Ares Acquisition II Prices Upsized $450M IPO

Ares Acquisition II priced its upsized initial public offering of 45 million units at $10 each. The SPAC initially planned to offer 40 million units.

Ares II plans to focus on companies in North America, Europe or Asia. “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 last month.

Units list on the New York Stock Exchange, and began trading today under symbol AACT.U. Each consists of Class A share and one-half of a warrant.

Once the securities begin separate trading, shares and are expected to list under the symbols AACT and AACT WS.

Citigroup and are acting as joint book-runners and representatives of the underwriters. CastleOak is co-manager. Read more.

Source: Ares Acquisition II Prices Upsized 0M IPO