AAC shareholders approve extension to Nov 6 for X-energy merger; ~$14.7M redeemed

Ares Acquisition Corp

Shareholders approved extension of business combination deadline from Aug 4 to Nov 6, 2023.
1,392,821 Class A shares redeemed at ~$10.58/share, removing ~$14.7M from trust.
Trust account post-redemption: ~$482.4M; Class A shares outstanding: 45,604,260.
Sponsor to make monthly deposits of $0.0255/share into trust until Nov 6 or merger close.
Business combination with X-energy expected to close in Q3 2023.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Ares Acquisition Corp: Extended the deadline to consummate a business combination from August 4, 2023 to November 6, 2023 (effective 2023-08-01).

Change: charter amendment
Effective: 2023-08-01

Exact text from the filing

On August 1, 2023, Ares Acquisition Corporation (“ AAC ” or the “ Company ”) held an extraordinary general meeting (the “ Shareholder Meeting ”) at which the Company’s shareholders approved a proposal to amend the Company’s amended and restated memorandum and articles of association (as amended, the “ Memorandum and Articles of Association ”) to extend the date by which the Company has to consummate a business combination (the “ Charter Extension ”) from August 4, 2023 to November 6, 2023, or such earlier date as the Company’s board of directors may approve in accordance with the Memorandum and Articles of Association (the “ Extension Amendment Proposal ”).

View on SEC.gov

Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Ares Acquisition Corp shareholders approved Extension Amendment Proposal.

Outcome: passed

Exact text from the filing

The shareholders approved the Extension Amendment Proposal and the voting results for the proposal were as follows: The Extension Amendment Proposal Proposal No. Ordinary Shares Votes For Ordinary Shares Votes Against Ordinary Shares Abstentions 1. 61,940,182 7,516 3,276

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Source: SEC EDGAR

accession 0001193125-23-200677

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