Financial Performance - For the three months ended June 30, 2023, the company reported a net income of 3,873,223, with general and administrative costs of 2,520,846 in its operating bank account and working capital of approximately 366,781 in loans from its Sponsor, which was fully repaid on April 25, 2023[104]. - The company has no long-term debt obligations or off-balance sheet arrangements as of June 30, 2023[107]. - As of June 30, 2023, the company has 50,000,000 Class A ordinary shares subject to possible redemption, classified as temporary equity[114]. Agreements and Fees - The company has entered into a monthly administrative service fee agreement of 17,500,000 is payable to underwriters, which will be waived if the company does not complete an initial business combination[109]. - The company has contingent fees of approximately $0.7 million with a service provider, payable only if a Business Combination is consummated[110]. Economic Factors - The company has evaluated the impact of inflation and rising interest rates, concluding that these factors could negatively affect its financial position and ability to complete an initial business combination[106].
Ares Acquisition II(AACT) - 2023 Q2 - Quarterly Report