Spring Valley in a news release said it has secured a $15 million commitment from Nucor, adding to the PIPE in support of the SPAC’s merger with nuclear power company NuScale.
In total since the merger announcement in December, $165 million of NuScale equity has been secured in PIPE commitments or sold at $10 per share, including $55 million in PIPE commitments and Fluor’s $110 million secondary sale to JBIC.
SailingStone Capital Partners last month committed to a $10 million PIPE investment, following the February announcement of the satisfaction of the previously disclosed contingency with respect to $30 million of the PIPE commitment from Samsung C&T Corporation which ensured that, pending satisfaction of remaining closing conditions, the minimum cash threshold for the business combination can be met. Read more.
