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
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
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.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100