X-Energy Reactor, Ares Acquisition Announce Strategic Update To Business Combination Terms

Under the amended terms, X-energy's pre-money equity value has been revised to $1.8 billion from approximately $2.1 billion. By establishing a more attractive entry point for investors, X-energy and AAC believe the revised valuation reinforces the long-term value creation opportunity for, and the companies' alignment with, shareholders. In December 2022, X-energy entered into a definitive business combination agreement with AAC.