With two parts of the crossover coming in the same week it's hard not spoil things so if I do I apologize.
Anyway the issue sort of recaps from what happened in the second part, we find a character who appeared at the end of the Batgirl issue confronting Tim and Steph on a rooftop, where this character informs them that there are assassins placed with the intent to kill key players in Tim's life. We officially hear that Ra's wants Tim dead. The character that has appeared by Steph and Tim is there to kill Steph. It is also revealed to Steph that Tim ran the League of Assassins for a while making her question who Tim is now.
With Tim Wayne in Gotham, Vicki Vale is looking for him at Wayne Manor. If you remember from way back at the end of the summer with one of the Battle for the Cowl tie-ins she seemingly figures out that Bruce Wayne is Batman and Tim Drake was Robin. Ra's comes to see a familiar face and offers him an ultimatum. Tim's hideout gets compromised and it blows up.
Overall, it's a satisfying arc so far. I assume this will take place till the 12th issue, so we have at least 2 more months of Ra's messing with Tim. Chris Yost writing has significantly improved, no longer switching between past, future and present. With that said Marcus To has drawn a significantly better Tim Drake/Red Robin than we were introduced with at the start of the series so that's a huge plus.
If you're interested in the Batman Universe, or if like me you're a huge fan of Tim Drake you need to have this issue. Go get it. Now.