Background
Understanding X-energy’s nuclear reactor technology, its technological advantages, and the related risks and market opportunities for the organization was central to this engagement. Given the specialized nature of this engagement, the Ocean Tomo team recognized this as an opportunity to collaborate with several technical experts from our parent company, J.S. Held. Our technical experts in nuclear, energy markets, and small modular reactors (SMRs) made significant contributions to this engagement; and the X-energy transaction demonstrates the benefit of our firm’s multi-disciplinary approach to client engagements, combining our financial, technical, and intellectual property expertise.
Engagement
Ocean Tomo’s role as financial advisor on this transaction included not only a strategic assessment of X-energy’s go-to-market plans, but also an analysis of the Company’s technology and intellectual property. The multi-disciplinary team’s ability to analyze both the technology and strategy allowed us to provide a robust Fairness Opinion to the Board of Directors of Ares Acquisition Corporation.
Results
Ocean Tomo, a part of J.S. Held, served as financial advisor to the Special Committee of the Board of Directors of Ares Acquisition Corporation, supporting the acquisition of X-energy at a pre-money valuation of approximately $2B.