Brief: X-Energy To Go Public Via Business Combination With Ares Acquisition Corporation

Ares Acquisition

06/12/2022 11:37

Dec 6 (Reuters) - Ares Acquisition Corp  AAC.N :
    * X-ENERGY, A LEADING DEVELOPER OF SMALL MODULAR NUCLEAR
REACTOR
AND FUEL TECHNOLOGY FOR CLEAN ENERGY GENERATION, TO GO PUBLIC
VIA BUSINESS COMBINATION WITH ARES ACQUISITION CORPORATION
    * ARES ACQUISITION CORP - BUSINESS COMBINATION ASCRIBES A
PRE-MONEY EQUITY VALUE OF APPROXIMATELY $2.0 BILLION TO X-ENERGY
    * ARES ACQUISITION CORP - ESTIMATED PRE-MONEY EQUITY VALUE
OF
APPROXIMATELY $2 BILLION FOR X-ENERGY
    * ARES ACQUISITION CORP - EXISTING X-ENERGY EQUITY HOLDERS
WILL
ROLL 100% OF THEIR EXISTING EQUITY INTERESTS INTO COMBINED
COMPANY
    * ARES ACQUISITION CORP - EXISTING X-ENERGY EQUITY HOLDERS
ROLLING
100% OF THEIR INTERESTS INTO COMBINED COMPANY
    * ARES ACQUISITION CORP - INSTITUTIONAL AND STRATEGIC
INVESTORS
HAVE ALSO INVESTED OR COMMITTED $120 MILLION IN FINANCING
    * ARES ACQUISITION CORP - COMBINED COMPANY WILL BE NAMED
X-ENERGY,
INC.

Source text for Eikon:  ID:nBw6bjZyHa 
Further company coverage:  AAC.N