IPO Report: Ares debuts second SPAC IPO in uncertain times but raises less capital than the first

April 28, 2023

Ares upsizes Ares Acquisition Corp. II SPAC but still draws in less capital less than its first SPAC raised in 2021. Read More...

Ares Management Corp.’s second blank-check stock offering added $50 million in stock to bring its total proceeds to $500 million for a successful debut, in a sign of healthy demand in the face of a choppy market.

Ares Acquisition Corp. II AACT.UT debuted April 21 at $10 a share as the largest special purpose acquisition company (SPAC) by total dollar proceeds to go public since January 2022. It was last trading at $10.11 a share on Friday.

Typically,…