Aries I Acquisition closed its IPO of 14.375 million units, including 1.875 million units issued pursuant to the full exercise of the underwriters’ over-allotment option, at $10 each.
Units list on the Nasdaq under RAMMU. Each consists of one Class A ordinary share and one-half of one redeemable warrant, with each whole warrant exercisable to purchase one Class A ordinary share at $11.50. After the securities comprising the units begin separate trading, shares and warrants are expected to list under RAM and RAMMW, respectively.
Wells Fargo Securities and Kingswood Capital Markets, division of Benchmark Investments, were joint book-running managers of the offering.
Aries I plans to look for opportunities “in certain highly specialized fields within the technology sector across North America, Europe and Asia.”
The SPAC is led by Chairman Thane Ritchie, who is is CEO and a board member of Global Investment Capital. Read more.
