Aries II Acquisition, the second blank check company led by the CEO of Global Investment Capital targeting specialized tech, filed on Thursday with the SEC to raise up to $130 million in an initial public offering.
The company plans to raise $130 million by offering 13 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Aries II Acquisition would command a market value of $163 million.
Aries II Acquisition is led by Chairman and CEO Thane Ritchie, the CEO of Global Investment Capital (TSXV: GLIN.P); President Paul Wolfe, a Principal at Ritchie Capital Management; and CFO Nathan Smith, the Managing Director and CFO of 60 Degrees.
The company plans to target highly specialized fields within the technology sector across North America, Europe, and Asia, including: aerospace, satellites, and space exploration; quantum computing and chemistry; artificial intelligence and machine learning; cybersecurity; and blockchain and digital currencies.
Management's previous SPAC, Aries I Acquisition (RAM), has a pending merger agreement with metaverse infrastructure platform InfiniteWorld.
The Cayman Islands-based company was founded in 2021 and plans to list on the Nasdaq under the symbol RAMXU. Aries II Acquisition filed confidentially on October 7, 2021. Oppenheimer & Co. is the sole bookrunner on the deal.
