Ares Acquisition II Closes Upsized $500M IPO 

Ares Acquisition II closed its initial public offering of 45 million units at $10 each and sold an additional 5 million units at the same price pursuant to the underwriters' partial exercise of their over-allotment option.

The company's sponsor is a subsidiary of , a global alternative investment manager with approximately $352 billion AUM as of Dec. 31.

Ares II plans to focus on companies in North America, or . “We will pursue an initial business combination with an established business with scale, attractive growth prospects and sustainable competitive advantages,” the SPAC said in its S-1 filing. Read more.

Source: Ares Acquisition II Closes Upsized 0M IPO