Ares Acquisition Corporation III has closed its upsized initial public offering, raising total gross proceeds of $395 million. The offering consisted of 34.5 million units sold at $10.00 each, plus an additional 5 million units sold through the partial exercise of the underwriters' over-allotment option. Each unit comprises one Class A ordinary share and one-tenth of a redeemable warrant, with each whole warrant exercisable for one Class A ordinary share at $11.50 per share. The company's sponsor is a subsidiary of Ares Management Corporation, a global alternative investment manager with approximately $644 billion in assets under management as of March 31, 2026. The units began trading on the New York Stock Exchange under the ticker symbol AAC.U on June 30, 2026.
Ares Management LPAres Management's subsidiary sponsored the SPAC, which raised $395M in an upsized IPO, providing capital for future acquisitions.
The SPAC successfully closed its upsized IPO, raising $395 million in gross proceeds.