Aries I Acquisition pushed its merger deadline from Sept. 21 to Oct. 21, enabled by its sponsor’s deposit of $80,362.03 into Aries’ trust account. This is the second of up to 12 monthly deadline extensions.
The SPAC is preppring for a shareholder vote on its proposed acquisition of Infinite Assets, a Web3 and Metaverse infrastructure company that enables brands and creators to create, monetize, and drive consumer engagement with digital content.
As announced last December, the combined enterprise would have a pro forma equity value of approximately $700 million, assuming no redemptions by Aries’ public shareholders.
If approved, InfiniteWorld would list on the Nasdaq under the ticker symbol JPG.
The transaction would provide up to $171 million of cash to the combined company (before transaction expenses and assuming no redemptions. Read more.
