Aries I Acquisition in a regulatory filing late yesterday announced that it will redeem shares and dissolve, effective immediately.
The per-share redemption price will be approximately $10.51. The balance of the trust as of March 8 was approximately $24 million. The SPAC had raised $125 million in a May 2021 ipo, although redemptions ahead of several extension votes whittled down the trust over the last 22 months.
Aries I in December terminated a merger agreement with Infinite Assets, a Web3 and Metaverse infrastructure company. That deal was valued at $700 million. Read more.
Source: Aries I Acquisition Liquidates