Next-generation battery developer SES AI‘s (NYSE: SES) shares were positively electric on Thursday. On news that the company had completed an important overseas acquisition, its share price climbed almost 22%. That was much greater than the 0.5% increase in the S&P 500 index.
Before market open that morning, SES AI had announced that its deal to purchase China’s UZ Energy had been completed. The two companies agreed at the end of July to a deal in which the American company would pay roughly $25.5 million, not taking into account a potential earnout adjustment based on financial performance.
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