ARIES I ACQUISITION CORP. : Other Events, Financial Statements and Exhibits (form 8-K)

Item 8.01. Other Events

On November 11, 2022, Aries I Acquisition Corporation (the "Company") notified the trustee of the Company's trust account (the "Trust Account") that it was extending the time available to the Company to consummate its initial business combination from November 21, 2022 to December 21, 2022 (the "Extension"). The Extension provides the Company with additional time to complete its proposed business combination with Infinite Assets, Inc., a Web3 and Metaverse infrastructure company that enables brands and creators to create, monetize, and drive consumer engagement with digital content. The Extension is the fourth of up to twelve (12) one-month extensions permitted under the Company's governing documents.

Pursuant to the terms of the Company's trust agreement, on November 18, 2022, in connection with the Extension, the Company's sponsor, Aries Acquisition Partners, Ltd., deposited an aggregate of $80,362.03 into the Trust Account, on behalf of the Company. This deposit was made in respect of a non-interest bearing loan to the Company (the "Loan"). If the Company completes a business combination by December 21, 2022 (or by January 21, 2023, or by the 21st day of each of the immediately succeeding seven (7) calendar months, to the extent that, prior to each such date, the Company exercises an additional one-month extension to extend the time to complete a business combination), the Company will repay the Loan out of the proceeds of the Trust Account released to the Company. If the Company does not complete its initial business combination by December 21, 2022 (or by January 21, 2023, or by the 21st day of each of the immediately succeeding seven (7) calendar months, to the extent that, prior to each such date, the Company exercises an additional one-month extension to extend the time to complete a business combination), the Company will only repay the Loan from funds held outside of the Trust Account.

Item 9.01 Financial Statements and Exhibits.

 (d) Exhibits




Exhibit No.     Description
104             Cover Page Interactive Data File (embedded with the Inline XBRL
                document).

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