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Oaktree Acquisition Corp. III Life Sciences (NASDAQ:OACC), a $258 million market cap company currently trading near its 52-week high of $11.06, announced Friday the appointment of David A. Berry, MD, PhD, as an independent director of the company. According to InvestingPro data, the company maintains strong liquidity with a current ratio of 2.14, indicating solid financial positioning. Dr. Berry will serve as a Class II director until a successor is appointed or until his earlier resignation or removal. He was also named to the board’s audit, nominating, and compensation committees.
According to the company’s statement in a regulatory filing, Dr. Berry qualifies as an independent director under the Nasdaq Stock Market listing standards and Rule 10A-3 of the Securities Exchange Act of 1934.
Dr. Berry is co-founder and managing partner of Averin Capital, a role he has held since May 2025. His previous experience includes positions at Flagship Pioneering from 2005 to 2025, where he served as partner, general partner, and managing partner. This appointment comes as OACC demonstrates stable financial performance, with InvestingPro analysis showing profitability over the last twelve months and notably low price volatility. Dr. Berry has also served as founder and chief executive officer of Valo Health and held board positions at several publicly traded life sciences companies, including Omega Therapeutics, Inc. (NASDAQ:OMGA), Seres Therapeutics, Inc. (NASDAQ:MCRB), Axcella Health, Inc. (NASDAQ:AXLA), and Evelo Biosciences (NASDAQ:EVLO).
Dr. Berry holds an M.D. from Harvard Medical School and a Ph.D. in biological engineering as well as a B.S. in brain and cognitive sciences from the Massachusetts Institute of Technology.
The filing states that Dr. Berry will not receive compensation for his service as a director. He is expected to be offered an opportunity to invest in a non-controlling minority position in Oaktree Acquisition Holdings III LS, LLC, similar to other independent directors. For investors seeking deeper insights into OACC’s governance and financial metrics, InvestingPro offers additional exclusive analysis and 6 more key ProTips that could inform investment decisions. Dr. Berry is also expected to enter into a Letter Agreement and Indemnity Agreement with the company, on the same terms as other directors and officers at the time of the company’s initial public offering.
The company reported that Dr. Berry is not party to any arrangement or understanding related to his appointment, nor does he have any family relationships with existing directors or executive officers. The information is based on a press release statement filed with the Securities and Exchange Commission.
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