Chen Bihua 4/A

What Happened
Bihua (Bihua) Chen, reported as a 10% owner related to Helix Holdings III LLC and affiliated Cormorant funds, acquired a total of 2,016,250 Helix Acquisition Corp. III ordinary shares in late January 2026. Transactions shown on the amended Form 4: an 800,000-share private/open-market purchase on 2026-01-26 at $10.00 per share ($8,000,000), a 497,500-share grant/award on 2026-01-26 at $10.00 per share (reported value $4,975,000), and a 718,750-share issuance on 2026-01-22 via a share capitalization (Class B ordinary shares; derivative, no cash price listed). The two $10.00 transactions total $12,975,000 in cash consideration; the 718,750 Class B shares were issued via capitalization and are convertible to Class A shares per the registration statement.

Key Details

• Transaction dates/prices:
  • Jan 26, 2026 — Open market/private purchase (P): 800,000 shares @ $10.00 = $8,000,000.
  • Jan 26, 2026 — Grant/award (A): 497,500 shares @ $10.00 = $4,975,000.
  • Jan 22, 2026 — Share capitalization (J): 718,750 Class B ordinary shares issued to Helix Holdings III LLC (derivative; N/A price).
• Total shares acquired: 2,016,250. Total cash paid for purchases: $12,975,000.
• Footnotes/ownership: Helix Holdings III LLC is the record holder. Cormorant Fund VI and Cormorant Global Healthcare Master Fund, LP own Helix Holdings III LLC; Ms. Chen is managing member of those funds and has voting and investment discretion but disclaims beneficial ownership except to the extent of any pecuniary interest (see footnotes F1, F3).
• Class B shares: The 718,750 Class B ordinary shares convert one-for-one into Class A shares on consummation of a business combination (see F4, F5).
• Filing status: This is an amended Form 4 (amends the Jan 26 filing to correct share counts to include IPO purchases by Cormorant Global Healthcare Master Fund, LP per the S‑1). The original report and this amendment were filed within the typical Form 4 reporting window.

Context

• This activity is reported by a 10% owner through affiliated entities, not a routine executive sale—ownership is held of record through investment vehicles and Helix Holdings III LLC, so ownership/intent should be interpreted as institutional/fund-related rather than a personal executive trade.
• The 718,750 Class B shares are derivative/convertible founder/private placement-style shares as described in the company’s registration statement; they are not option exercises or cash purchases.
• No sales were reported; purchases and an issuance were disclosed. The amendment corrects previously reported quantities and incorporates IPO-related purchases by a fund.