Spring Valley said it closed its $230 million IPO, including the exercise in full by the underwriters of their overallotment option to purchase 3,000,000 units, yielding $30 million for the SPAC.
The Dallas-based SPAC said it is “targeting companies focusing on sustainability, including clean energy and storage, smart grid/efficiency, environmental services and recycling, mobility, water and wastewater management, advanced materials and technology enabled services.” Spring Valley’s sponsor is an affiliate of Pearl, an investment firm that invests in the North American energy industry, typically targeting opportunities requiring $25 million to $100 million of equity capital.
Spring Valley units trade on the Nasdaq under “SVSVU”. Read more.
