Ares Acquisition Corp III closes $395M IPO; $406.2M placed in trust

Ares Acquisition Corp III

IPO of 39.5M units at $10.00/unit, including 5M from over-allotment; gross proceeds $395M.
Sponsor purchased 7.47M private placement warrants at $1.50 each, raising $11.2M.
Total $406.2M deposited into trust account; funds restricted until business combination or liquidation.
Company has 24 months from closing to complete initial business combination.
Entered underwriting, warrant, trust, registration rights, and administrative services agreements.

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