hims & Hers Health, Inc. (NYSE: HIMS). He has spent his career originating, acquiring and managing middle-market companies in the industrial, consumer, and healthcare sectors, often operating platforms as Chief Financial Officer. Mr. Pardesi joined Oaktree in 2019 from The Cranemere Group, a global holding company, where he was a senior investment professional acquiring middle-market businesses. Prior thereto, Mr. Pardesi was an investor at H.I.G. Capital and at AEA Investors in New York and London. He began his career at Bain & Company. 

 

(Note: Oaktree Acquisition Corp. III Life Sciences priced its SPAC IPO on Wednesday night, Oct. 23, 2024, in sync with the terms in the prospectus: 17.5 million shares at $10.00 each to raise $175.0 million. Each unit consists of one Class A ordinary share and one-fifth of one redeemable warrant. Background: Oaktree Acquisition Corp. III Life Sciences filed its S-1 for its SPAC IPO on Oct. 4, 2024, and disclosed the terms: 17.5 million units at $10.00 each to raise $175.0 million.)

Industry: BLANK CHECKS
Employees: 0
Founded: 2024
Contact Information
Address 333 South Grand Avenue, 28th Floor Los Angeles, California 90071
Phone Number (213) 830 6300
Web Address http://www.oaktreeacquisitioncorp.com/
View Prospectus: Oaktree Acquisition Corp. III Life Sciences
Financial Information
Market Cap $224.25mil
Revenues $0 mil (last 12 months)
Net Income $0 mil (last 12 months)
IPO Profile
Symbol OACCU
Exchange NASDAQ
Shares (millions): 17.5
Price range $10.00 - $10.00
Est. $ Volume $175.0 mil
Manager / Joint Managers Jefferies/Citigroup/UBS Investment Bank
CO-Managers
Expected To Trade: 10/24/2024
Status: Priced
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
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