Ares Acquisition II Registers for $400M IPO

Ares Acquisition II filed to offer 40 million units at $10 each, confirming an earlier report this week that Ares Management was mulling a new SPAC capital raise.

A unit consists of share and one-half of a warrant. The sponsor has committed to purchase at least $12.3 million in at $1 each.

Ares II plans to focus on companies in North America, Europe 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 the filing.

CEO David B. Kaplan is a co-founder, director and partner of Ares Management.

, UBS Investment Bank and CastleOak Securities are joint book-runners for the offering.

The SPAC intends to apply for a listing under the symbol AACT.U. Read more.


Source: Ares Acquisition II Registers for 0M IPO