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