Ares Acquisition filed iwth the SEC to offer 60 million units at $10 each to raise $600 million in an IPO
While the SPAC has not identified a target sector for a business combination, it ruled out companies in the fossil fuel energy industry, including the upstream, midstream and energy services sub-sectors. The search for an acquisition will be focused on North America, Europe or Asia.
Ares is led by CEO David Kaplan, a co-founder Ares, director and partner of Ares Management Corporation and co-chairman of the Ares Private Equity Group.
Ares intends to list on the NYSE under AAC.U. Read more.
