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AAC

Ares Acquisition Corporation

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Ares Acquisition Corp. (AAC) and X-Energy Reactor Company have mutually agreed to terminate their previously announced business combination agreement. This has led to an increase in AAC's share price.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 3:13 pm

X-Energy Reactor Company and Ares Acquisition Corporation (AAC) have mutually agreed to terminate their business combination agreement. Consequently, the extraordinary general meeting of AAC shareholders scheduled for October 31, 2023, to approve the proposed transaction will be adjourned indefinitely. AAC anticipates that the last day of trading in the Public Shares will be November 6, 2023.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 11:43 am

X-Energy Reactor Company and the U.S. Department of Energy (DOE) have signed a cooperative agreement to advance the development of a mobile microreactor design. The agreement supports X-energy's work on the preliminary design of its transportable nuclear power plant. The DOE has awarded approximately $2.5 million to X-energy for this project. The Department of Defense (DOD) has also expanded its agreement with X-energy to develop a cost-effective design for a transportable advanced nuclear microreactor prototype for use in remote military locations.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 9:21 pm

Ares Acquisition (AAC) and X-Energy Reactor Company, LLC have announced the effectiveness of their registration statement and an extraordinary general meeting scheduled for October 31, 2023, to approve their business combination.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 10:33 am

Energy Northwest and X-energy have signed a joint development agreement for the Xe-100 Advanced Small Modular Reactor Project. The first module is expected to be online by 2030. X-energy previously entered into a business combination agreement with Ares Acquisition Corporation (NYSE:AAC).

Portfolio Pulse from Benzinga Newsdesk

July 19, 2023 | 10:40 am

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.

Portfolio Pulse from Nabaparna Bhattacharya

June 12, 2023 | 12:53 pm

X-energy and Ares Acquisition (AAC) have revised their business combination terms, reducing X-energy's pre-money equity value from $2.1 billion to $1.8 billion. The companies believe this change will create a more attractive entry point for investors and reinforce long-term value creation.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2023 | 10:32 am

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