Ares Acquisition II priced its upsized initial public offering of 45 million units at $10 each. The SPAC initially planned to offer 40 million units.
Ares II plans to focus on companies in North America, Europe or Asia. “We will pursue an initial business combination with an established business with scale, attractive growth prospects and sustainable competitive advantages,” the SPAC said in its S-1 filing last month.
Units list on the New York Stock Exchange, and began trading today under the ticker symbol AACT.U. Each consists of one Class A share and one-half of a warrant.
Once the securities begin separate trading, shares and warrants are expected to list under the symbols AACT and AACT WS.
Citigroup and UBS Investment Bank are acting as joint book-runners and representatives of the underwriters. CastleOak is co-manager. Read more.
