Ares Acquisition II(AACT) - 2024 Q2 - Quarterly Report

Financial Position - As of June 30, 2024, the company had $1,396,782 in its operating bank account and working capital of$1,307,006[109]. - The company has no long-term debt obligations or off-balance sheet arrangements[112]. Income and Expenses - For the three months ended June 30, 2024, the company reported a net income of $6,585,367, driven by investment income of$6,958,789[108]. - The company incurred general and administrative costs of $373,422 for the three months ended June 30, 2024, compared to$307,287 for the same period in 2023[108]. - The company expects to incur increased expenses due to being a public company, including legal and compliance costs[107]. Initial Public Offering - The company generated gross proceeds of $500,000,000 from its Initial Public Offering, with offering costs amounting to$28,550,129[103]. Business Combination - The company has until April 25, 2025, to complete a Business Combination, or it will redeem public shares at a per-share price based on the Trust Account balance[105]. - As of June 30, 2024, the company had contingent fees of $732,045 with a service provider, payable only if a Business Combination is consummated[115]. Administrative Agreements and Services - The company has entered into a monthly administrative service fee agreement of$16,667 with its Sponsor for general services[113]. Risk Factors - Management has identified risks related to inflation, rising interest rates, and geopolitical events that could negatively impact its financial position and ability to complete a Business Combination[111].