Osprey Acquisition Corp. III

What they do

The company was incorporated on January 27, 2026, and has conducted no operations or generated any revenue to date. Its only activities through June 30, 2026, were organizational and preparatory work for its initial public offering. It was formed to effect a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses in any industry.

Revenue drivers

• Interest and dividend income on Trust Account — Following the IPO, the company expects to generate non-operating income from investments held in the Trust Account; no operating revenue is expected until at least the completion of a business combination.
• No operating revenue lines — The company has neither engaged in any operations nor generated any revenues from inception through June 30, 2026.

Recent performance

For the three months ended June 30, 2026, the company reported a net loss of $61,672, consisting entirely of general and administrative costs. For the period from inception on January 27, 2026, through June 30, 2026, the net loss was $109,270, also all general and administrative costs. As of June 30, 2026, the company had $22,607 in cash, total assets of $433,749, total shareholders' deficit of $84,270, and a working capital deficit of $495,412. No revenues were recorded in any period.

Strategy

The company's stated plan is to effectuate an initial business combination using cash from the IPO and private placement proceeds, as well as shares, debt or a combination thereof. It may pursue a target in any business or industry. The IPO, including the full over-allotment exercise, raised gross proceeds of $300,150,000 from 30,015,000 units at $10.00 per unit, and a concurrent private placement of 747,000 units raised an additional $7,470,000. A total of $300,150,000 from the net proceeds and a portion of the private placement proceeds was placed in the Trust Account. Total transaction costs were $18,575,142, including $5,220,000 of cash underwriting fees.

Risks

• No business combination identified — The company has not yet selected any target business and may be unable to complete an initial business combination within the required timeframe.
• Working capital deficit — As of June 30, 2026, the company reported a working capital deficit of $495,412 and had only $22,607 in cash.
• Reliance on Sponsor and loans — Before the IPO, the company's only sources of liquidity were an initial purchase of Class B ordinary shares by the Sponsor and loans from the Sponsor.
• Blank check company risks — The company has no operating history and no revenue, and its ability to consummate a business combination is subject to significant uncertainty and potential dilution to public shareholders.

Outlook

Management states that it expects to continue to incur significant costs in the pursuit of its acquisition plans and cannot assure that its plans to complete a business combination will be successful. The company does not expect to generate any operating revenues until after the completion of its business combination, at the earliest, although it expects non-operating interest or dividend income on Trust Account investments. No specific target or timeline for a business combination was disclosed in the excerpts provided.