Advanced nuclear reactor company X-energy will become a publicly-traded company after a business combination agreement with special-purpose acquisition company Ares Acquisition Corporation.
The merger with Ares Acquisition Corp. would value X-energy at about $2 billion, according to the Dec. 6 announcement. The deal, expected to close in the second quarter of 2023, would generate cash proceeds of about $1 billion for X-energy from the trust account of Ares, assuming no redemptions.
