Infinite Assets, Inc. (“InfiniteWorld” or the “Company”), a
leading Metaverse infrastructure platform that enables brands to
create, monetize and drive consumer engagement with digital
content, and Aries I Acquisition Corporation (Nasdaq: RAM)
(“Aries”), a special purpose acquisition company, are pleased to
provide various updates reflecting strong progress toward
consummating later this year the previously announced business
combination between InfiniteWorld and Aries.
The Company and Aries are pleased to announce that media and
technology veteran Brad Allen has agreed to join InfiniteWorld as
its Chief Executive Officer. Mr. Allen most recently served as
Executive Chairman at Vaunt, a sports and entertainment IP
development and content company for athletes, artists, and
creators. He was previously Executive Chairman of NextVR, a virtual
reality company subsequently acquired by Apple. He has multiple
decades of experience working globally in the technology, media,
sports, and finance industries, and has also served as a director
of multiple private and public companies. Yonathan Lapchik, who has
been serving as InfiniteWorld’s CEO and is a Co-Founder of the
Company, will remain involved as a Senior Advisor to the CEO and
collaborate with the Company in his role as the CEO of
InfiniteWorld’s Web 3.0 partner, SUKU.
Mr. Allen stated, “I am excited and honored to be joining
InfiniteWorld at this inflection point in the Company’s development
and at the very early days of what we believe to be a rapidly
opening market for all elements of the Metaverse and Web 3.0,
including digital asset creation, infrastructure, and engagement.
InfiniteWorld has capabilities that I believe are well-positioned
at the intersection of digital content, content creators large and
small, communities of users and consumers, and next generation
engagement and marketing strategies for brands around the world. I
look forward to a successful business combination with Aries and
our ability to grow and develop as one of the first pure-play
Metaverse companies in the public markets.”
Mr. Lapchik stated, "InfiniteWorld has experienced strong
momentum this year, which puts us in a position to bring on Brad
Allen, a seasoned sports, media and technology executive, to take
the company to the next level of growth. It’s a bittersweet moment
for me but we have always anticipated bringing on new leadership
for this phase. Serving as CEO of both InfiniteWorld and SUKU at
the same time has been my true pleasure and I believe has been
beneficial for both companies. Brad can now help InfiniteWorld
transition into its next stage as a public entity. This will allow
me to devote more energy to my passion for decentralization through
SUKU, which I believe will help deepen InfiniteWorld’s integration
with other decentralized Web 3.0 ecosystems and communities."
InfiniteWorld and Aries are actively working on all relevant
workstreams relating to the business combination and InfiniteWorld
becoming a public company later this year. There is no minimum cash
condition to closing the transaction.
Thane Ritchie, Chairman of Aries, stated, “We remain highly
enthusiastic about our upcoming business combination with
InfiniteWorld. The level of energy and momentum at the Company
continues to be exceptionally high. We are delighted that
InfiniteWorld was able to attract Brad to serve as its CEO, and we
are pleased with the progress that the Company continues to make
with respect to becoming a public company and one of the first
pure-play public companies focused on the Metaverse.”
About InfiniteWorld
InfiniteWorld, part of the SUKU Ecosystem, is an NFT and
Metaverse infrastructure company that enables brands and creators
to create, monetize, and drive consumer engagement with digital
content, and is poised to become a publicly traded company through
a business combination with Aries I Acquisition Corporation
(Nasdaq: RAM), a special purpose acquisition company. InfiniteWorld
has been highly sought after by brands and creators for its ability
to create programs around NFTs and other digital assets that offer
high level experiences and engagement for their consumers and
communities.
About Aries I Acquisition Corporation
Aries I Acquisition Corporation (NASDAQ: RAM) was founded by its
Chairman, Thane Ritchie. Aries is a special purpose acquisition
company whose business purpose is to effect a merger, capital stock
exchange, asset acquisition, stock purchase, reorganization or
similar business combination with one or more businesses.
On December 13, 2021, Aries and InfiniteWorld announced that
they had entered into a definitive business combination agreement.
Closing of the business combination is subject to customary closing
conditions including the approval of the shareholders of Aries.
For materials and information, visit
https://www.infiniteworld.com/ for InfiniteWorld and
https://www.ariescorp.io/ for Aries.
No Offer or Solicitation
This press release is not a proxy statement or solicitation of a
proxy, consent or authorization with respect to any securities or
in respect of the potential transaction and does not constitute an
offer to sell or a solicitation of an offer to buy any securities
of Aries or InfiniteWorld, nor shall there be any sale of any such
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such state or
jurisdiction. No offer of securities shall be made except by means
of a prospectus meeting the requirements of the Securities Act.
Important Additional Information Regarding the Transaction
Will Be Filed With the SEC
In connection with the proposed business combination, Aries
intends to file with the U.S. Securities and Exchange Commission
(the “SEC”) a registration statement on Form S-4 containing a
preliminary proxy statement and a preliminary prospectus of Aries,
and after the registration statement is declared effective, Aries
will mail a definitive proxy statement/prospectus relating to the
proposed business combination to its shareholders and
InfiniteWorld’s shareholders. This press release does not contain
all the information that should be considered concerning the
proposed business combination and is not intended to form the basis
of any investment decision or any other decision in respect of the
business combination. Aries’s shareholders and other interested
persons are advised to read, when available, the preliminary proxy
statement/prospectus and the amendments thereto and the definitive
proxy statement/prospectus and other documents filed in connection
with the proposed business combination, as these materials will
contain important information about InfiniteWorld, Aries and the
proposed business combination. When available, the definitive proxy
statement/prospectus and other relevant materials for the proposed
business combination will be mailed to shareholders of Aries as of
a record date to be established for voting on the proposed business
combination. Such shareholders will also be able to obtain copies
of the preliminary proxy statement/prospectus, the definitive proxy
statement/prospectus and other documents filed with the SEC,
without charge, once available, at the SEC’s website at
www.sec.gov, or by directing a request to Aries I Acquisition
Corporation, 23 Lime Tree Bay, P.O. Box 1569 Grand Cayman, Cayman
Islands.
Participants in the Solicitation
Aries and InfiniteWorld and their respective directors,
executive officers, other members of management, and employees,
under SEC rules, may be deemed to be participants in the
solicitation of proxies of Aries’ shareholders in connection with
the proposed transaction. Information regarding the persons who
may, under SEC rules, be deemed participants in the solicitation of
Aries’ shareholders in connection with the proposed business
combination will be set forth in Aries’ registration statement on
Form S-4, including a proxy statement/prospectus, when it is filed
with the SEC. Investors and security holders may obtain more
detailed information regarding the names and interests in the
proposed transaction of Aries’ directors and officers in Aries’
filings with the SEC and such information will also be in the
Registration Statement to be filed with the SEC by Aries, which
will include the proxy statement/prospectus of Aries for the
proposed transaction.
Cautionary Statement Regarding Forward-Looking
Statements
This press release includes “forward-looking statements” within
the meaning of the “safe harbor” provisions of the United States
Private Securities Litigation Reform Act of 1995. Aries’ and
InfiniteWorld’s actual results may differ from their expectations,
estimates, and projections and, consequently, you should not rely
on these forward-looking statements as predictions of future
events. Words such as “expect,” “estimate,” “project,” “budget,”
“forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,”
“should,” “believes,” “predicts,” “potential,” “continue,” and
similar expressions (or the negative versions of such words or
expressions) are intended to identify such forward-looking
statements. These forward-looking statements include, without
limitation, the satisfaction of the closing conditions to the
proposed business combination, and the timing of the completion of
the proposed business combination. These forward-looking statements
involve significant risks and uncertainties that could cause the
actual results to differ materially from those discussed in the
forward-looking statements. Most of these factors are outside
Aries’s and InfiniteWorld’s control and are difficult to predict.
Factors that may cause such differences include, but are not
limited to: (1) the occurrence of any event, change, or other
circumstances that could give rise to the termination of the
definitive business combination agreement (the “Agreement”); (2)
the outcome of any legal proceedings that may be instituted against
Aries and InfiniteWorld following the announcement of the Agreement
and the transactions contemplated therein; (3) the inability to
complete the proposed business combination, including due to
failure to obtain approval of the shareholders of Aries and
InfiniteWorld, certain regulatory approvals, or satisfy other
conditions to closing in the Agreement; (4) the occurrence of any
event, change, or other circumstance that could give rise to the
termination of the Agreement or could otherwise cause the
transaction to fail to close; (5) the impact of COVID-19 on
InfiniteWorld’s business and/or the ability of the parties to
complete the proposed business combination; (6) the risk that the
proposed business combination disrupts current plans and operations
as a result of the announcement and consummation of the proposed
business combination; (7) costs related to the proposed business
combination; (8) changes in applicable laws or regulations; (9) the
possibility that InfiniteWorld or Aries may be adversely affected
by other economic, business, and/or competitive factors; and (10)
other risks and uncertainties indicated from time to time in the
final prospectus of Aries for its initial public offering,
including those under “Risk Factors” therein, and in Aries’ other
filings with the SEC. Aries cautions that the foregoing list of
factors is not exclusive. Aries cautions readers not to place undue
reliance upon any forward-looking statements, which speak only as
of the date made. Aries does not undertake or accept any obligation
or undertaking to release publicly any updates or revisions to any
forward-looking statements to reflect any change in its
expectations or any change in events, conditions, or circumstances
on which any such statement is based.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220526005209/en/
Media Edelman for Aries and InfiniteWorld
InfiniteWorld@edelman.com
Investors Sam Collins Aries I Acquisition Corporation
(647) 964-9643 scollins@ariescorp.io
Aries I Acquisition (NASDAQ:RAM)
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