On December 13th 2021, InfiniteWorld, a leading metaverse infrastructure platform, and Aries I Acquisition Corporation (NASDAQ: RAM) (“Aries”), a special purpose acquisition company, announced they have entered into a definitive agreement for a business combination that will result in InfiniteWorld becoming a publicly traded company listed on the Nasdaq Global Select Market with a pro forma equity value of approximately $700 million.
Upon closing of the transaction, the combined company expects to be listed under the ticker symbol "JPG".
“With up to $15 trillion of wealth expected to flow into digital assets over the next 10 years, we are witnessing the birth of a new global asset class and economic system with significant implications for brands aiming to capture mind and wallet share of consumers,” said Thane Ritchie, Chairman of Aries.
“InfiniteWorld’s unparalleled technology infrastructure underscores the transition of commerce to the digital world. We look forward to working closely with Yonathan, Nat and the rest of the InfiniteWorld management team as they continue to build out their platform and content creation capabilities.”
“We believe that the combination of an attractive entry point and a robust earnout that heavily motivates the team to focus on shareholder value creation represents an ideal transaction structure that sets up InfiniteWorld for long-term success in the public markets."
Mr. Ritchie added, "We are pleased to be democratizing everyday investor access to disruptive and decentralized technologies through the public markets.”
Please find more information in the press release here.
Examples of Infiniteworld's content creation capabilities (Pholio) and white label NFT marketplace solution (McLaren) are shown below.