Here is a recap of industry happenings over the past month:
ADVANCED REACTOR MARKETPLACE
X-energy enters into agreement to become publicly traded company
X-energy, a developer of small modular reactors and nuclear fuel technology, has entered into a definitive business combination agreement with Ares Acquisition Corporation, a publicly traded special-purpose acquisition company. As a result of the agreement, X-energy will become a publicly traded company, a status that is expected to give a boost to its growth strategy, investment opportunities, and financial flexibility. In addition, X-energy will receive differentiated sponsorship by Ares Management Corporation, which describes itself as a “leading global alternative investment manager.” The existing equity holders of X-energy are expected to hold more than 60 percent of the issued and outstanding shares of the common stock of the combined company. The transaction is expected to be finalized in the second quarter of 2023.