Ares Acquisition Corp III director and Chief Executive Officer David B. Kaplan has filed an initial Form 3, which is the SEC’s baseline disclosure of an insider’s beneficial ownership in the company. This filing reports no buy, sell, or other share transactions and no derivative positions.
Ares Acquisition Corp III filed an initial ownership report for Chief Operating Officer Allyson Satin on Form 3. This filing establishes her status as a reporting officer of the company but does not list any specific share transactions or derivative positions.
Ares Acquisition Corporation III is registering 30,000,000 units for a $300,000,000 initial public offering. Each $10.00 unit includes one Class A ordinary share and one-tenth of a warrant, with each whole warrant exercisable at $11.50 per share.
The company is a Cayman Islands blank check firm formed to complete a business combination within 24 months, with a possible Extended Period to 30 months if a letter of intent is signed. It will place $300,000,000 (or $345,000,000 with full over-allotment) into a U.S. Treasury–backed trust, giving public shareholders redemption rights in connection with a deal, extensions, or liquidation.
The sponsor owns 8,625,000 Class B founder shares (targeting 20% of post-IPO shares) and will purchase 6,200,000 private placement warrants at $1.50 each, creating immediate dilution for public investors. The sponsor may lend up to $400,000 pre-IPO and up to $2,000,000 in working capital loans, which can convert into additional warrants, and will receive $16,667 per month for administrative services.