Lakeshore Acquisition III Corp. 10-K

ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED SHAREHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES Our Units began to trade on the Nasdaq Global Market, or Nasdaq, under the symbol “LCCCU” on April 30, 2025. The Ordinary Shares and Rights comprising the units began separate trading on Nasdaq on June 23, 2025, under the symbols “LCCC” and “LCCCR,” respectively. Holders of Record At December 31, 2025, 7,722,866 of our Ordinary Shares held by five shareholders of record and 1,182,134 Units held by two holders of record. The number of record holders was determined from the records of our transfer agent and does not include beneficial owners of ordinary shares whose shares are held in the names of various security brokers, dealers, and registered clearing agencies. Dividends We have not paid any cash dividends on our ordinary shares to date and do not intend to pay cash dividends prior to the completion of an initial business combination. The payment of cash dividends in the future will be dependent upon our revenues and earnings, if any, capital requirements and general financial condition subsequent to completion of a business combination. The payment of any dividends subsequent to a business combination will be within the discretion of our board of directors at such time. It is the present intention of our board of directors to retain all earnings, if any, for use in our business operations and, accordingly, our board of directors does not anticipate declaring any dividends in the foreseeable future. In addition, our board of directors is not currently contemplating and does not anticipate declaring any share dividends in the foreseeable future. Further, if we incur any indebtedness, our ability to declare dividends may be limited by restrictive covenants we may agree to in connection therewith. Securities Authorized for Issuance Under Equity Compensation Plans None. Recent Sales of Unregistered Securities On November 6, 2024, we issued 1,725,000 ordinary shares of a par value of $0.0001 each to our Sponsor for a purchase price of $25,000, or approximately $0.014 per share. On April 29, 2025, our Sponsor transferred to each independent director, Jon M. Montgomery, Dr. H. David Sherman, and Brian Ferrier 10,000 founder shares, all at the original purchase price when the sponsor acquired such shares from us. As of date of this report, an aggregate of 1,725,000 shares had been sold to certain of our founders, which we refer to throughout this report as the “Founder Shares,” for an aggregate purchase price of $25,000, or approximately $0.014 per share, in connection with the Company’s organization pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act. On May 1, 2025, the Company consummated the IPO of 6,900,000 Units, which includes full exercise of the underwriter’s over-allotment option. Each Unit consists of one Ordinary Shares and one Right. The Units were sold at a price of $10.00 per Unit, generating gross proceeds to the Company of $69,000,000. Simultaneously with the closing of the IPO, the Company consummated Private Placement in which the Sponsor purchased 280,000 Private Placement Units at a price of $10.00 per Private Placement Unit, generating total gross proceeds of $2,800,000. The Private Placement Units are identical to the Units sold in the IPO except that the Private Placement Units are subject to certain transfer restrictions. The issuances were made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act. 8 Table of Contents A total of $69,000,000 of the net proceeds from the IPO and the Private Placement were deposited in a trust account established for the benefit of the Company’s public shareholders. We paid a total of $1,035,000 underwriting discounts and commissions and $484,900 for other offering costs and expenses related to the IPO. In addition, the underwriters agreed to defer $2,415,000 in underwriting discounts and commissions, which will be in the form of ordinary shares at $10.00 per share upon the consummation of the Company’s initial business combination. At December 31, 2025, the Company had $70,858,017 held in the Trust Account, which primarily consists of investments in mutual funds that invest in U.S. government securities, cash, or a combination thereof. Purchases of Equity Securities by the Issuer and Affiliated Purchasers None. Item 6. Reserved.