Ares Acquisition Corporation III Announces Closing of Upsized $395 Million Initial Public Offering, Including Partial Exercise of Over-Allotment Option
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.
