Ares Acquisition, X-Energy Announce Strategic Update To Business Partnership Deal
Portfolio Pulse from Nabaparna Bhattacharya
Ares Acquisition Corporation (NYSE:AAC) and X-Energy Reactor Company have announced a strategic update to their business combination agreement, revising X-energy's pre-money equity value to $1.8 billion from $2.1 billion. The transaction is expected to close in summer 2023, with X-energy going public via its partnership with Ares Acquisition.
June 12, 2023 | 12:53 pm
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Ares Acquisition Corporation's partnership with X-Energy has been updated, revising X-energy's pre-money equity value to $1.8 billion. The transaction is expected to close in summer 2023.
The strategic update to the business partnership deal between Ares Acquisition Corporation and X-Energy may not have a significant short-term impact on AAC's stock price. However, the revised valuation and the expected closing of the transaction in summer 2023 could potentially influence the stock price in the long term.
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