Research Alliance Corporation III Reports Net Income of $54,050 for Quarter Ending June 30, 2026

Research Alliance Corporation III (RACC) reported its financial results for the three months ending June 30, 2026, revealing a net income of $54,050, a notable improvement from a net loss of $11,199 for the period from February 19, 2026 (inception) to June 30, 2026. The company generated $238,468 in interest income from marketable securities held in its Trust Account during the same quarter. Total assets as of June 30, 2026, amounted to $76.3 million, primarily driven by $75.2 million in marketable securities, while total liabilities stood at $2.3 million.

RACC's financial performance reflects significant changes compared to the previous fiscal period, particularly in its transition from a loss to a modest profit in the latest quarter. The company incurred general, formation, and administrative expenses of $184,418 for the three months ended June 30, 2026, which contributed to its overall operational costs. The increase in interest income indicates effective management of its cash reserves following its Initial Public Offering (IPO).

Strategically, RACC completed its IPO on May 21, 2026, raising $75 million by selling 7.5 million Class A ordinary shares at $10 each. Additionally, the company executed a private placement of 275,000 shares, generating an additional $2.75 million. Following the IPO, RACC entered into a Business Combination Agreement with OHB Pediatrics Ltd. on July 26, 2026, which is expected to close in the second half of 2026, subject to shareholder approval and customary closing conditions.

Operationally, RACC has not yet commenced any business operations, as its activities have been focused on organizational tasks and preparing for the proposed business combination. As of June 30, 2026, the company had cash reserves of $832,812 and working capital of $905,874. The company anticipates incurring significant costs related to the business combination, including due diligence and legal expenses, which may impact its liquidity.

Looking ahead, RACC's management has expressed uncertainty regarding its ability to complete the business combination successfully. The company plans to utilize the funds held in its Trust Account for this purpose, but there is no assurance that it will achieve its objectives. The financial statements indicate that RACC is in a critical phase, with ongoing efforts to enhance its internal controls and address identified weaknesses in financial reporting.