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Warrants
Alert
Books
THE INVESTOR'S GUIDE TO WARRANTS:
Capitalize on the Fastest Growing Sector of the
Stock Market, Second Edition (Hardcover)
by Andrew McHattie Rating: ISBN-10: 027303751X
Name -
Ares Acquisition Corporation
245 Park Avenue, 44th Floor, New York, New York 10167
Phone - (212) 750-7300
Website - N/A
Warrants Listed - 10,000,000
Symbol - AAC.W
Cusip Number - G0451A 115
Expiry Date - November 7, 2023
Exercise Price - $11.50
Synopsis & Listing Information
Ares Acquisition Corporation was a blank-check company (SPAC) sponsored by Ares Management Corporation. The company went public on February 4, 2021, raising $1 billion through the sale of units.
Listing Date: The warrants began separate trading on the NYSE under the symbol AAC.WS on approximately March 29, 2021 (the 52nd day following the IPO).
Redemption/Liquidation: On October 31, 2023, the company announced that it would not complete an initial business combination within the required timeframe. As a result, the company moved to liquidate and dissolve.
Warrant Status: According to the SEC filings and the Warrant Agreement, because no business combination was completed, the warrants expired worthless. The last day of trading for the warrants was November 6, 2023, and they were officially cancelled effective November 7, 2023.
Other Related Listings: Note that there was a successor vehicle, Ares Acquisition Corporation II (AACT), which is a separate entity with its own warrants (AACT.WS).
245 Park Avenue, 44th Floor, New York, New York 10167
Phone - (212) 750-7300
Website - N/A
Warrants Listed - 10,000,000
Symbol - AAC.W
Cusip Number - G0451A 115
Expiry Date - November 7, 2023
Exercise Price - $11.50
Synopsis & Listing Information
Ares Acquisition Corporation was a blank-check company (SPAC) sponsored by Ares Management Corporation. The company went public on February 4, 2021, raising $1 billion through the sale of units.
Listing Date: The warrants began separate trading on the NYSE under the symbol AAC.WS on approximately March 29, 2021 (the 52nd day following the IPO).
Redemption/Liquidation: On October 31, 2023, the company announced that it would not complete an initial business combination within the required timeframe. As a result, the company moved to liquidate and dissolve.
Warrant Status: According to the SEC filings and the Warrant Agreement, because no business combination was completed, the warrants expired worthless. The last day of trading for the warrants was November 6, 2023, and they were officially cancelled effective November 7, 2023.
Other Related Listings: Note that there was a successor vehicle, Ares Acquisition Corporation II (AACT), which is a separate entity with its own warrants (AACT.WS).
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Warrant Terms
- Expiration Date: The last day the warrants can be exercised. If warrants aren't going to be exercised then they must be sold the day before the expiry date. The longer the time to expiry the more valuable the warrants.
- Leverage: A measure of how much you can increase your exposure to a share if you bought warrants instead of making a direct investment. It is the current share price divided by the current price of the warrant.
- Intrinsic Value: The difference between the exercise price and the actual trading price of the common stock. Once the common has gone over the exercise price, the warrants are "In the Money."
- Volatility: The higher the volatility rating, the higher the price of the warrant. Historical volatility is calculated by using the standard deviation of an underlying stock price over a specific period.
- Time Value: The difference between the current warrant price and its intrinsic value. Interpreted as the consideration paid for the advantage the warrant buyer has over the direct investor.
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