The Latest SPAC News and Rumors: March 13, 2023


The Latest SPAC News and Rumors: March 13, 2023

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. 

Latest SPAC News:  TRISO-X completes fuel test to power nuclear thermal propulsion in space and Arrival expects annual losses as high as $1B

TRISO-X Successfully Completes Fuel Test to Power Nuclear Thermal Propulsion in Space

TRISO-X LLC a wholly owned subsidiary of X-Energy Reactor Company, LLC that primarily develops and designs tri-structural isotropic particle fuel, today announced the successful test of its coated particle fuel for nuclear thermal propulsion applications, marking a major step toward a one-of-a-kind, nuclear-powered rocket.

As previously announced on December 6, 2022, X-energy entered into a definitive business combination agreement with Ares Acquisition Corporation (NYSE: AAC).


Arrival expects annual losses as high as £840 million 

Struggling EV vehicle startup Arrival (NASDAQ: ARVL) is predicting losses as high as $1.01bn (£840.7m) in its 2022 full-year results.

The unaudited accounts showed losses for the final quarter of 2022 are expected to fall between $588m and $597m.

Arrival, which was founded in Britain but listed on the US Nadaq exchange in 2021 through a merger with a special purpose acquisition company, is yet to report any revenue.