Ares Acquisition Corporation III raises $395M in NYSE IPO

Ares Acquisition Corporation III, a special purpose acquisition company (SPAC) sponsored by a subsidiary of Ares Management Corporation (NYSE: ARES), has closed its initial public offering on the New York Stock Exchange, raising $395 million in gross proceeds before underwriting discounts, commissions, and other expenses.

The offering consisted of 34,500,000 units priced at $10.00 per share, plus an additional 5,000,000 units sold through a partial exercise of the underwriters' over-allotment option at the same price. Each unit comprises one Class A ordinary share and one-tenth of one redeemable warrant, with each whole warrant exercisable to purchase one Class A ordinary share at $11.50.

The company's units began trading on the NYSE under the ticker symbol "AAC.U" on June 30, 2026. The Class A ordinary shares and warrants are expected to trade separately on the NYSE under the symbols "AAC" and "AAC WS," respectively.

David B. Kaplan serves as Chief Executive Officer and Co-Chairman of the Board of Directors, with Michael J. Arougheti as Co-Chairman of the Board of Directors. Ares Management reported approximately $644 billion in assets under management as of March 31, 2026.

J.P. Morgan and Jefferies acted as joint book-runners and underwriters for the offering. The registration statement became effective on June 29, 2026, under the Securities Act of 1933.

You May Also Be Interested In

• B&R Technology Merger Corp. raises $325M in Nasdaq IPO
• Five Star Bancorp prices stock offering at $44 per share
• TECfusions to go public via SPAC deal valued at $4 billion