Ares Acquisition Corporation III filed its quarterly report on Form 10-Q with the SEC on November 9, 2026, covering the period ended September 30, 2026, its first filing since the company's inception on March 25, 2026.

Key Highlights

  • Trust Account balance: Investments held in Trust Account totaled $398,588,581 as of September 30, 2026, according to the filing.
  • Shares outstanding: As of November 4, 2026, 39,500,000 Class A ordinary shares and 9,875,000 Class B ordinary shares were issued and outstanding.
  • Redemption price: The 39,500,000 Class A ordinary shares subject to possible redemption were valued at $10.09 per share as of September 30, 2026.
  • Net income: The company reported net income of $2,946,610 for the three months ended September 30, 2026, driven by $3,588,581 in investment income from the Trust Account.
  • Shareholders' deficit: Total shareholders' deficit stood at $(11,919,170) as of September 30, 2026, reflecting accumulated deficit of $(11,920,158).
  • Deferred underwriting and advisory fees: The filing disclosed deferred underwriting and advisory fees of $13,825,000.
  • Shell company status: The registrant indicated it is a shell company as defined in Rule 12b-2 of the Exchange Act.

Ares Acquisition Corporation III: Financial Position and Operations Through September 30, 2026

Ares Acquisition Corporation III (NYSE:AAC), a blank check company incorporated in the Cayman Islands, filed its first quarterly report covering operations from its inception on March 25, 2026 through September 30, 2026. According to the filing, total assets were $400,815,952, of which $398,588,581 was held in a Trust Account. Cash on hand was reported at $1,983,588, with prepaid expenses of $243,783 making up the remainder of current assets.

The company reported a loss from operations of $641,971 for the three months ended September 30, 2026, attributable to general and administrative expenses. However, investment income of $3,588,581 earned on assets held in the Trust Account resulted in net income of $2,946,610 for the same period. For the period from inception through September 30, 2026, the filing reported net income of $2,917,321 on investment income of the same $3,588,581 amount, offset by $671,260 in general and administrative expenses.

The filing disclosed that on June 30, 2026, the underwriters partially exercised their over-allotment option and 1,250,000 Class B ordinary shares were no longer subject to forfeiture. The company issued 9,875,000 Class B ordinary shares to its Sponsor for $25,000 at inception. Private Placement Warrants generated $11,200,000 in proceeds. The filing noted that all share and per share amounts were retroactively restated to reflect share recapitalizations and share surrender. Basic and diluted net income per share was $0.06 for both Class A and Class B ordinary shares for the three months ended September 30, 2026. The registrant classified itself as a non-accelerated filer, smaller reporting company, and emerging growth company.

What Was Disclosed

Ares Acquisition Corporation III disclosed its unaudited condensed financial statements for the quarter ended September 30, 2026, its first since inception, showing a trust account of $398,588,581, net income of $2,946,610 for the quarter, and a total shareholders' deficit of $(11,919,170).