NEW YORK--(BUSINESS WIRE)--Ares Acquisition Corporation, a special purpose acquisition company formed for the purpose of entering into a combination with one or more businesses, today announced the pricing of its initial public offering of 87,000,000 units at a price of $10.00 per unit. The units will be listed on the New York Stock Exchange and trade under the ticker symbol “AAC” beginning February 2, 2021. Each unit consists of one Class A ordinary share of the Company and one-fifth of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share of the Company at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on the New York Stock Exchange under the symbols “AAC” and “AAC.WS,” respectively.

The Company will not be limited to a particular industry or geographic region in its identification and acquisition of a target company, except that it does not intend to pursue the fossil fuel energy industry.

UBS Investment Bank and Citigroup are acting as book-runners and representatives of the underwriters for this offering. Morgan Stanley and Barclays are acting as book-runners, and CastleOak is acting as co-manager. The Company has granted the underwriters a 45-day option to purchase up to an additional 13,050,000 units at the initial public offering price to cover over-allotments, if any.