Research Alliance Corp III

Research Alliance Corp III is a blank-check company (SPAC) that raised $75M in its initial public offering on May 20, 2026. It agreed to combine with OHB Pediatrics Ltd., announced on Jul 27, 2026, at a stated value of $160M. The deal has not closed yet. Cayman Islands led the IPO, with Paid Research Alliance Holdings III. Cooley advised the SPAC and Kirkland & Ellis advised the underwriters on the IPO.

OHB Pediatrics Ltd., doing business as Oak Hill Bio, is a clinical-stage rare disease therapeutics company. It signed a business combination agreement with RA Capital's SPAC, with the combined company expected to trade on the Nasdaq Capital Market as OAKH.

Status

Deal announced

IPO date

May 20, 2026

IPO size

$75M

Target

OHB Pediatrics Ltd.

Announced

Jul 27, 2026

Stated deal value

$160M

IPO underwriters

Cayman Islands and Paid Research Alliance Holdings III

SPAC counsel (IPO)

Cooley and Maples and Calder

Underwriters' counsel (IPO)

Kirkland & Ellis