Spring Valley Acquisition shareholders voted in favor of the business combination with NuScale Power, a nuclear power company.
The transaction is expected to raise approximately $380 million from a combination of Spring Valley trust proceeds and PIPE commitments. Spring Valley had announced share redemptions of 37.5% ahead of yesterday’s vote.
The merger is expected to close May 2, subject to the satisfaction or waiver of all closing conditions.
NuScale Power Corporation is expected to begin trading May 3 on the NYSE under the ticker symbols SMR for common stock and SMR WS for warrants. Until the transfer is complete, Spring Valley common stock, warrants and units will continue to trade under the ticker symbols SV, SVSVW and SVSVU, respectively, on the Nasdaq. Read more.
