Aries I Acquisition Corporation
RAMMU
NASDAQ Capital Market10.68
USD
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Aries I Acquisition Corporation
RAMMU
(NASDAQ Capital Market)
Recent
price
10.68
P/E
ratio
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div
yld
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ROIC.AI
Capital Structure
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in mil. unless spec.- Similar Companies
- Business
- Aries I Acquisition Corporation (RAMMU) operates as a blank check company whose sole business purpose is to effect a merger, capital stock exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The Company focuses its search for initial business combination targets primarily in aerospace, satellites, and space exploration; quantum computing and chemistry; artificial intelligence and machine learning; cybersecurity; and blockchain and digital currencies, with an emphasis on companies having an individual enterprise value of less than $1.25 billion. Aries I Acquisition Corporation was founded in 2021 and maintains its headquarters at 23 Lime Tree Bay, P.O. Box 1569, Grand Cayman, Cayman Islands, KY1-1110; it is incorporated in the Cayman Islands and listed on Nasdaq. In December 2021, the Company entered into a definitive agreement for a business combination with Infinite Assets, Inc., a Web3 and Metaverse infrastructure provider, which was expected to value the combined entity at approximately $700 million and provide up to $171 million in cash proceeds prior to redemptions; the transaction included a planned redomiciliation from the Cayman Islands to Delaware. The merger agreement was amended multiple times in 2022 to extend completion deadlines, including extensions through October 2022 funded by deposits from sponsor Aries Acquisition Partners, Ltd. into the trust account, but was ultimately terminated by mutual consent on December 16, 2022, after failing to meet the required timeline. Unable to consummate an initial business combination within the extended period, Aries I Acquisition Corporation announced in March 2023 that it would not seek further extensions, redeemed all outstanding public shares effective March 21, 2023 (or March 31, 2023, per Nasdaq notice), and proceeded to liquidation, cancelling public shares and distributing trust proceeds to redeeming shareholders.
Aries I Acquisition Corporation Announces Pricing of $125 Million Initial Public Offering