Here are the 10-Q quarterly reports from Ares Acquisition Corporation III (AAC) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow AAC and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full AAC filings page.
Ares Acquisition Corp III (AAC) reported net income of $2,946,610 for the three months ended September 30, 2026, consisting of $3,588,581 in investment income from its Trust Account less $641,971 in general and administrative expenses. AAC had not commenced operations by September 30 and expects no operating revenue until after an initial business combination; activity since its IPO included identifying a prospective target.
As of September 30, 2026, investments held in the Trust Account were $398,588,581; cash outside the account was $1,983,588 and working capital was $1,805,830. AAC had 11,416,667 warrants outstanding, with an $11.50 exercise price for each whole warrant to purchase one Class A ordinary share.
The current Combination Period expires July 1, 2028; entering a letter of intent with a potential target automatically extends it from 24 to 30 months from the IPO closing. If AAC does not complete a business combination within the applicable period, it must redeem 100% of outstanding Public Shares; warrants have no redemption or liquidation distribution rights and may expire worthless.
Ares Acquisition Corporation III is a newly formed special purpose acquisition company that, as of June 30, 2026, had not begun operating activities beyond formation and preparing for its initial public offering. Total assets were $10,928,774, including $6,900,000 in a Trust Account and $3,300,000 in cash, funded primarily by a $10,200,000 advance from the sponsor for the planned private placement. The company reported a net loss of $29,289 since inception, driven by general and administrative expenses.
The SPAC’s IPO was declared effective on June 29, 2026 and subsequently closed on July 1, 2026 with 39,500,000 units sold at $10.00 each, generating gross proceeds of $395,000,000, and a concurrent private placement of 7,466,667 warrants for $11,200,000. After the IPO, $395,000,000 was placed in the Trust Account to fund a future business combination within a Combination Period that currently runs to July 1, 2028. Management believes available cash outside the Trust Account, potential interest withdrawals and possible sponsor Working Capital Loans provide sufficient liquidity through at least one year while a target is identified.