Ares Acquisition Corporation III Announces Closing of Upsized $395 Million Initial Public Offering, Including Partial Exercise of Over-Allotment Option
Ares Acquisition Corporation III Announces Closing of Upsized $395 Million Initial Public Offering, Including Partial Exercise of Over-Allotment Option
A special purpose acquisition company (SPAC) is a company formed with the sole purpose of raising money through a public offering to buy or merge with an existing private business. It acts like a vehicle that allows private companies to go public more quickly and with less complexity. For investors, it offers an opportunity to invest early in a potential acquisition, though it also carries risks if the intended deal doesn’t materialize.
over-allotment optionfinancial
An over-allotment option is a special agreement that allows underwriters to sell more shares than initially planned if demand is high. Think of it like a retailer offering extra units of a popular product to meet additional customer interest. This option helps ensure the full sale is completed and can also give investors extra shares if they want more.
redeemable warrantfinancial
A redeemable warrant is a financial tool that gives its holder the right to buy shares of a company at a fixed price within a certain period. If the holder chooses to do so, the company can buy back or cancel the warrant before it expires, often to encourage investment or manage share issuance. For investors, it provides an option to potentially buy shares at a favorable price while offering some flexibility for the issuing company.
prospectusregulatory
A prospectus is a detailed document that explains a company's plans for offering new shares or investments to the public. It’s important because it provides potential investors with key information about the company’s business, risks, and how they might make money, helping them decide whether to invest. Think of it as a guidebook for understanding what you're buying into.
registration statementregulatory
A registration statement is a formal document that companies file with a government agency to offer new shares of stock to the public. It provides essential information about the company's finances, operations, and risks, helping investors make informed decisions. Think of it as a detailed product description that ensures transparency and trust before buying into a company.
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NEW YORK--(BUSINESS WIRE)--
Ares Acquisition Corporation III (the “Company”), a special purpose acquisition company formed for the purpose of entering into a combination with one or more businesses, today announced the closing of its initial public offering of 34,500,000 units at a price of $10.00 per share and the sale of an additional 5,000,000 units at $10.00 per share pursuant to the underwriters’ partial exercise of their over-allotment option. Each unit consists of one Class A ordinary share of the Company and one-tenth of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share of the Company at a price of $11.50 per share. Total gross proceeds from the offering were $395 million before deducting underwriting discounts and commissions and other offering expenses payable by the Company.
The Company’s sponsor is a subsidiary of Ares Management Corporation (“Ares”) (NYSE: ARES), a leading, global alternative investment manager with approximately $644 billion of assets under management as of March 31, 2026. The Company’s management team is led by David B. Kaplan, as Chief Executive Officer and Co-Chairman of the Board of Directors, and Michael J. Arougheti as Co-Chairman of the Board of Directors.
The Company’s units began trading on the New York Stock Exchange under the ticker symbol “AAC.U” on June 30, 2026. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on the New York Stock Exchange under the symbols “AAC” and “AAC WS,” respectively.
J.P. Morgan and Jefferies acted as joint book-runners and underwriters for this offering. The offering was made only by means of a prospectus. Copies of the final prospectus related to the offering may be obtained from: J.P. Morgan Securities LLC, 270 Park Avenue, New York, New York, 10017, Attention: Equity Syndicate Desk, and Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, New York 10022, by telephone at (877) 821-7388, or by email at Prospectus_Department@Jefferies.com.
A registration statement relating to the securities became effective on June 29, 2026 in accordance with Section 8(a) of the Securities Act of 1933, as amended. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Ares Acquisition Corporation III
Ares Acquisition Corporation III (“AAC”) is a special purpose acquisition company sponsored by a subsidiary of Ares, a leading global alternative investment manager. Having completed a $395 million initial public offering in July 2026, the Company seeks to effect a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination and is expected to benefit from its affiliation with Ares through access to corporate relationships, industry sector expertise and value creation capabilities. For more information, please visit: https://www.ares.com/us/businesses-and-products/our-products/aac-iii.
This press release contains statements that constitute “forward-looking statements,” including with respect to the anticipated use of the net proceeds. No assurance can be given that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus for the Company’s offering filed with the Securities and Exchange Commission (“SEC”). Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
