# EDGAR Filing Document

**Accession Number:** 0002105798
**File Stem:** 0001213900-26-010248
**Filing Date:** 2026-1
**Character Count:** 101540
**Document Hash:** d169d73001e0551488bc5111c540ca35
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-26-010248.hdr.sgml**: 20260130

**ACCESSION NUMBER**: 0001213900-26-010248

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D

**PUBLIC DOCUMENT COUNT**: 3

**FILED AS OF DATE**: 20260130

**DATE AS OF CHANGE**: 20260130

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Helix Acquisition Corp. III
- **CENTRAL INDEX KEY:** 0002099656
- **STANDARD INDUSTRIAL CLASSIFICATION:** BLANK CHECKS [6770]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 981895727
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-95442
- **FILM NUMBER:** 26583926

**BUSINESS ADDRESS:**
- **STREET 1:** C/O CORMORANT ASSET MANAGEMENT LP
- **STREET 2:** 200 CLARENDON STREET, 52ND FLOOR
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02116
- **BUSINESS PHONE:** (857) 702-0370

**MAIL ADDRESS:**
- **STREET 1:** C/O CORMORANT ASSET MANAGEMENT LP
- **STREET 2:** 200 CLARENDON STREET, 52ND FLOOR
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02116
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Helix Holdings III LLC
- **CENTRAL INDEX KEY:** 0002105798

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D

**BUSINESS ADDRESS:**
- **STREET 1:** C/O CORMORANT ASSET MANAGEMENT LP
- **STREET 2:** 200 CLARENDON STREET, 52ND FLOOR
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02116
- **BUSINESS PHONE:** (857) 702-0370

**MAIL ADDRESS:**
- **STREET 1:** C/O CORMORANT ASSET MANAGEMENT LP
- **STREET 2:** 200 CLARENDON STREET, 52ND FLOOR
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02116

## Exhibit 99.1

**Exhibit 99.1**

**JOINT FILING AGREEMENT**

AGREEMENT dated as of January 28, 2026, by and between Helix Holdings III LLC, a Cayman Islands limited liability company, and Bihua Chen (each, a "Party," and together, the "Parties").

Each Party hereto represents to the other Party that it is eligible to use Schedule 13D to report its beneficial ownership of Class A ordinary shares, $0.0001 par value per share, of Helix Acquisition Corp. III. Each Party hereto agrees that the Schedule 13D, dated January 28, 2026, relating to such beneficial ownership, is filed on behalf of each of them.

Each of the Parties agrees to be responsible for the timely filing of the Schedule 13D and any and all amendments thereto and for the completeness and accuracy of the information concerning itself contained in the Schedule 13D, and the other Party to the extent it knows or has reason to believe that any information about the other Party is inaccurate.

*[Signature Page Follows]*

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first set forth above.

---

| | |
|:---|:---|
| **Helix Holdings III LLC** | **Helix Holdings III LLC** |
| By: | /s/ Bihua Chen |
|  | Bihua Chen, Managing Member of Helix Holdings III LLC |

---

---

| |
|:---|
| **BIHUA CHEN** |
| /s/ Bihua Chen |

---

## Exhibit 99.6

**Exhibit 99.6**

**INDEMNITY AGREEMENT**

THIS INDEMNITY AGREEMENT (this "***Agreement***") is made as of January 22, 2026, by and between HELIX ACQUISITION CORP. III, a Cayman Islands exempted company (the "***Company***"), and Bihua Chen ("***Indemnitee***").

**RECITALS**

**WHEREAS**, highly competent persons have become more reluctant to serve publicly-held corporations as directors, officers or in other capacities unless they are provided with adequate protection through insurance or adequate indemnification against inordinate risks of claims and actions against them arising out of their service to and activities on behalf of such corporations;

**WHEREAS**, the board of directors of the Company (the "***Board***") has determined that, in order to attract and retain qualified individuals, the Company will attempt to maintain on an ongoing basis, at its sole expense, liability insurance to protect persons serving the Company and its subsidiaries, if any, from certain liabilities;

**WHEREAS**, directors, officers and other persons in service to corporations or business enterprises are being increasingly subjected to expensive and time-consuming litigation relating to, among other things, matters that traditionally would have been brought only against the Company or business enterprise itself;

**WHEREAS**, the amended and restated memorandum and articles of association of the Company (the "***Charter***") require indemnification of the officers and directors of the Company, Indemnitee may also be entitled to indemnification pursuant to applicable Cayman Islands law and the Charter provides that the indemnification provisions set forth therein are not exclusive, and thereby contemplates that contracts may be entered into between the Company and members of the Board, officers and other persons with respect to indemnification, hold harmless, exoneration, advancement and reimbursement rights;

**WHEREAS**, the uncertainties relating to such insurance and to indemnification have increased the difficulty of attracting and retaining such persons;

**WHEREAS**, the Board has determined that the increased difficulty in attracting and retaining such persons is detrimental to the best interests of the Company's shareholders and that the Company should act to assure such persons that there will be increased certainty of such protection in the future;

**WHEREAS**, it is reasonable, prudent and necessary for the Company contractually to obligate itself to indemnify, hold harmless, exonerate and to advance expenses on behalf of, such persons to the fullest extent permitted by applicable law and the Charter so that they will serve or continue to serve the Company free from undue concern that they will not be so protected against liabilities;

**WHEREAS**, this Agreement is a supplement to and in furtherance of the Charter and any resolutions adopted pursuant thereto, and shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder; and

**WHEREAS**, Indemnitee may not be willing to serve as an officer or director, advisor or in another capacity, without adequate protection, and the Company desires Indemnitee to serve in such capacity. Indemnitee is willing to serve, continue to serve and to take on additional service for or on behalf of the Company on the condition that he or she be so indemnified;

 **NOW, THEREFORE**, in consideration of the premises and the covenants contained herein and subject to the provisions of the letter agreement dated as of January 22, 2026 by and among the Company, Indemnitee and the other parties thereto, the Company and Indemnitee do hereby covenant and agree as follows:

**<u>TERMS AND CONDITIONS</u>**

1. **SERVICES TO THE COMPANY**. Indemnitee will serve or continue to serve as an officer, director, advisor,
key employee or in any other capacity of the Company, as applicable, for so long as Indemnitee is duly elected, appointed or retained
or until Indemnitee tenders his or her resignation or until Indemnitee is removed. The foregoing notwithstanding, this Agreement shall
continue in full force and effect as provided in Section 17. This Agreement, however, shall not impose any obligation on Indemnitee or
the Company to continue Indemnitee's service to the Company beyond any period otherwise required by law or by other agreements or
commitments of the parties, if any.

2. **DEFINITIONS**. As used in this Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;(a) The term "  ***agent***" shall mean any
person who is or was a director, officer or employee of the Company or a subsidiary of the Company or other person authorized by the
Company to act for the Company, to include such person serving in such capacity as a director, officer, employee, fiduciary or other
official of another corporation, partnership, limited liability company, joint venture, trust or other enterprise at the request of,
for the convenience of, or to represent the interests of the Company or a subsidiary of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;(b) The terms "  ***Beneficial Owner***" and
"  ***Beneficial Ownership***" shall have the meanings set forth in Rule 13d-3 promulgated under the Exchange Act (as
defined below) as in effect on the date hereof.

&nbsp;&nbsp;&nbsp;&nbsp;(c) The term "  ***Cayman Court***" shall mean
the courts of the Cayman Islands.

&nbsp;&nbsp;&nbsp;&nbsp;(d) The term "  ***Change in Control***" shall
mean the occurrence of the earliest to occur after the date of this Agreement of any of the following events:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Acquisition of Shares by Third Party</u>. Other than an
affiliate of Helix Holdings III LLC (the "  ***Sponsor*** "), any Person (as defined below) is or becomes the Beneficial
Owner, directly or indirectly, of securities of the Company representing fifteen percent (15%) or more of the combined voting power of
the Company's then outstanding securities entitled to vote generally in the election of directors, unless (1) the change in the
relative Beneficial Ownership of the Company's securities by any Person results solely from a reduction in the aggregate number
of outstanding shares entitled to vote generally in the election of directors, or (2) such acquisition was approved in advance by the
Continuing Directors (as defined below) and such acquisition would not constitute a Change in Control under part (iii) of this definition;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) <u>Change in Board of Directors</u>. Individuals who, as of
the date hereof, constitute the Board, and any new director whose election by the Board or nomination for election by the Company's
shareholders was approved by a vote of at least two thirds of the directors then still in office who were directors on the date hereof
or whose election or nomination for election was previously so approved (collectively, the "  ***Continuing Directors*** "),
cease for any reason to constitute at least a majority of the members of the Board;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) <u>Corporate Transactions</u>. The effective date of a merger,
share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more
businesses (a "  ***Business Combination*** "), in each case, unless, following such Business Combination: (1) all or
substantially all of the individuals and entities who were the Beneficial Owners of securities entitled to vote generally in the election
of directors immediately prior to such Business Combination beneficially own, directly or indirectly, more than 51% of the combined voting
power of the then outstanding securities of the Company entitled to vote generally in the election of directors resulting from such Business
Combination (including, without limitation, a corporation which as a result of such transaction owns the Company or all or substantially
all of the Company's assets either directly or through one or more Subsidiaries (as defined below)) in substantially the same proportions
as their ownership immediately prior to such Business Combination, of the securities entitled to vote generally in the election of directors;
(2) other than an affiliate of the Sponsor, no Person (excluding any corporation resulting from such Business Combination) is the Beneficial
Owner, directly or indirectly, of 15% or more of the combined voting power of the then outstanding securities entitled to vote generally
in the election of directors of the surviving corporation except to the extent that such ownership existed prior to the Business Combination;
and (3) at least a majority of the Board of Directors of the corporation resulting from such Business Combination were Continuing Directors
at the time of the execution of the initial agreement, or of the action of the Board of Directors, providing for such Business Combination;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) <u>Liquidation</u>. The approval by the shareholders of the
Company of a complete liquidation of the Company or an agreement or series of agreements for the sale or disposition by the Company of
all or substantially all of the Company's assets, other than factoring the Company's current receivables or escrows due (or,
if such approval is not required, the decision by the Board to proceed with such a liquidation, sale, or disposition in one transaction
or a series of related transactions); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) <u>Other Events</u>. There occurs any other event of a nature
that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A (or any successor rule) (or a response
to any similar item on any similar schedule or form) promulgated under the Exchange Act (as defined below), whether or not the Company
is then subject to such reporting requirement.

&nbsp;&nbsp;&nbsp;&nbsp;(e) The term "  ***Companies Act***" shall
mean the Companies Act (As revised) of the Cayman Islands, as amended from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;(f) The term "  ***Corporate Status***" describes
the status of a person who is or was a director, officer, trustee, general partner, managing member, fiduciary, employee or agent of
the Company or of any other Enterprise (as defined below) which such person is or was serving at the request of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;(g) The term "  ***Disinterested Director*** "
shall mean a director of the Company who is not and was not a party to the Proceeding (as defined below) in respect of which indemnification
is sought by Indemnitee.

&nbsp;&nbsp;&nbsp;&nbsp;(h) The term "  ***Enterprise***" shall mean
the Company and any other corporation, constituent corporation (including any constituent of a constituent) absorbed in a consolidation
or merger to which the Company (or any of its wholly owned subsidiaries) is a party, limited liability company, partnership, joint venture,
trust, employee benefit plan or other enterprise of which Indemnitee is or was serving at the request of the Company as a director, officer,
trustee, general partner, managing member, fiduciary, employee or agent.

&nbsp;&nbsp;&nbsp;&nbsp;(i) The term "  ***Exchange Act***" shall mean
the Securities Exchange Act of 1934, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;(j) The term "  ***Expenses***" shall include
all direct and indirect costs, fees and expenses of any type or nature whatsoever, including, without limitation, all reasonable attorneys'
fees and costs, retainers, court costs, transcript costs, fees of experts, witness fees, travel expenses, fees of private investigators
and professional advisors, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, fax transmission
charges, secretarial services and all other disbursements, obligations or expenses in connection with prosecuting, defending, preparing
to prosecute or defend, investigating, being or preparing to be a witness in, settlement or appeal of, or otherwise participating in,
a Proceeding (as defined below), including reasonable compensation for time spent by Indemnitee for which he or she is not otherwise
compensated by the Company or any third party. Expenses also shall include Expenses incurred in connection with any appeal resulting
from any Proceeding (as defined below), including without limitation the principal, premium, security for, and other costs relating to
any cost bond, supersedeas bond, or other appeal bond or its equivalent. Expenses, however, shall not include amounts paid in settlement
by Indemnitee or the amount of judgments or fines against Indemnitee.

&nbsp;&nbsp;&nbsp;&nbsp;(k) The term "Independent Counsel" shall mean a law
firm or a member of a law firm with significant experience in matters of corporate law and neither presently is, nor in the past five
years has been, retained to represent: (i) the Company or Indemnitee in any matter material to either such party (other than with respect
to matters concerning Indemnitee under this Agreement, or of other indemnitees under similar indemnification agreements); or (ii) any
other party to the Proceeding (as defined below) giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing,
the term "Independent Counsel" shall not include any person who, under the applicable standards of professional conduct then
prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine Indemnitee's
rights under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;(l) The term "  ***Person***" shall have the
meaning as set forth in Sections 13(d) and 14(d) of the Exchange Act as in effect on the date hereof; provided, however, that "Person"
shall exclude: (i) the Company; (ii) any Subsidiaries (as defined below) of the Company; (iii) any employment benefit plan of the Company
or of a Subsidiary (as defined below) of the Company or of any corporation owned, directly or indirectly, by the shareholders of the
Company in substantially the same proportions as their ownership of shares of the Company; and (iv) any trustee or other fiduciary holding
securities under an employee benefit plan of the Company or of a Subsidiary (as defined below) of the Company or of a corporation owned
directly or indirectly by the shareholders of the Company in substantially the same proportions as their ownership of shares of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;(m) The term "  ***Proceeding***" shall include
any threatened, pending or completed action, suit, arbitration, mediation, alternate dispute resolution mechanism, investigation, inquiry,
administrative hearing or any other actual, threatened or completed proceeding, whether brought in the right of the Company or otherwise
and whether of a civil (including intentional or unintentional tort claims), criminal, administrative or investigative or related nature,
in which Indemnitee was, is, will or might be involved as a party or otherwise by reason of the fact that Indemnitee is or was a director
or officer of the Company, by reason of any action (or failure to act) taken by him or her or of any action (or failure to act) on his
or her part while acting as a director or officer of the Company, or by reason of the fact that he or she is or was serving at the request
of the Company as a director, officer, trustee, general partner, managing member, fiduciary, employee or agent of any other Enterprise,
in each case whether or not serving in such capacity at the time any liability or expense is incurred for which indemnification, reimbursement,
or advancement of expenses can be provided under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;(n) The term "  ***Serving at the request of the Company*** "
shall include any service as a director, officer, employee, agent or fiduciary of the Company which imposes duties on, or involves services
by, such director, officer, employee, agent or fiduciary with respect to an employee benefit plan, its participants or beneficiaries;
and if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in the best interests of the participants
and beneficiaries of an employee benefit plan, Indemnitee shall be deemed to have acted in a manner "  ***not opposed to the best interests of the Company***" as referred to in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;(o) The term "  ***Subsidiary*** ," with respect
to any Person, shall mean any corporation, limited liability company, partnership, joint venture, trust or other entity of which a majority
of the voting power of the voting equity securities or equity interest is owned, directly or indirectly, by that Person.

&nbsp;&nbsp;&nbsp;&nbsp;(p) The phrase "  ***to the fullest extent permitted by applicable law***" shall include, but not be limited to: (a) to the fullest extent authorized or permitted by the provisions
of applicable Cayman Islands law that authorizes or contemplates additional indemnification by agreement, or the corresponding provision
of any amendment to or replacement of applicable Cayman Islands law, and (b) to the fullest extent authorized or permitted by any amendments
to or replacements of applicable Cayman Islands law adopted after the date of this Agreement that increase the extent to which a company
may indemnify its officers and directors.

3. **INDEMNITY IN THIRD-PARTY PROCEEDINGS**. To the fullest extent permitted by applicable law and the
Charter, the Company shall indemnify, hold harmless and exonerate Indemnitee in accordance with the provisions of this <u>Section 3</u> if Indemnitee was, is, or is threatened to be made, a party to or a participant (as a witness, deponent or otherwise) in any Proceeding,
other than a Proceeding by or in the right of the Company to procure a judgment in its favor by reason of Indemnitee's Corporate
Status. Pursuant to this <u>Section 3</u>, Indemnitee shall be indemnified, held harmless and exonerated against all Expenses, judgments,
liabilities, fines, penalties and amounts paid in settlement (including all interest, assessments and other charges paid or payable in
connection with or in respect of such Expenses, judgments, fines, penalties and amounts paid in settlement) actually, and reasonably incurred
by Indemnitee or on his or her behalf in connection with such Proceeding or any claim, issue or matter therein, if Indemnitee acted in
good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the Company and, in the case
of a criminal Proceeding, had no reasonable cause to believe that his or her conduct was unlawful; *provided*, in no event shall
Indemnitee be entitled to be indemnified, held harmless or advanced any amounts hereunder in respect of any Expenses, judgments, liabilities,
fines, penalties and amounts paid in settlement (if any) that Indemnitee may incur by reason of his or her own actual fraud or willful
default or willful neglect. Indemnitee shall not be found to have committed actual fraud, willful default or willful neglect for any purpose
of this Agreement unless or until a court of competent jurisdiction shall have made a finding to that effect.

4. **INDEMNITY IN PROCEEDINGS BY OR IN THE RIGHT OF THE COMPANY**. To the fullest extent permitted by
applicable law and the Charter, the Company shall indemnify, hold harmless and exonerate Indemnitee in accordance with the provisions
of this <u>Section 4</u> if Indemnitee was, is, or is threatened to be made, a party to or a participant (as a witness, deponent or otherwise)
in any Proceeding by or in the right of the Company to procure a judgment in its favor by reason of Indemnitee's Corporate Status.
Pursuant to this <u>Section 4,</u> Indemnitee shall be indemnified, held harmless and exonerated against all Expenses actually and reasonably
incurred by him or her or on his or her behalf in connection with such Proceeding or any claim, issue or matter therein, if Indemnitee
acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the Company. No indemnification,
hold harmless or exoneration for Expenses shall be made under this <u>Section 4</u> in respect of any claim, issue or matter as to which
Indemnitee shall have been finally adjudged by a court to be liable to the Company, unless and only to the extent that any court in which
the Proceeding was brought or the Cayman Court shall determine upon application that, despite the adjudication of liability but in view
of all the circumstances of the case, Indemnitee is fairly and reasonably entitled to indemnification, to be held harmless or to exoneration.

5. **INDEMNIFICATION FOR EXPENSES OF A PARTY WHO IS WHOLLY OR PARTLY SUCCESSFUL**. Notwithstanding any
other provisions of this Agreement except for <u>Section 27</u>, to the extent that Indemnitee was or is, by reason of Indemnitee's
Corporate Status, a party to (or a participant in) and is successful, on the merits or otherwise, in any Proceeding or in defense of any
claim, issue or matter therein, in whole or in part, the Company shall, to the fullest extent permitted by applicable law and the Charter,
indemnify, hold harmless and exonerate Indemnitee against all Expenses actually and reasonably incurred by him or her in connection therewith.
If Indemnitee is not wholly successful in such Proceeding but is successful, on the merits or otherwise, as to one or more but less than
all claims, issues or matters in such Proceeding, the Company shall, to the fullest extent permitted by applicable law and the Charter,
indemnify, hold harmless and exonerate Indemnitee against all Expenses actually and reasonably incurred by him or her or on his or her
behalf in connection with each successfully resolved claim, issue or matter. If Indemnitee is not wholly successful in such Proceeding,
the Company also shall, to the fullest extent permitted by applicable law and the Charter, indemnify, hold harmless and exonerate Indemnitee
against all Expenses reasonably incurred in connection with a claim, issue or matter related to any claim, issue, or matter on which Indemnitee
was successful. For purposes of this <u>Section 5</u> and without limitation, the termination of any claim, issue or matter in such a
Proceeding by dismissal, with or without prejudice, shall be deemed to be a successful result as to such claim, issue or matter.

6. **INDEMNIFICATION FOR EXPENSES OF A WITNESS**. Notwithstanding any other provision of this Agreement
except for <u>Section 27</u>, to the extent that Indemnitee is, by reason of his or her Corporate Status, a witness or deponent in any
Proceeding to which Indemnitee is not a party or threatened to be made a party, he or she shall, to the fullest extent permitted by applicable
law and the Charter, be indemnified, held harmless and exonerated against all Expenses actually and reasonably incurred by him or her
or on his or her behalf in connection therewith.

7. **ADDITIONAL INDEMNIFICATION, HOLD HARMLESS AND EXONERATION RIGHTS**. Notwithstanding any limitation
in <u>Sections 3</u>, <u>4</u>, or <u>5</u> and except for <u>Section 27</u>, the Company shall, to the fullest extent permitted by applicable
law and the Charter, indemnify, hold harmless and exonerate Indemnitee if Indemnitee is a party to or threatened to be made a party to
any Proceeding (including a Proceeding by or in the right of the Company to procure a judgment in its favor) against all Expenses, judgments,
fines, penalties and amounts paid in settlement (including all interest, assessments and other charges paid or payable in connection with
or in respect of such Expenses, judgments, fines, penalties and amounts paid in settlement) actually and reasonably incurred by Indemnitee
in connection with the Proceeding. No indemnification, hold harmless or exoneration rights shall be available under this <u>Section 7</u> on account of Indemnitee's conduct which constitutes a breach of Indemnitee's duty of loyalty to the Company or its shareholders
or is an act or omission not in good faith or which involves intentional misconduct or a knowing violation of the law.

8. **CONTRIBUTION IN THE EVENT OF JOINT LIABILITY**.

&nbsp;&nbsp;&nbsp;&nbsp;(a) To the fullest extent permissible under applicable law, if
the indemnification, hold harmless and/or exoneration rights provided for in this Agreement are unavailable to Indemnitee in whole or
in part for any reason whatsoever, the Company, in lieu of indemnifying, holding harmless or exonerating Indemnitee, shall pay, in the
first instance, the entire amount incurred by Indemnitee, whether for judgments, liabilities, fines, penalties, amounts paid or to be
paid in settlement and/or for Expenses, in connection with any Proceeding without requiring Indemnitee to contribute to such payment,
and the Company hereby waives and relinquishes any right of contribution it may have at any time against Indemnitee.

&nbsp;&nbsp;&nbsp;&nbsp;(b) The Company shall not enter into any settlement of any Proceeding
in which the Company is jointly liable with Indemnitee (or would be if joined in such Proceeding) unless such settlement provides for
a full and final release of all claims asserted against Indemnitee.

&nbsp;&nbsp;&nbsp;&nbsp;(c) The Company hereby agrees to fully indemnify, hold harmless
and exonerate Indemnitee from any claims for contribution which may be brought by officers, directors or employees of the Company other
than Indemnitee who may be jointly liable with Indemnitee.

9. **EXCLUSIONS**. Notwithstanding any provision in this Agreement except for <u>Section 27</u>, the Company
shall not be obligated under this Agreement to make any indemnification, advance expenses, hold harmless or exoneration payment in connection
with any claim made against Indemnitee:

&nbsp;&nbsp;&nbsp;&nbsp;(a) for which payment has actually been received by or on behalf
of Indemnitee under any insurance policy or other indemnity or advancement provision or otherwise, except with respect to any excess
beyond the amount actually received under any insurance policy, contract, agreement, other indemnity or advancement provision or otherwise;

&nbsp;&nbsp;&nbsp;&nbsp;(b) for an accounting of profits made from the purchase and sale
(or sale and purchase) by Indemnitee of securities of the Company within the meaning of Section 16(b) of the Exchange Act (or any successor
rule) or similar provisions of state statutory law or common law; or

&nbsp;&nbsp;&nbsp;&nbsp;(c) except as otherwise provided in <u>Sections 14(e)-(f)</u> hereof, prior to a Change in Control, in connection with any Proceeding (or any part of any Proceeding) initiated by Indemnitee, including
any Proceeding (or any part of any Proceeding) initiated by Indemnitee against the Company or its directors, officers, employees or other
indemnitees, unless (i) the Board authorized the Proceeding (or any part of any Proceeding) prior to its initiation or (ii) the Company
provides the indemnification, hold harmless or exoneration payment, in its sole discretion, pursuant to the powers vested in the Company
under applicable law. Indemnitee shall seek payments or advances from the Company only to the extent that such payments or advances are
unavailable from any insurance policy of the Company covering Indemnitee.

10. **ADVANCES OF EXPENSES; DEFENSE OF CLAIM**.

&nbsp;&nbsp;&nbsp;&nbsp;(a) Notwithstanding any provision of this Agreement to the contrary
except for <u>Section 27</u>, and to the fullest extent not prohibited by applicable law and the Charter, the Company shall pay the Expenses
incurred by Indemnitee (or reasonably expected by Indemnitee to be incurred by Indemnitee within three months) in connection with any
Proceeding within ten (10) days after the receipt by the Company of a statement or statements requesting such advances from time to time,
prior to the final disposition of any Proceeding. Advances shall, to the fullest extent permitted by law, be unsecured and interest free.
Advances shall, to the fullest extent permitted by law, be made without regard to Indemnitee's ability to repay the Expenses and
without regard to Indemnitee's ultimate entitlement to be indemnified, held harmless or exonerated under the other provisions of
this Agreement. Advances shall include any and all reasonable Expenses incurred pursuing a Proceeding to enforce this right of advancement,
including Expenses incurred preparing and forwarding statements to the Company to support the advances claimed. To the fullest extent
required by applicable law, such payments of Expenses in advance of the final disposition of the Proceeding shall be made only upon the
Company's receipt of an undertaking, by or on behalf of Indemnitee, to repay the advanced amounts to the extent that it is ultimately
determined that Indemnitee is not entitled to be indemnified, held harmless or exonerated by the Company under the provisions of this
Agreement, the Charter, applicable law or otherwise. If it shall be determined by a final judgment or other final adjudication that Indemnitee
was not so entitled to indemnification, any advancement shall be returned to the Company (without interest) by the Indemnitee. This <u>Section 10(a)</u> shall not apply to any claim made by Indemnitee for which an indemnification, hold harmless or exoneration payment is excluded
pursuant to <u>Section 9</u>.

&nbsp;&nbsp;&nbsp;&nbsp;(b) The Company will be entitled to participate in the Proceeding
at its own expense.

&nbsp;&nbsp;&nbsp;&nbsp;(c) The Company shall not settle any action, claim or Proceeding
(in whole or in part) which would impose any Expense, judgment, fine, penalty or limitation on Indemnitee without Indemnitee's
prior written consent.

11. **PROCEDURE FOR NOTIFICATION AND APPLICATION FOR INDEMNIFICATION**.

&nbsp;&nbsp;&nbsp;&nbsp;(a) Indemnitee agrees to notify promptly the Company in writing
upon being served with any summons, citation, subpoena, complaint, indictment, information or other document relating to any Proceeding,
claim, issue or matter therein which may be subject to indemnification, hold harmless or exoneration rights, or advancement of Expenses
covered hereunder. The failure of Indemnitee to so notify the Company shall not relieve the Company of any obligation which it may have
to Indemnitee under this Agreement, or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Indemnitee may deliver to the Company a written application
to indemnify, hold harmless or exonerate Indemnitee in accordance with this Agreement. Such application(s) may be delivered from time
to time and at such time(s) as Indemnitee deems appropriate in his or her sole discretion. Following such a written application for indemnification
by Indemnitee, Indemnitee's entitlement to indemnification shall be determined according to <u>Section 12(a)</u> of this Agreement.

12. **PROCEDURE UPON APPLICATION FOR INDEMNIFICATION**.

&nbsp;&nbsp;&nbsp;&nbsp;(a) A determination, if required by applicable law, with respect
to Indemnitee's entitlement to indemnification shall be made in the specific case by one of the following methods: (i) if no Change
in Control has occurred, (x) by a majority vote of the Disinterested Directors, even though less than a quorum of the Board, (y) by a
committee of Disinterested Directors, even though less than a quorum of the Board, or (z) if there are no Disinterested Directors, or
if such Disinterested Directors so direct, by Independent Counsel in a written opinion to the Board, a copy of which shall be delivered
to Indemnitee; or (ii) if a Change in Control has occurred, by Independent Counsel in a written opinion to the Board, a copy of which
shall be delivered to Indemnitee. The Company promptly will advise Indemnitee in writing with respect to any determination that Indemnitee
is or is not entitled to indemnification, including a description of any reason or basis for which indemnification has been denied. If
it is so determined that Indemnitee is entitled to indemnification, payment to Indemnitee shall be made within ten (10) days after such
determination. Indemnitee shall reasonably cooperate with the person, persons or entity making such determination with respect to Indemnitee's
entitlement to indemnification, including providing to such person, persons or entity upon reasonable advance request any documentation
or information which is not privileged or otherwise protected from disclosure and which is reasonably available to Indemnitee and reasonably
necessary to such determination. Any costs or Expenses (including reasonable attorneys' fees and disbursements) incurred by Indemnitee
in so cooperating with the person, persons or entity making such determination shall be borne by the Company (irrespective of the determination
as to Indemnitee's entitlement to indemnification) and the Company hereby agrees to indemnify and hold Indemnitee harmless therefrom.

&nbsp;&nbsp;&nbsp;&nbsp;(b) In the event the determination of entitlement to indemnification
is to be made by Independent Counsel pursuant to <u>Section 12(a)</u> hereof, the Independent Counsel shall be selected as provided in
this <u>Section 12(b)</u>. The Independent Counsel shall be selected by Indemnitee (unless Indemnitee shall request that such selection
be made by the Board), and Indemnitee shall give written notice to the Company advising it of the identity of the Independent Counsel
so selected and certifying that the Independent Counsel so selected meets the requirements of "Independent Counsel" as defined
in <u>Section 2</u> of this Agreement. If the Independent Counsel is selected by the Board, the Company shall give written notice to
Indemnitee advising him or her of the identity of the Independent Counsel so selected and certifying that the Independent Counsel so
selected meets the requirements of "Independent Counsel" as defined in <u>Section 2</u> of this Agreement. In either event,
Indemnitee or the Company, as the case may be, may, within ten (10) days after such written notice of selection shall have been received,
deliver to the Company or to Indemnitee, as the case may be, a written objection to such selection; provided, however, that such objection
may be asserted only on the ground that the Independent Counsel so selected does not meet the requirements of "Independent Counsel"
as defined in <u>Section 2</u> of this Agreement, and the objection shall set forth with particularity the factual basis of such assertion.
Absent a proper and timely objection, the person so selected shall act as Independent Counsel. If such written objection is so made and
substantiated, the Independent Counsel so selected may not serve as Independent Counsel unless and until such objection is withdrawn
or a court of competent jurisdiction has determined that such objection is without merit. If, within twenty (20) days after submission
by Indemnitee of a written request for indemnification pursuant to <u>Section 11(a)</u> hereof, no Independent Counsel shall have been
selected and not objected to, either the Company or Indemnitee may petition the Cayman Court for resolution of any objection which shall
have been made by the Company or Indemnitee to the other's selection of Independent Counsel and/or for the appointment as Independent
Counsel of a person selected by the Cayman Court, and the person with respect to whom all objections are so resolved or the person so
appointed shall act as Independent Counsel under <u>Section 12(a)</u> hereof. Upon the due commencement of any judicial proceeding or
arbitration pursuant to <u>Section 14(a)</u> of this Agreement, Independent Counsel shall be discharged and relieved of any further responsibility
in such capacity (subject to the applicable standards of professional conduct then prevailing).

&nbsp;&nbsp;&nbsp;&nbsp;(c) The Company agrees to pay the reasonable fees and expenses
of Independent Counsel and to fully indemnify and hold harmless such Independent Counsel against any and all Expenses, claims, liabilities
and damages arising out of or relating to this Agreement or its engagement pursuant hereto.

13. **PRESUMPTIONS AND EFFECT OF CERTAIN PROCEEDINGS**.

&nbsp;&nbsp;&nbsp;&nbsp;(a) In making a determination with respect to entitlement to
indemnification hereunder, the person, persons or entity making such determination shall presume that Indemnitee is entitled to indemnification
under this Agreement if Indemnitee has submitted a request for indemnification in accordance with <u>Section 11(b)</u> of this Agreement,
and the Company shall have the burden of proof to overcome that presumption in connection with the making by any person, persons or entity
of any determination contrary to that presumption. Neither the failure of the Company (including by the Disinterested Directors or Independent
Counsel) to have made a determination prior to the commencement of any action pursuant to this Agreement that indemnification is proper
in the circumstances because Indemnitee has met the applicable standard of conduct, nor an actual determination by the Company (including
by the Disinterested Directors or Independent Counsel) that Indemnitee has not met such applicable standard of conduct, shall be a defense
to the action or create a presumption that Indemnitee has not met the applicable standard of conduct.

&nbsp;&nbsp;&nbsp;&nbsp;(b) If the person, persons or entity empowered or selected under <u>Section 12</u> of this Agreement to determine whether Indemnitee is entitled to indemnification shall not have made a determination
within thirty (30) days after receipt by the Company of the request therefor, the requisite determination of entitlement to indemnification
shall, to the fullest extent permitted by law, be deemed to have been made and Indemnitee shall be entitled to such indemnification,
absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee's statement
not materially misleading, in connection with the request for indemnification, or (ii) a final judicial determination that any or all
such indemnification is expressly prohibited under applicable law or the Charter; provided, however, that such 30-day period may be extended
for a reasonable time, not to exceed an additional fifteen (15) days, if the person, persons or entity making the determination with
respect to entitlement to indemnification in good faith requires such additional time for the obtaining or evaluating of documentation
and/or information relating thereto.

&nbsp;&nbsp;&nbsp;&nbsp;(c) The termination of any Proceeding or of any claim, issue
or matter therein, by judgment, order, settlement or conviction, or upon a plea of nolo contendere or its equivalent, shall not (except
as otherwise expressly provided in this Agreement) of itself adversely affect the right of Indemnitee to indemnification or create a
presumption that Indemnitee did not act in good faith and in a manner which Indemnitee reasonably believed to be in or not opposed to
the best interests of the Company or, with respect to any criminal Proceeding, that Indemnitee had reasonable cause to believe that Indemnitee's
conduct was unlawful.

&nbsp;&nbsp;&nbsp;&nbsp;(d) For purposes of any determination of good faith, Indemnitee
shall be deemed to have acted in good faith if Indemnitee's action is based on the records or books of account of the Enterprise,
including financial statements, or on information supplied to Indemnitee by the directors, trustees, general partners, managers or managing
members of the Enterprise in the course of their duties, or on the advice of legal counsel for the Enterprise, its Board, any committee
of the Board or any director, trustee, general partner, manager or managing member of the Enterprise, or on information or records given
or reports made to the Enterprise, its Board, any committee of the Board or any director, trustee, general partner, manager or managing
member of the Enterprise, by an independent certified public accountant or by an appraiser or other expert selected by the Enterprise,
its Board, any committee of the Board or any director, trustee, general partner, manager or managing member. The provisions of this <u>Section 13(d)</u> shall not be deemed to be exclusive or to limit in any way the other circumstances in which Indemnitee may be deemed or found
to have met the applicable standard of conduct set forth in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;(e) The knowledge and/or actions, or failure to act, of any other
director, officer, trustee, partner, manager, managing member, fiduciary, agent or employee of the Enterprise shall not be imputed to
Indemnitee for purposes of determining the right to indemnification under this Agreement.

14. **REMEDIES OF INDEMNITEE**.

&nbsp;&nbsp;&nbsp;&nbsp;(a) In the event that (i) a determination is made pursuant to <u>Section 12</u> of this Agreement that Indemnitee is not entitled to indemnification under this Agreement, (ii) advancement of Expenses,
to the fullest extent permitted by applicable law, is not timely made pursuant to <u>Section 10</u> of this Agreement, (iii) no determination
of entitlement to indemnification shall have been made pursuant to <u>Section 12(a)</u> of this Agreement within thirty (30) days after
receipt by the Company of the request for indemnification, (iv) payment of indemnification is not made pursuant to <u>Sections 5</u>, <u>6</u>, <u>7</u> or the last sentence of <u>Section 12(a)</u> of this Agreement within ten (10) days after receipt by the Company of
a written request therefor, (v) a contribution payment is not made in a timely manner pursuant to <u>Section 8</u> of this Agreement,
(vi) payment of indemnification pursuant to <u>Sections 3</u> or <u>4</u> of this Agreement is not made within ten (10) days after a
determination has been made that Indemnitee is entitled to indemnification, or (vii) payment to Indemnitee pursuant to any hold harmless
or exoneration rights under this Agreement or otherwise is not made within ten (10) days after receipt by the Company of a written request
therefor, Indemnitee shall be entitled to an adjudication by the Cayman Court to such indemnification, hold harmless, exoneration, contribution
or advancement rights. Alternatively, Indemnitee, at his or her option, may seek an award in arbitration to be conducted by a single
arbitrator pursuant to the Commercial Arbitration Rules and Mediation Procedures of the American Arbitration Association. Except as set
forth herein, the provisions of Cayman Islands law (without regard to its conflict of laws rules) shall apply to any such arbitration.
The Company shall not oppose Indemnitee's right to seek any such adjudication or award in arbitration.

&nbsp;&nbsp;&nbsp;&nbsp;(b) In the event that a determination shall have been made pursuant
to <u>Section 12(a)</u> of this Agreement that Indemnitee is not entitled to indemnification, any judicial proceeding or arbitration
commenced pursuant to this <u>Section 14</u> shall be conducted in all respects as a de novo trial, or arbitration, on the merits and
Indemnitee shall not be prejudiced by reason of that adverse determination. In any judicial proceeding or arbitration commenced pursuant
to this <u>Section 14</u>, Indemnitee shall be presumed to be entitled to be indemnified, held harmless, exonerated to receive advances
of Expenses under this Agreement and the Company shall have the burden of proving Indemnitee is not entitled to be indemnified, held
harmless, exonerated and to receive advances of Expenses, as the case may be, and the Company may not refer to or introduce into evidence
any determination pursuant to <u>Section 12(a)</u> of this Agreement adverse to Indemnitee for any purpose. If Indemnitee commences a
judicial proceeding or arbitration pursuant to this <u>Section 14</u>, Indemnitee shall not be required to reimburse the Company for
any advances pursuant to <u>Section 10</u> until a final determination is made with respect to Indemnitee's entitlement to indemnification
(as to which all rights of appeal have been exhausted or lapsed).

&nbsp;&nbsp;&nbsp;&nbsp;(c) If a determination shall have been made pursuant to <u>Section 12(a)</u> of this Agreement that Indemnitee is entitled to indemnification, the Company shall be bound by such determination in any judicial
proceeding or arbitration commenced pursuant to this <u>Section 14</u>, absent (i) a misstatement by Indemnitee of a material fact, or
an omission of a material fact necessary to make Indemnitee's statement not materially misleading, in connection with the request
for indemnification, or (ii) a prohibition of such indemnification under applicable law or the Charter.

&nbsp;&nbsp;&nbsp;&nbsp;(d) The Company shall be precluded from asserting in any judicial
proceeding or arbitration commenced pursuant to this <u>Section 14</u> that the procedures and presumptions of this Agreement are not
valid, binding and enforceable and shall stipulate in any such court or before any such arbitrator that the Company is bound by all the
provisions of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;(e) The Company shall indemnify and hold harmless Indemnitee
to the fullest extent permitted by applicable law or the Charter against all Expenses and, if requested by Indemnitee, shall (within
ten (10) days after the Company's receipt of such written request) pay to Indemnitee, to the fullest extent permitted by applicable
law or the Charter, such Expenses which are incurred by Indemnitee in connection with any judicial proceeding or arbitration brought
by Indemnitee (i) to enforce his or her rights under, or to recover damages for breach of, this Agreement or any other indemnification,
hold harmless, exoneration, advancement or contribution agreement or provision of the Charter now or hereafter in effect; or (ii) for
recovery or advances under any insurance policy maintained by any person for the benefit of Indemnitee, regardless of the outcome and
whether Indemnitee ultimately is determined to be entitled to such indemnification, hold harmless or exoneration right, advancement,
contribution or insurance recovery, as the case may be (unless such judicial proceeding or arbitration was not brought by Indemnitee
in good faith).

&nbsp;&nbsp;&nbsp;&nbsp;(f) Interest shall be paid by the Company to Indemnitee at the
legal rate under New York law for amounts which the Company indemnifies, holds harmless or exonerates, or is obliged to indemnify, hold
harmless or exonerate for the period commencing with the date on which Indemnitee requests indemnification, to be held harmless, exonerated,
contribution, reimbursement or advancement of any Expenses and ending with the date on which such payment is made to Indemnitee by the
Company.

15. **SECURITY**. Notwithstanding anything herein to the contrary, but subject to <u>Section 27</u>, to
the extent requested by Indemnitee and approved by the Board, the Company may at any time and from time to time provide security to Indemnitee
for the Company's obligations hereunder through an irrevocable bank line of credit, funded trust or other collateral. Any such security,
once provided to Indemnitee, may not be revoked or released without the prior written consent of Indemnitee.

16. **NON-EXCLUSIVITY; SURVIVAL OF RIGHTS; INSURANCE; SUBROGATION**.

&nbsp;&nbsp;&nbsp;&nbsp;(a) The rights of Indemnitee as provided by this Agreement shall not be deemed exclusive of any other rights
to which Indemnitee may at any time be entitled under applicable law, the Charter, any agreement, a vote of shareholders or a resolution
of directors, or otherwise. No amendment, alteration or repeal of this Agreement or of any provision hereof shall limit or restrict any
right of Indemnitee under this Agreement in respect of any Proceeding (regardless of when such Proceeding is first threatened, commenced
or completed) or claim, issue or matter therein arising out of, or related to, any action taken or omitted by such Indemnitee in his or
her Corporate Status prior to such amendment, alteration or repeal. To the extent that a change in applicable law, whether by statute
or judicial decision, permits greater indemnification, hold harmless or exoneration rights or advancement of Expenses than would be afforded
currently under the Charter or this Agreement, then this Agreement (without any further action by the parties hereto) shall automatically
be deemed to be amended to require that the Company indemnify Indemnitee to the fullest extent permitted by law. No right or remedy herein
conferred is intended to be exclusive of any other right or remedy, and every other right and remedy shall be cumulative and in addition
to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment
of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other right or remedy.

&nbsp;&nbsp;&nbsp;&nbsp;(b) The Companies Act and the Charter permit the Company to purchase and maintain insurance or furnish similar
protection or make other arrangements including, but not limited to, providing a trust fund, letter of credit, or surety bond ("  ***Indemnification Arrangements***") on behalf of Indemnitee against any liability asserted against him or her or incurred by or on behalf of
him or her or in such capacity as a director, officer, employee or agent of the Company, or arising out of his or her status as such,
whether or not the Company would have the power to indemnify him or her against such liability under the provisions of this Agreement
or under the Companies Act, as it may then be in effect. The purchase, establishment, and maintenance of any such Indemnification Arrangement
shall not in any way limit or affect the rights and obligations of the Company or of Indemnitee under this Agreement except as expressly
provided herein, and the execution and delivery of this Agreement by the Company and Indemnitee shall not in any way limit or affect the
rights and obligations of the Company or the other party or parties thereto under any such Indemnification Arrangement.

&nbsp;&nbsp;&nbsp;&nbsp;(c) To the extent that the Company maintains an insurance policy or policies providing liability insurance
for directors, officers, trustees, partners, managing members, fiduciaries, employees, or agents of the Company or of any other Enterprise
which such person serves at the request of the Company, Indemnitee shall be covered by such policy or policies in accordance with its
or their terms to the maximum extent of the coverage available for any such director, officer, trustee, partner, managing member, fiduciary,
employee or agent under such policy or policies. If, at the time the Company receives notice from any source of a Proceeding as to which
Indemnitee is a party or a participant (as a witness, deponent or otherwise), the Company has director and officer liability insurance
in effect, the Company shall give prompt notice of such Proceeding to the insurers in accordance with the procedures set forth in the
respective policies. The Company shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of Indemnitee,
all amounts payable as a result of such Proceeding in accordance with the terms of such policies.

&nbsp;&nbsp;&nbsp;&nbsp;(d) In the event of any payment under this Agreement, the Company, to the fullest extent permitted by law,
shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee, who shall execute all papers required
and take all action necessary to secure such rights, including execution of such documents as are necessary to enable the Company to bring
suit to enforce such rights.

&nbsp;&nbsp;&nbsp;&nbsp;(e) The Company's obligation to indemnify, hold harmless, exonerate or advance Expenses hereunder to
Indemnitee who is or was serving at the request of the Company as a director, officer, trustee, partner, managing member, fiduciary, employee
or agent of any other Enterprise shall be reduced by any amount Indemnitee has actually received as indemnification, hold harmless or
exoneration payments or advancement of expenses from such Enterprise. Notwithstanding any other provision of this Agreement to the contrary
except for <u>Section 27</u>, (i) Indemnitee shall have no obligation to reduce, offset, allocate, pursue or apportion any indemnification,
hold harmless, exoneration, advancement, contribution or insurance coverage among multiple parties possessing such duties to Indemnitee
prior to the Company's satisfaction and performance of all its obligations under this Agreement, and (ii) the Company shall perform
fully its obligations under this Agreement without regard to whether Indemnitee holds, may pursue or has pursued any indemnification,
advancement, hold harmless, exoneration, contribution or insurance coverage rights against any person or entity other than the Company.

&nbsp;&nbsp;&nbsp;&nbsp;(f) To the extent Indemnitee has rights to indemnification, advancement of expenses and/or insurance provided
by the Sponsor or its affiliates (other than the Company) as applicable, (i) the Company shall be the indemnitor of first resort (*i.e.*,
that its obligations to Indemnitee are primary and any obligation of the Sponsor or its respective affiliates, as applicable, to advance
expenses or to provide indemnification for the same expenses or liabilities incurred by Indemnitee are secondary), (ii) the Company shall
be required to advance the full amount of expenses incurred by Indemnitee and shall be liable for the full amount of all claims, liabilities,
damages, losses, costs and expenses (including amounts paid in satisfaction of judgments, in compromises and settlements, as fines and
penalties and legal or other costs and reasonable expenses of investigating or defending against any claim or alleged claim) to the extent
legally permitted and as required by the terms of this Agreement, the Company's organizational documents or other agreement, without
regard to any rights Indemnitee may have against the Sponsor or its affiliates, as applicable, and (iii) the Company irrevocably waives,
relinquishes and releases the Sponsor and its affiliates, as applicable, from any and all claims against them for contribution, subrogation
or any other recovery of any kind in respect thereof. No advancement or payment by the Sponsor or its affiliates, as applicable, on behalf
of Indemnitee with respect to any claim for which Indemnitee has sought indemnification from the Company shall affect the foregoing, and
the Sponsor and its affiliates, as applicable, shall have a right of contribution and be subrogated to the extent of such advancement
or payment to all of the rights of recovery of Indemnitee against the Company.

17. **DURATION OF AGREEMENT**. All agreements and obligations of the Company contained herein shall continue
during the period Indemnitee serves as a director or officer of the Company or as a director, officer, trustee, partner, managing member,
fiduciary, employee or agent of any other corporation, partnership, joint venture, trust, employee benefit plan or other Enterprise which
Indemnitee serves at the request of the Company and shall continue thereafter so long as Indemnitee shall be subject to any possible Proceeding
(including any rights of appeal thereto and any Proceeding commenced by Indemnitee pursuant to <u>Section 14</u> of this Agreement) by
reason of his or her Corporate Status, whether or not he is acting in any such capacity at the time any liability or expense is incurred
for which indemnification or advancement can be provided under this Agreement.

18. **SEVERABILITY**. If any provision or provisions of this Agreement shall be held to be invalid, illegal
or unenforceable for any reason whatsoever: (a) the validity, legality and enforceability of the remaining provisions of this Agreement
(including, without limitation, each portion of any Section, paragraph or sentence of this Agreement containing any such provision held
to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall not in any way be affected or impaired
thereby and shall remain enforceable to the fullest extent permitted by law; (b) such provision or provisions shall be deemed reformed
to the extent necessary to conform to applicable law and to give the maximum effect to the intent of the parties hereto; and (c) to the
fullest extent possible, the provisions of this Agreement (including, without limitation, each portion of any Section, paragraph or sentence
of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable)
shall be construed so as to give effect to the intent manifested thereby.

19. **ENFORCEMENT AND BINDING EFFECT**.

&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company expressly confirms and agrees that it has entered into this Agreement and assumed the obligations
imposed on it hereby in order to induce Indemnitee to serve as a director, officer or key employee of the Company, and the Company acknowledges
that Indemnitee is relying upon this Agreement in serving as a director, officer or key employee of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Without limiting any of the rights of Indemnitee under the Charter as they may be amended from time to
time, this Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes
all prior agreements and understandings, oral, written and implied, between the parties hereto with respect to the subject matter hereof.

&nbsp;&nbsp;&nbsp;&nbsp;(c) The indemnification, hold harmless, exoneration and advancement of expenses rights provided by or granted
pursuant to this Agreement shall be binding upon and be enforceable by the parties hereto and their respective successors and assigns
(including any direct or indirect successor by purchase, merger, consolidation or otherwise to all or substantially all of the business
or assets of the Company), shall continue as to an Indemnitee who has ceased to be a director, officer, employee or agent of the Company
or director or officer of any other Enterprise at the Company's request, and shall inure to the benefit of Indemnitee and his or
her spouse, assigns, heirs, devisees, executors and administrators and other legal representatives.

&nbsp;&nbsp;&nbsp;&nbsp;(d) The Company shall require and cause any successor (whether direct or indirect by purchase, merger, consolidation
or otherwise) to all, substantially all or a substantial part, of the business and/or assets of the Company, by written agreement in form
and substance satisfactory to Indemnitee, expressly to assume and agree to perform this Agreement in the same manner and to the same extent
that the Company would be required to perform if no such succession had taken place.

&nbsp;&nbsp;&nbsp;&nbsp;(e) The Company and Indemnitee agree herein that a monetary remedy for breach of this Agreement, at some later
date, may be inadequate, impracticable and difficult of proof, and further agree that such breach may cause Indemnitee irreparable harm.
Accordingly, the parties hereto agree that Indemnitee may, to the fullest extent permitted by law, enforce this Agreement by seeking,
among other things, injunctive relief and/or specific performance hereof, without any necessity of showing actual damage or irreparable
harm and that by seeking injunctive relief and/or specific performance, Indemnitee shall not be precluded from seeking or obtaining any
other relief to which he or she may be entitled. The Company and Indemnitee further agree that Indemnitee shall, to the fullest extent
permitted by law, be entitled to such specific performance and injunctive relief, including temporary restraining orders, preliminary
injunctions and permanent injunctions, without the necessity of posting bonds or other undertaking in connection therewith. The Company
acknowledges that in the absence of a waiver, a bond or undertaking may be required of Indemnitee by a court of competent jurisdiction,
and the Company hereby waives any such requirement of such a bond or undertaking to the fullest extent permitted by law.

20. **MODIFICATION AND WAIVER**. No supplement, modification or amendment of this Agreement shall be binding
unless executed in writing by the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute
a waiver of any other provisions of this Agreement nor shall any waiver constitute a continuing waiver.

21. **NOTICES**. All notices, requests, demands and other communications under this Agreement shall be
in writing and shall be deemed to have been duly given (i) if delivered by hand and receipted for by the party to whom said notice or
other communication shall have been directed, (ii) mailed by certified or registered mail with postage prepaid, on the third (3rd) business
day after the date on which it is so mailed, or (iii) if by electronic mail, on the first business day after the date on which it is so
emailed:

&nbsp;&nbsp;&nbsp;&nbsp;(a) If to Indemnitee, at the address indicated on the signature page of this Agreement, or such other address
as Indemnitee shall provide in writing to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;(b) If to the Company, to:

Helix Acquisition Corp. III

c/o Cormorant Asset Management, LP

200 Clarendon Street, 52<sup>nd</sup> Floor

Boston, MA 02116

With a copy, which shall not constitute notice, to

White & Case LLP

1221 Avenue of the Americas

New York, NY 10020

Attn: Joel L. Rubinstein, Esq.

or to any other address as may have been furnished to Indemnitee in writing by the Company.

22. **APPLICABLE LAW AND CONSENT TO JURISDICTION**. This Agreement and the legal relations among the parties
shall be governed by, and construed and enforced in accordance with, the laws of the State of New York, without regard to its conflict
of laws rules. Except with respect to any arbitration commenced by Indemnitee pursuant to <u>Section 14(a)</u> of this Agreement, to the
fullest extent permitted by law, the Company and Indemnitee hereby irrevocably and unconditionally: (a) agree that any action or proceeding
arising out of or in connection with this Agreement shall be brought only in the Cayman Court and not in any state or federal court in
the United States of America or any court in any other country; (b) consent to submit to the exclusive jurisdiction of the Cayman Court
for purposes of any action or proceeding arising out of or in connection with this Agreement; (c) waive any objection to the laying of
venue of any such action or proceeding in the Cayman Court; and (d) waive, and agree not to plead or to make, any claim that any such
action or proceeding brought in the Cayman Court has been brought in an improper or inconvenient forum, or is subject (in whole or in
part) to a jury trial.

23. **IDENTICAL COUNTERPARTS**. This Agreement may be executed in one or more counterparts, each of which
shall for all purposes be deemed to be an original but all of which together shall constitute one and the same Agreement. Only one such
counterpart signed by the party against whom enforceability is sought needs to be produced to evidence the existence of this Agreement.

24. **MISCELLANEOUS**. Use of the masculine pronoun shall be deemed to include usage of the feminine pronoun
where appropriate. The headings of the paragraphs of this Agreement are inserted for convenience only and shall not be deemed to constitute
part of this Agreement or to affect the construction thereof.

25. **PERIOD OF LIMITATIONS**. No legal action shall be brought and no cause of action shall be asserted
by or in the right of the Company against Indemnitee, Indemnitee's spouse, heirs, executors or personal or legal representatives
after the expiration of two years from the date of accrual of such cause of action, and any claim or cause of action of the Company shall
be extinguished and deemed released unless asserted by the timely filing of a legal action within such two-year period; provided, however,
that if any shorter period of limitations is otherwise applicable to any such cause of action such shorter period shall govern.

26. **ADDITIONAL ACTS**. If for the validation of any of the provisions in this Agreement any act, resolution,
approval or other procedure is required to the fullest extent permitted by law, the Company undertakes to cause such act, resolution,
approval or other procedure to be affected or adopted in a manner that will enable the Company to fulfill its obligations under this Agreement.

27. **WAIVER OF CLAIMS TO TRUST ACCOUNT**. Notwithstanding anything contained herein to the contrary, Indemnitee
hereby agrees that it does not have any right, title, interest or claim of any kind (each, a "  ***Claim***") in or
to any monies in the trust account established in connection with the Company's initial public offering for the benefit of the Company
and holders of shares issued in such offering (the "  ***Trust Account*** "), and hereby waives any Claim it may have
in the future as a result of, or arising out of, any services provided to the Company and will not seek recourse against such Trust Account
for any reason whatsoever. Accordingly, Indemnitee acknowledges and agrees that any indemnification provided hereto will only be able
to be satisfied by the Company if (i) the Company has sufficient funds outside of the Trust Account to satisfy its obligations hereunder
or (ii) the Company consummates an initial business combination.

28. **MAINTENANCE OF INSURANCE**. The Company shall use commercially reasonable efforts to obtain and maintain
in effect during the entire period for which the Company is obligated to indemnify the Indemnitee under this Agreement, one or more policies
of insurance with reputable insurance companies to provide the officers/directors of the Company with coverage for losses from wrongful
acts and omissions and to ensure the Company's performance of its indemnification obligations under this Agreement. The Indemnitee
shall be covered by such policy or policies in accordance with its or their terms to the maximum extent of the coverage available for
any such director or officer under such policy or policies. In all such insurance policies, the Indemnitee shall be named as an insured
in such a manner as to provide the Indemnitee with the same rights and benefits as are accorded to the most favorably insured of the Company's
directors and officers.

[*Signature Page Follows*]

**IN WITNESS WHEREOF**, the parties hereto have caused this Indemnity Agreement to be signed as of the day and year first above written.

---

| | | |
|:---|:---|:---|
| **HELIX ACQUISITION CORP**. **III** | **HELIX ACQUISITION CORP**. **III** | **HELIX ACQUISITION CORP**. **III** |
| By: | /s/ Bihua Chen | /s/ Bihua Chen |
|  | Name: | Bihua Chen |
|  | Title: | Chairperson and Chief Executive Officer |
| **INDEMNITEE** | **INDEMNITEE** | **INDEMNITEE** |
| By: | /s/ Bihua Chen | /s/ Bihua Chen |
|  | Name: | Bihua Chen |
|  | Address: | c/o Cormorant Asset Management LP |
|  |  | 200 Clarendon Street, 52<sup>nd</sup> Floor |
|  |  | Boston, MA 02116 |

---

[*Signature Page to Indemnity Agreement*]

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**Helix Acquisition Corp. III**

*(Name of Issuer)*

**Class A ordinary shares, $0.0001 par value per share**

*(Title of Class of Securities)*

**G4444S107**

*(CUSIP Number)*

**Helix Holdings III LLC**<br>C/O Cormorant Asset Management, LP<br>200 Clarendon Street, 52nd Floor<br>Boston MA 02116<br>1 (857) 702-0370

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**01/26/2026**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **G4444S107** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Helix Holdings III LLC** | Name of reporting person<br>**Helix Holdings III LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**WC** | Source of funds (See Instructions)<br>**WC** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**CAYMAN ISLANDS** | Citizenship or place of organization<br>**CAYMAN ISLANDS** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**4750000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**4750000.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**4750000.00** | Aggregate amount beneficially owned by each reporting person<br>**4750000.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**21.5%** | Percent of class represented by amount in Row (11)<br>**21.5%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** 1. Helix Holdings III LLC (the "Sponsor") holds (i) 4,252,500 Class B ordinary shares, $0.0001 par value (the "Class B ordinary shares"), of Helix Acquisition Corp. III ("Issuer"), which are convertible into the Issuer's Class A ordinary shares, par value $0.0001 per share (the "Class A ordinary shares"), concurrently with or immediately following the consummation of the Issuer's initial business combination or earlier at the option of the holder on a one-for-one basis, subject to adjustment for share sub-divisions, share capitalizations, reorganizations, recapitalizations and the like, and certain anti-dilution rights and have no expiration date, as described under the heading "Description of Securities--Founder Shares and Private Placement Shares" in the Issuer's prospectus (File No. 291993) (the "Final Prospectus"), and (ii) 497,500 Class A ordinary shares ("Private Placement Shares") acquired pursuant to a Private Placement Shares Purchase Agreement by and between the Sponsor and the Issuer dated January 22, 2026 (the "Private Placement Shares Purchase Agreement"), which was filed as Exhibit 10.4 to the Issuer's Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission on January 27, 2026 (File No. 001-43069) (the "Form 8-K").

2. Helix Holdings III LLC is the record holder of the securities reported herein. Cormorant Private Healthcare Fund VI, LP ("Cormorant Fund VI") and Cormorant Global Healthcare Master Fund, LP, together own 100% of the membership interests in Helix Holdings III LLC. Cormorant Private Healthcare GP VI, LLC ("Cormorant VI GP") and Cormorant Global Healthcare GP, LLC ("Cormorant Global GP") serve as the general partners of Cormorant Fund VI and Cormorant Global Healthcare Master Fund, LP, respectively. Bihua Chen is the managing member of each of Cormorant VI GP and Cormorant Global GP. Accordingly, Ms. Chen has voting and investment discretion with respect to the ordinary shares held of record by Helix Holdings III LLC. Ms. Chen disclaims any beneficial ownership of the securities held by Helix Holdings III LLC other than to the extent of any pecuniary interest she may have therein, directly or indirectly.

3. Based on an aggregate of (i) 17,250,000 Class A ordinary shares outstanding issued in the Issuer's initial public offering (the "Public Shares"), (ii) 497,500 Private Placement Shares  and (iii) 4,312,500 Class B ordinary shares, each as reported by the Issuer in the Form 8-K. In computing the number of shares beneficially owned by a person or entity and the percentage ownership of that person or entity, all Class A ordinary shares issuable upon the conversion of Class B ordinary shares held by such person or entity were deemed outstanding if such securities are currently exercisable, or will become exercisable within 60 days of the date of this report. These shares were not deemed outstanding, however, for the purpose of computing the percentage ownership of any other person or entity.

| **CUSIP No.** | **G4444S107** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Bihua Chen** | Name of reporting person<br>**Bihua Chen** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**5550000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**5550000.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**5550000.00** | Aggregate amount beneficially owned by each reporting person<br>**5550000.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**25.2%** | Percent of class represented by amount in Row (11)<br>**25.2%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Comment for Reporting Person:** (1) The Sponsor holds (i) 4,252,500 Class B ordinary shares of the Issuer, which are convertible into the Issuer's Class A ordinary shares concurrently with or immediately following the consummation of the Issuer's initial business combination or earlier at the option of the holder on a one-for-one basis, subject to adjustment for share sub-divisions, share capitalizations, reorganizations, recapitalizations and the like, and certain anti-dilution rights and have no expiration date, as described under the heading "Description of Securities--Founder Shares and Private Placement Shares" in the Issuer's Final Prospectus, and (ii) 497,500 Private Placement Shares acquired pursuant to a Private Placement Shares Purchase Agreement, which was filed as Exhibit 10.4 to the Form 8-K.

(2) Helix Holdings III LLC is the record holder of 4,750,000 of the securities reported herein. Cormorant Fund VI and Cormorant Global Healthcare Master Fund, LP, together own 100% of the membership interests in Helix Holdings III LLC. Cormorant VI GP and Cormorant Global GP serve as the general partners of Cormorant Fund VI and Cormorant Global Healthcare Master Fund, LP, respectively. Bihua Chen is the managing member of each of Cormorant VI GP and Cormorant Global GP. Accordingly, Ms. Chen has voting and investment discretion with respect to the ordinary shares held of record by Helix Holdings III LLC. Ms. Chen disclaims any beneficial ownership of the securities held by Helix Holdings III LLC other than to the extent of any pecuniary interest she may have therein, directly or indirectly.

(3) Cormorant Global Healthcare Master Fund, LP is the record holder of 800,000 of the securities reported herein. Cormorant Global GP serves as the general partner of Cormorant Global Healthcare Master Fund, LP. Ms. Chen is the managing member of Cormorant Global GP. Accordingly, Ms. Chen has voting and investment discretion with respect to the ordinary shares of record held by Cormorant Global Healthcare Master Fund, LP. Ms. Chen disclaims any beneficial ownership of the securities held by Cormorant Global Healthcare Master Fund, LP other than to the extent of any pecuniary interest she may have therein, directly or indirectly.

(4) Based on an aggregate of (i) 17,250,000 Public Shares, (ii) 497,500 Private Placement Shares and (iii) 4,312,500 Class B ordinary shares, each as reported by the Issuer in the Form 8-K. In computing the number of shares beneficially owned by a person or entity and the percentage ownership of that person or entity, all Class A ordinary shares issuable upon the conversion of Class B ordinary shares held by such person or entity were deemed outstanding if such securities are currently exercisable, or will become exercisable within 60 days of the date of this report. These shares were not deemed outstanding, however, for the purpose of computing the percentage ownership of any other person or entity.

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Class A ordinary shares, $0.0001 par value per share

**(b) Name of Issuer:**
Helix Acquisition Corp. III

**(c) Address of Issuer's Principal Executive Offices:**
C/O Cormorant Asset Management, LP, 200 Clarendon Street, 52nd Floor, Boston, MA, 02116

**Item 4. Purpose of Transaction**

Founder Shares

On November 20, 2025, the Sponsor paid $25,000, or approximately $0.006 per share, to cover certain of the Issuer's offering and formation costs in exchange for 4,312,500 Class B ordinary shares, par value $0.0001 per share, of the Issuer (the "Class B ordinary shares" or the "founder shares"). On December 1, 2025, the Sponsor surrendered 718,750 founder shares to the Issuer for no consideration, resulting in the Sponsor holding a total of 3,593,750 founder shares. On December 4, 2025, the Sponsor transferred 30,000 founder shares to each of the Issuer's nominated independent directors, Mark McKenna and John Schmid, resulting in the Sponsor holding a total of 3,533,750 founder shares. On January 22, 2026, the Issuer effected a share capitalization with respect to the Class B ordinary shares resulting in the issue and allotment of 718,750 Class B ordinary shares to the Sponsor, resulting in the Sponsor holding a total of 4,252,500 founder shares. The founder shares included an aggregate of 562,500 founder shares that were subject to forfeiture to the extent that the underwriters' over-allotment option in connection with the Issuer's initial public offering (the "IPO") was not exercised in full, so that the Sponsor would own, on an as-converted basis, approximately 20% of the Issuer's issued and outstanding shares after the IPO (excluding any public shares purchased by the Sponsor in the IPO and excluding the Private Placement Shares). On January 23, 2026, the underwriters of the IPO exercised their over-allotment option in full and, accordingly, the founder shares are no longer subject to forfeiture. The founder shares will automatically convert into Class A ordinary shares at the time of the Issuer's initial business combination (the "Business Combination") and may be converted at any time prior to the Business Combination, at the option of the holder, on a one-for-one basis, subject to adjustment pursuant to certain anti-dilution rights.

Private Placement Shares

Simultaneously with the closing of the IPO, on January 26, 2026, pursuant to a Private Placement Shares Purchase Agreement (the "Private Placement Shares Purchase Agreement"), the Issuer completed the private sale of 497,500 Class A ordinary shares (the "Private Placement Shares") at a purchase price of $10.00 per Private Placement Share, to the Sponsor, generating gross proceeds to the Issuer of $4,975,000. The Private Placement Shares are identical to the Class A ordinary shares sold in the IPO, except that, so long as they are held by the Sponsor and its permitted transferees: (i) they may not, subject to certain limited exceptions, be transferred, assigned or sold until 30 days after the completion of a Business Combination, (ii) they are entitled to registration rights and (iii) they may not be submitted for redemptions and are not entitled to redemption rights in connection with the completion of a Business Combination or an earlier redemption in connection with shareholder votes to amend the Issuer's amended and restated memorandum and articles of association (the "charter"). For additional information, please see "Letter Agreement" below in this section.

The foregoing description of the Private Placement Shares Purchase Agreement does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the agreement, which is attached as an exhibit hereto and incorporated herein by reference.

Insider Public Shares

Cormorant Global Healthcare Master Fund, LP ("Master Fund") participated in the Issuer's IPO, which closed on January 26, 2026, and acquired 800,000 Class A ordinary shares at $10.00 per share (the "Insider Public Shares"). For additional information regarding the redemption, voting and transfer restrictions to the Insider Public Shares, please see "Letter Agreement" below in this section.

Letter Agreement

Sponsor, the Issuer's officers and directors, including Bihua Chen, and the Issuer entered into a letter agreement dated January 22, 2026 (the "Letter Agreement"), pursuant to which they agreed to certain voting, lock-up, and redemption rights provisions described in more detail below.

Redemption Rights Waiver

Pursuant to the Letter Agreement, Sponsor and Ms. Chen, as applicable, have agreed to (i) waive their redemption rights with respect to their Founder Shares, Private Placement Shares, Insider Public Shares and any other public shares they may acquire during or after the IPO in connection with the completion of the Business Combination, (ii) waive their redemption rights with respect to their Founder Shares, Private Placement Shares, Insider Public Shares and any public shares they may acquire during or after the IPO in connection with a shareholder vote to approve an amendment to the charter (A) to modify the substance or timing of the Issuer's obligation to allow redemption in connection with the Business Combination or to redeem 100% of the Issuer's public shares if the Issuer does not complete the Business Combination within the Issuer's completion window or (B) with respect to any other material provisions relating to shareholders' rights or pre-Business Combination activity, (iii) waive their rights to liquidating distributions from the trust account with respect to their Founder Shares and Private Placement Shares if the Issuer fails to complete the Business Combination within the Issuer's completion window, although Sponsor and Ms. Chen, as applicable, will be entitled to liquidating distributions from the trust account with respect to the Insider Public Shares or any public shares they hold if the Issuer fails to complete the Business Combination within the prescribed time frame and to liquidating distributions from assets outside the trust account, and (iv) not sell any of the Founder Shares, Private Placement Shares, Insider Public Shares or any public shares owned by them to the Issuer in the tender offer undertaken by the Issuer if the Company seeks to consummate a Business Combination by engaging in a tender offer.

Voting Agreement

Further, pursuant to the Letter Agreement, Sponsor and Ms. Chen have agreed to vote any of their Founder Shares, Private Placement Shares, or Insider Public Shares, as applicable, or any public shares purchased during or after the IPO (including in open market and privately-negotiated transactions) in favor of a Business Combination. If the Issuer submits the Business Combination to its public shareholders for a vote, the Issuer will complete the Business Combination only if it is approved by an ordinary resolution under Cayman Islands law, which requires the affirmative vote of at least a majority of the votes cast by the shareholders of the issued shares present in person or represented by proxy and entitled to vote on such matter at a general meeting of the Issuer.

Lock-up Agreement

Further, pursuant to the Letter Agreement, Sponsor and Ms. Chen have agreed that the Founder Shares are not transferable except to certain permitted transferees until the earlier of (A) 180 days after the completion of the Business Combination or (y) the date on which the Issuer consummates a transaction which results in all of its public shareholders having the right to exchange their Class A ordinary shares for cash, securities, or other property. The Sponsor and Ms. Chen have also agreed that the Private Placement Shares are not transferrable except to certain permitted transferees until 30 days after the completion of a Business Combination. Additionally, the Sponsor and Ms. Chen, as applicable, have agreed that they will not, without the prior consent of the IPO underwriter, transfer, enter into an arrangement to transfer or publicly announce an intent to transfer the Founder Shares, Private Placement Shares, Insider Public Shares, or any public shares they hold, except to certain permitted transferees, commencing on the effective date of the underwriting agreement entered in connection with the IPO and ending 180 days after such date.

The foregoing description of the Letter Agreement does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the agreement, which is attached as an exhibit hereto and incorporated herein by reference.

Registration Rights Agreement

In connection with the closing of the IPO, the Issuer entered into a registration rights agreement (the "Registration Rights Agreement") with Sponsor, pursuant to which Sponsor is entitled to make up to three demands, excluding short form demands, that the Issuer register Founder Shares, Private Placement Shares, any ordinary shares held or acquired by the Sponsor prior to the consummation of the Business Combination, and any securities that may be issued as part of working capital loans. In addition, Sponsor has certain "piggy-back" registration rights with respect to registration statements filed subsequent to the Business Combination and rights to require the Issuer to register for resale such securities pursuant to Rule 415 under the Securities Act.

The foregoing description of the Registration Rights Agreement does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the agreement, which is attached as an exhibit hereto and incorporated herein by reference.

Administrative Services Agreement

Sponsor and the Issuer entered into an Administrative Services and Indemnification Agreement dated January 22, 2026 (the "Administrative Services Agreement"), pursuant to which the Issuer agreed to pay Sponsor $6,458 per month for office space, utilities, administrative services and remote support services provided to members of the Issuer's management team. The Issuer will cease paying these monthly fees upon completion of a Business Combination or Issuer's liquidation. Additionally, the Issuer will indemnify the Sponsor, members and managers and representatives of the Sponsor, including Ms. Chen (collectively, "Sponsor Indemnitees") from any claims arising out of or relating to the IPO or the Issuer's operations or conduct of the Issuer's business or any claim against any Sponsor Indemnitees alleging any expressed or implied management or endorsement by Sponsor Indemnitees of any of the Issuer's activities or any express or implied association between Sponsor Indemnitees, on the one hand, and the Issuer or any of its other affiliates, on the other hand. The Administrative Services Agreement provides that the Sponsor Indemnitees cannot access or seek recourse against the funds held in the Issuer's trust account established for the benefit of the Issuer's public shareholders.

Indemnification Agreement

Bihua Chen and Issuer entered into an Indemnification Agreement dated January 22, 2026 (the "Indemnification Agreement"), pursuant to which the Issuer will indemnify Ms. Chen, who serves as a director and an officer of the Issuer, to the fullest extent permitted by applicable law, providing that Ms. Chen has agreed to waive any right, title, interest or claim of any kind in or to any monies in the trust account and to not seek recourse against the trust account for any reason whatsoever.

Promissory Note

On December 5, 2025, the Issuer issued an unsecured promissory note (the "Promissory Note") to the Sponsor, pursuant to which the Issuer may borrow up to an aggregate principal amount of $300,000. The Promissory Note is non-interest bearing and payable on the earlier of (i) June 30, 2026 or (ii) the completion of the IPO. As of the closing of the IPO, the Issuer had $300,000 outstanding under the Promissory Note, which is due on demand.

Related Party Loans

In order to finance transaction costs in connection with an intended Business Combination, Reporting Persons may, but are not obligated to, loan the Issuer funds as may be required on a non-interest basis. If the Issuer completes a Business Combination, it would repay such loaned amounts. In the event that the Business Combination does not close, Issuer may use a portion of the working capital held outside the trust account to repay such loaned amounts but no proceeds from its trust account would be used for such repayment. Up to $1,500,000 of such loans may be convertible into private placement shares of the post business combination entity at a price of $10.00 per share at the option of the lender.

General

The Reporting Persons acquired the securities described in this Schedule 13D for investment purposes and intend to review their investments in the Issuer on a continuing basis. Subject to the terms of the Letter Agreement, any actions the Reporting Persons might undertake may be made at any time and from time to time without prior notice and will be dependent upon the Reporting Persons' review of numerous factors, including, but not limited to: an ongoing evaluation of the Issuer's business, financial condition, operations and prospects; price levels of the Issuer's securities; general market, industry and economic conditions; the relative attractiveness of alternative business and investment opportunities; and other future developments.

Subject to the terms of the Letter Agreement and applicable law, the Reporting Persons may acquire additional securities of the Issuer, or retain or sell all or a portion of the securities then held, in the open market or in privately negotiated transactions, including pursuant to registered transactions pursuant to the Registration Rights Agreement. The purpose of any such acquisition of securities could be to (1) increase the likelihood of obtaining shareholder approval of the Business Combination or (2) satisfy a closing condition in an agreement with a target that requires the Issuer to have a minimum net worth or a certain amount of cash at the closing of the Business Combination, where it appears that such requirement would otherwise not be met. Any such purchases of the Issuer's Class A ordinary shares may result in the completion of the Business Combination that may not otherwise have been possible. In addition, if such purchases are made, the public "float" of the Issuer's Class A ordinary shares may be reduced and the number of beneficial holders of the Issuer's securities may be reduced, which may make it difficult to maintain or obtain the quotation, listing or trading of the Issuer's Class A ordinary shares on a national securities exchange.

In addition, Ms. Chen is the Chief Executive Officer of the Issuer and is the chairperson of the board of directors of the Issuer. As such, Ms. Chen takes and will continue to take, an active role in the Issuer's management and strategic direction, including activities of the sort described in clauses (a) through (j) of Item 4 of Schedule 13D. In light of her responsibilities to the Issuer, Ms. Chen does not anticipate making any disclosures in connection with her participation in the transactions and activities of the Issuer separate and apart from relevant disclosures by the Issuer, unless otherwise required by Schedule 13D. The Sponsor and its representatives may in the future take such actions with respect to their investment in the Issuer as they deem appropriate, including, without limitation, engaging in communications with members of the Issuer's board of directors, members of the Issuer's management and/or other shareholders of the Issuer from time to time with respect to potential Business Combination opportunities and operational, strategic, financial or governance matters, or otherwise work with management and the Issuer's board of directors to identify, evaluate, structure, negotiate, execute or otherwise facilitate a Business Combination, purchasing additional ordinary shares and/or rights, selling some or all of its ordinary shares and/or rights, engaging in pledging, short selling of or any hedging or similar transaction with respect to the ordinary shares, including swaps and other derivative instruments, or changing its intention with respect to any and all matters referred to in Item 4. Among other things, the Sponsor and its representatives may introduce the Issuer to potential candidates for a Business Combination, or propose one or more Business Combinations with potential candidates, which may include candidates that are affiliates of the Reporting Person or in which the Reporting Person otherwise has an equity or other interest. There can be no assurance, however, that any Reporting Person will propose such a transaction or that any such transaction would be successfully implemented.

Other than as described above, the Reporting Persons do not currently have any plans or proposals that relate to, or would result in, any of the matters listed in Items 4(a)-(j) of Schedule 13D, although, depending on the factors discussed herein, the Reporting Persons may change their purpose or formulate different plans or proposals with respect thereto at any time.

**Item 5. Interest in Securities of the Issuer**

**(a)**
The aggregate number and percentage of the Class A ordinary shares beneficially owned by each Reporting Person and, for each Reporting Person, the number of shares as to which there is sole power to vote or to direct the vote, shared power to vote or to direct the vote, sole power to dispose or to direct the disposition, or shared power to dispose or to direct the disposition are set forth on rows 7 through 11 and row 13 of the cover pages of this Schedule 13D and are incorporated herein by reference.

The percentages of the Class A ordinary shares held by the Sponsor and Bihua Chen reported herein are based on an aggregate of 22,060,000 Class A ordinary shares outstanding, which includes: (i) 17,250,000 Class A ordinary shares outstanding issued in the Issuer's IPO, (ii) 497,500 Private Placement Shares, each as reported in the Issuer's Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission on January 27, 2026 (File No. 001-43069), and (iii) 4,252,5000 Class A ordinary shares issuable upon conversion of the Founder Shares.

**(b)**
See Item 5(a).

**(c)**
The Reporting Persons have not effected any transactions in the Issuer's Ordinary Shares during the 60 days preceding the date of this report, except as described in Item 3 and Item 4 of this Schedule 13D, which information is incorporated herein by reference.

**Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.**

Item 4 above summarizes certain provisions of the contracts, arrangements, understandings and relationships among the Reporting Persons with respect to Class A ordinary shares and is incorporated herein by reference. Copies of these agreements are attached as exhibits to this Schedule 13D, and are incorporated herein by reference.

Other than as described in Items 3, 4 and 5, which disclosure is incorporated into this Item 6 by reference, to the Reporting Persons' knowledge, there are no contracts, arrangements, understandings or relationships (legal or otherwise) among the persons named in Item 2 and between such persons and any person with respect to any securities of the Issuer.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Helix Holdings III LLC

**Signature:** /s/ Bihua Chen

**Name/Title:** Bihua Chen, Managing Member of Helix Holdings III LLC

**Date:** 01/29/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Bihua Chen

**Signature:** /s/ Bihua Chen

**Name/Title:** Bihua Chen

**Date:** 01/29/2026