UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Schedule 13G/A

Amendment No. 1

(Rule 13d-102)

Under the Securities Exchange Act of 1934

Aries I Acquisition Corporation

(Name of Issuer)

Class A Ordinary Shares

(Title of Class of Securities)

G0542N115

(CUSIP Number)

June 30, 2021

(Date of Event which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b) ¨

Rule 13d-1(c) x

Rule 13d-1(d) ¨

*The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

(Continued on following pages)

(Page 1 of 12 Pages)

CUSIP No.  G0542N115 Schedule 13G Page 2 of 12 Pages

1	NAME OF REPORTING PERSONS THE K2 Principal Fund, L.P.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP	(a) ¨ (b) ¨
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION Ontario, CANADA

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH	5	SOLE VOTING POWER    -0-
	6	SHARED VOTING POWER     657,7361
	7	SOLE DISPOSITIVE POWER    -0-
	8	SHARED DISPOSITIVE POWER  657,7361

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON     657,7361
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES ¨
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 4.58%1
12	TYPE OF REPORTING PERSON PN

CUSIP No.  G0542N115 Schedule 13G Page 3 of 12 Pages

1	NAME OF REPORTING PERSONS K2 Genpar 2017 Inc.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP	(a) ¨ (b) ¨
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION Ontario, CANADA

SHARED VOTING POWER

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH	5	SOLE VOTING POWER    -0-
	6	657,7361
	7	SOLE DISPOSITIVE POWER    -0-
	8	SHARED DISPOSITIVE POWER  657,7361

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON     657,7361
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES ¨
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 4.58%1
12	TYPE OF REPORTING PERSON CO

CUSIP No.  G0542N115 Schedule 13G Page 4 of 12 Pages

1	NAME OF REPORTING PERSONS SHAWN KIMEL INVESTMENTS, INC.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP	(a) ¨ (b) ¨
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION ONTARIO, CANADA

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH	5	SOLE VOTING POWER    -0-
	6	SHARED VOTING POWER     657,7361
	7	SOLE DISPOSITIVE POWER    -0-
	8	SHARED DISPOSITIVE POWER     657,7361

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON    657,7361
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES ¨
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 4.58%1
12	TYPE OF REPORTING PERSON CO

CUSIP No.  G0542N115 Schedule 13G Page 5 of 12 Pages

1	NAME OF REPORTING PERSONS K2 & ASSOCIATES INVESTMENT MANAGEMENT INC.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP	(a) ¨ (b) ¨
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION ONTARIO, CANADA

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH	5	SOLE VOTING POWER    -0-
	6	SHARED VOTING POWER     657,7361
	7	SOLE DISPOSITIVE POWER    -0-
	8	SHARED DISPOSITIVE POWER     657,7361

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON    657,7361
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES ¨
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 4.58%1
12	TYPE OF REPORTING PERSON CO

CUSIP No.  G0542N115 Schedule 13G Page 6 of 12 Pages

Item 1(a). Name of Issuer:

The name of the issuer is Aries I Acquisition Corporation

Item 1(b). Address of Issuer's Principal Executive Offices:

The Company's principal executive offices are located at 90 N. CHURCH STREET, P.O. BOX 10315, GRAND CAYMAN, Cayman Islands, KY-1003

Item 2(a). Name of Person Filing:

The persons filing this statement are Shawn Kimel Investments, Inc., an Ontario corporation (“SKI“), The K2 Principal Fund, L.P., an Ontario limited partnership (the “Fund“), K2 Genpar 2017 Inc., an Ontario corporation and the General Partner to the Fund (“Genpar 2017“), and K2 & Associates Investment Management Inc., an Ontario corporation (“K2 & Associates“). Together SKI, the Fund, Genpar2017, and K2 & Associates are the “Reporting Persons“).

Mr. Gosselin is Vice president of SKI, Secretary of Genpar 2017, and President of K2 & Associates. K2 & Associates is a direct 66.5% owned subsidiary of SKI, and is the investment manager of the Fund

Item 2(b). Address of Principal Business Office or, if None, Residence:

The address of the principal business office of each of the Reporting Persons is 2 Bloor St West, Suite 801, Toronto, Ontario, M4W 3E2

Item 2(c). Citizenship:

Mr. Gosselin is a citizen of Canada.

The Fund is an Ontario limited partnership.

Each of SKI and GenPar 2017 Inc and K2 & Associates is an Ontario corporation.

Item 2(d). Title of Class of Securities:

Class A Ordinary Shares

Item 2(e). CUSIP Number:

G0542N115

CUSIP No.  G0542N115 Schedule 13G Page 7 of 12 Pages

Item 3. If this statement is filed pursuant to §§ 240.13d-1(b), or 240.13d-2(b) or (c), check whether the person filing is a:

(a) ¨   Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o);

(b) ¨   Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c);

(c) ¨   Insurance company defined in Section 3(a)(19) of the Act (15 U.S.C. 78c);

(d) ¨   Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);

(e) ¨   An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);

(f) ¨     An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);

(g) ¨    A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);

(h) ¨    A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

(i) ¨    A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act (15 U.S.C. 80a-3);

(j) ¨    A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J);

(k) ¨    Group, in accordance with § 240.13d-1(b)(1)(ii)(K).

If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:________________.

CUSIP No.  G0542N115 Schedule 13G Page 8 of 12 Pages

Item 4. Ownership:

Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.

The K2 Principal Fund, L.P.

(a)	Amount beneficially owned:	657,7361
(b)	Percent of class:	4.58%1
(c)	Number of shares as to which the person has:

(i)	Sole power to vote or direct the vote:	0
(ii)	Shared power to vote or direct the vote:	657,7361
(iii)	Sole power to dispose or direct the disposition of:	0
(iv)	Shared power to dispose or direct the disposition of:	657,7361

K2 Genpar 2017 Inc.

(a)	Amount beneficially owned:	657,7361
(b)	Percent of class:	4.58%1
(c)	Number of shares as to which the person has:

(i)	Sole power to vote or direct the vote:	0
(ii)	Shared power to vote or direct the vote:	657,7361
(iii)	Sole power to dispose or direct the disposition of:	0
(iv)	Shared power to dispose or direct the disposition of:	657,7361

SHAWN KIMEL INVESTMENTS, INC.

(a)	Amount beneficially owned:	657,7361
(b)	Percent of class:	4.58%1
(c)	Number of shares as to which the person has:

(i)	Sole power to vote or direct the vote:	0
(ii)	Shared power to vote or direct the vote:	657,7361
(iii)	Sole power to dispose or direct the disposition of:	0
(iv)	Shared power to dispose or direct the disposition of:	657,7361

CUSIP No.  G0542N115 Schedule 13G Page 9 of 12 Pages

K2 & Associates Investment Management Inc..

(a)	Amount beneficially owned:	657,7361
(b)	Percent of class:	4.58%1
(c)	Number of shares as to which the person has:

(i)	Sole power to vote or direct the vote:	0
(ii)	Shared power to vote or direct the vote:	657,7361
(iii)	Sole power to dispose or direct the disposition of:	0
(iv)	Shared power to dispose or direct the disposition of:	657,7361

¹ The Class A Ordinary Shares (the "Shares") of Aries I Acquisition Corporation, a blank check company incorporated as a Cayman Islands exempted company (the "Issuer"), 607,736 of the outstanding position is reported herein are held in the form of units (the "Units"). Each Unit consists of one Share and one-half of one redeemable warrant. Each redeemable warrant entitles the holder thereof to purchase one Share upon the consummation of the Issuers initial business combination ("Initial Business Combination"), as described in more detail in the Issuers Prospectus filed with the SEC on May 20, 2021. Each warrant will become exercisable on the later of one year after the effective date of the Prospectus or thirty days after the completion of an Initial Business Combination and will expire five years after the completion of an Initial Business Combination, or earlier upon redemption or liquidation. In accordance with Rule 13d-3(d)(1) regarding securities which represent a right to acquire an underlying security, each Unit has been reported herein as representing the beneficial ownership of one (1) Share. 50,000 of the outstanding position are Founder shares³

² Founder shares that are currently classified as Class B ordinary shares, which shares will automatically convert into Class A ordinary shares concurrently with or immediately following the consummation of the initial business combination on a one-for-one basis, subject to adjustment as described further in the issuers prospectus adjacent to the caption "Founder shares conversion and anti-dilution rights."

The percentages used in this Schedule 13G are calculated based upon 14,375,000 Class A ordinary shares issued and outstanding as of June 30, 2021, as reported in the companies 10-Q filed with the SEC on July 2, 2021.

Item 5.         Ownership of Five Percent or Less of a Class.

If this statement is being filed to report the fact that as of the date hereof the Reporting Persons have ceased to be the beneficial owner of more than five percent of the class of securities, check the following [X]

Item 6.         Ownership of More Than Five Percent on Behalf of Another Person.

Not applicable.

Item 7.         Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company.

Not applicable.

Item 8.         Identification and Classification of Members of the Group.

Not applicable.

CUSIP No.  G0542N115 Schedule 13G Page 10 of 12 Pages

Item 9.         Notice of Dissolution of Group.

Not applicable.

Item 10.        Certification.

Each of the Reporting Persons hereby makes the following certification:

By signing below each Reporting Person certifies that, to the best of his or its knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

CUSIP No.  G0542N115 Schedule 13G Page 11 of 12 Pages

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct.

Dated: July 2, 2021

THE K2 PRINCIPAL FUND, L.P.
By:	K2 Genpar 2017 Inc., its General Partner
By:	/s/ Daniel Gosselin
	Daniel Gosselin
	Secretary
K2 Genpar 2017 Inc.
By:	/s/ Daniel Gosselin
	Daniel Gosselin
	Secretary
SHAWN KIMEL INVESTMENTS, INC.
By:	/s/ Daniel Gosselin
	Daniel Gosselin
	President
/s/ Daniel Gosselin
K2 & ASSOCIATES INVESTMENT MANAGEMENT INC.
By:	/s/ Daniel Gosselin
	Daniel Gosselin
	President

The original statement shall be signed by each person on whose behalf the statement is filed or his authorized representative. If the statement is signed on behalf of a person by his authorized representative (other than an executive officer or general partner of this filing person), evidence of the representative's authority to sign on behalf of such person shall be filed with the statement, provided, however, that a power of attorney for this purpose which is already on file with the Commission may be incorporated by reference. The name and any title of each person who signs the statement shall be typed or printed beneath his signature.

Attention: Intentional misstatements or omissions of fact constitute Federal criminal violations (See 18 U.S.C. 1001).

CUSIP No.  G0542N115 Schedule 13G Page 12 of 12 Pages

Exhibit 1

JOINT FILING AGREEMENT PURSUANT TO RULE 13d-1(k)

The undersigned acknowledge and agree that the foregoing statement on Schedule 13G is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on Schedule 13G shall be filed on behalf of each of the undersigned without the necessity of filing additional joint filing agreements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him or it contained herein and therein, but shall not be responsible for the completeness and accuracy of the information concerning the others, except to the extent that he or it knows or has reason to believe that such information is inaccurate.

Date: July 2, 2021

THE K2 PRINCIPAL FUND, L.P.
By:	K2 Genpar 2017 Inc., its General Partner
By:	/s/ Daniel Gosselin
	Daniel Gosselin
	Secretary
K2 Genpar 2017 Inc.
By:	/s/ Daniel Gosselin
	Daniel Gosselin
	Secretary
SHAWN KIMEL INVESTMENTS, INC.
By:	/s/ Daniel Gosselin
	Daniel Gosselin
	Vice President
K2 & ASSOCIATES INVESTMENT MANAGEMENT INC.
By:	/s/ Daniel Gosselin
	Daniel Gosselin
	President