Ropes & Gray Represents Capital Markets Advisors to Ares Acquisition Corporation in Business Combination with X Energy Reactor Company
Ropes & Gray represented UBS Securities LLC and Citigroup Global Markets Inc. as capital markets advisors to Ares Acquisition Corporation, a publicly-traded special purpose acquisition company, in a business combination agreement with X Energy Reactor Company, LLC, a leading developer of small modular nuclear reactors and fuel technology for clean energy generation. The transaction was announced on December 6.
The combination will establish X-energy as a publicly-traded, developer of a more advanced small modular reactor and proprietary fuel that supports the transition to clean, affordable energy through enhanced safety, lower cost, scalability and broader industrial applications. X-energy’s entry into the public markets is expected to accelerate its growth strategy through additional investment opportunities and financial flexibility as well as differentiated sponsorship by Ares Management Corporation, a leading global alternative investment manager.
The Ropes & Gray team was led by capital markets partner Paul Tropp and included capital markets senior attorney Paul Kellogg.