Ares Acquisition Corp. III (AAC.U) upsized its SPAC IPO at pricing to 34.5 million units – up from 30 million units in the prospectus – and priced the deal at $10.00 per unit, as expected – to raise $345 million on Monday night, June 29, 2026. Each unit consists of one share and one-tenth (1/10th) of one redeemable warrant.
Ares Acquisition Corp. III (AAC.U) is expected to start trading tomorrow – Tuesday, June 30, 2026 – on the New York Stock Exchange.
J.P. Morgan and Jefferies served as the joint book-runners.
This SPAC’s sponsor is an affiliate of Ares, a leading global alternative investment adviser, the prospectus said.
David B. Kaplan is the CEO and co-chairman of the board of directors of AAC III. Mr. Kaplan is a co-founder, director and partner of Ares Management Corp.
Ares Acquisition Corp. III (AAC.U) said it will search for an established business in North America, Europe or Asia in its quest for a suitable candidate for an initial business combination. It will look for an established business with scale, attractive growth prospects and sustainable competitive advantages, according to the prospectus.
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