Ares Acquisition Corporation II (AACT) Prices Upsized $450M IPO


Ares Acquisition Corporation II (AACT) Prices Upsized $450M IPO

Ares Acquisition Corporation II priced its upsized $450 million IPO and its units are expected to begin trading on the NYSE under the symbol “AACT.U” Friday, April 21, 2023.

The SPAC intends to focus its search on an established target in North America, Europe or Asia that has a differentiated and sustainable business model with a defensible market position and a strong management team. Ares Acquisition Corporation II is led by CEO and Co-Chairman David B. Kaplan, Co-Chairman Michael J Aroughet, CFO Jarrod Phillips, COO Allyson Satin and  Executive Vice President of Strategy Peter Ogilvie.

Total SPAC deal count for 2023 year-to-date is now 12. This offering is expected to close on Tuesday, April 25, 2023.

Citigroup and UBS Investment Bank are acting as joint book-runners and representatives of the underwriters for this offering, and CastleOak is acting as co-manager. Kirkland & Ellis LLP is serving as Issuer’s Counsel with Ropes & Gray LLP serving as Underwriter’s Counsel. WithumSmith+Brown, PC serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.