Aries II Acquisition, a blank check company targeting specialized tech across North America, Europe, and Asia, withdrew its plans for an initial public offering on Thursday. It had filed in December 2021 to raise $130 million by offering 13 million units at $10, with each unit containing one share of common stock and one-half of a warrant.
The company was set to be 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. Aries II Acquisition planned to target highly specialized fields within the technology sector across North America, Europe, and Asia.
Management's previous SPAC, Aries I Acquisition (RAM; +3%), has a pending merger agreement with metaverse infrastructure platform InfiniteWorld.
The Cayman Islands-based company was founded in 2021 and planned to list on the Nasdaq under the symbol RAMXU. Oppenheimer & Co. was set to be the sole bookrunner on the deal.
