Financial Position - As of March 31, 2023, total assets amounted to 842,780,asignificantincreasefrom512,595 as of December 31, 2022, reflecting a growth of approximately 64.3%[8] - Total liabilities increased to 834,119asofMarch31,2023,upfrom503,634 as of December 31, 2022, representing a rise of about 65.5%[8] - The total shareholder's equity decreased to 8,661asofMarch31,2023,downfrom8,961 as of December 31, 2022, reflecting a decline of about 3.3%[8] - As of March 31, 2023, the Company had no cash equivalents and did not hold cash in any financial institution accounts[46][54] - The Company has no long-term debt obligations or off-balance sheet arrangements as of the reporting date[95] Operating Performance - The company reported a net loss of 300forthethreemonthsendedMarch31,2023,comparedtoanetlossof1,751 for the same period in 2022, indicating a reduction in losses by approximately 82.9%[12] - The Company incurred formation costs of 300forthethreemonthsendedMarch31,2023,comparedto1,751 for the same period in 2022, showing a decrease of approximately 82.9%[12] - The company reported no cash flows from operating activities for the three months ended March 31, 2023, consistent with the previous year[21] - The company had a net loss of 300forthethreemonthsendedMarch31,2023,comparedtoanetlossof1,751 for the same period in 2022, primarily due to formation costs[91] Initial Public Offering (IPO) - The Initial Public Offering (IPO) was completed on April 25, 2023, raising gross proceeds of 500,000,000fromthesaleof50,000,000unitsat10.00 per unit, with offering costs amounting to 28,452,534[26]−TheCompanycompleteditsInitialPublicOfferingonApril25,2023,raisinggrossproceedsof500,000,000 from the sale of 50,000,000 Units at 10.00perUnit,incurringofferingcostsof28,452,534[58] - The Company sold an additional 14,300,000 Private Placement Warrants for 14,300,000simultaneouslywiththeIPO[27]−TheCompanyissued14,300,000PrivatePlacementWarrantsatapriceof11.50 per share, generating 14,300,000inproceeds,whichwereaddedtotheTrustAccount[71]TrustAccountandBusinessCombination−Atotalof505,000,000 was placed in a Trust Account, invested solely in U.S. government securities, with a per unit value of 10.10[28]−TheCompanymustcompleteaBusinessCombinationwithtargetbusinesseshavingafairmarketvalueofatleast8010.10 per share[31] - The Company has until April 25, 2025, to complete a Business Combination, after which it will redeem Public Shares at the amount in the Trust Account[34] - The Sponsor has agreed to waive its liquidation rights regarding Founder Shares if the Company fails to complete a Business Combination within the Combination Period[35] Management and Operations - The Company has approximately 3,400,000initsoperatingbankaccountimmediatelyaftertheIPOtocoverliquidityneeds[38]−ManagementbelievesthattheCompanywillhavesufficientworkingcapitalandborrowingcapacitytomeetitsneedsthroughtheearlieroftheconsummationofaBusinessCombinationoroneyearfromthefilingdate[39]−TheCompanyexpectstoincursignificantcostsrelatedtobeingapubliccompanyandpursuinginitialbusinesscombinations,withnooperatingrevenuesanticipateduntilaftersuchcombinationsarecompleted[90]ShareholderInformation−Thecompanyhad50,000,000ClassAordinarysharesand12,937,500ClassBordinarysharesissuedandoutstandingasofMay30,2023[3]−Theweightedaveragesharesoutstandingremainedconstantat11,250,000forboththethreemonthsendedMarch31,2023,and2022[12]−Theweightedaveragenumberofordinarysharesoutstandingwasadjustedfor1,687,500ClassBordinarysharessubjecttoforfeiture,resultinginanetlossperordinarysharecalculation[53]−TheSponsorholds12,937,500FounderShares,representing2017,500,000 in deferred underwriting commissions as part of the offering costs related to the Initial Public Offering[58] - The underwriters received a cash underwriting discount of 0.20perUnit,totaling10,000,000, and will receive deferred underwriting commissions of 17,500,000,payableonlyiftheCompanycompletesaBusinessCombination[79]−TheCompanyhasagreedtopayamonthlyAdministrativeServiceFeeof16,667 to the Sponsor for office space and administrative services, effective April 20, 2023[74] - Ares Management Capital Markets LLC received an advisory fee of 2,000,000upontheclosingoftheInitialPublicOfferingandwillreceiveadeferredfeeof3,500,000 contingent on completing the initial Business Combination[75] Accounting and Estimates - The company has identified critical accounting estimates that may affect reported amounts of assets and liabilities, emphasizing the potential for actual results to differ from estimates[98] - The company has no unrecognized tax benefits or accrued interest and penalties related to tax positions as of March 31, 2023[51] - The funds in the Trust Account will be comprised entirely of U.S. government securities with maturities of 185 days or less or money market funds meeting certain conditions[110]