Spring Valley Acquisition II in a press release said if shareholders approve a deadline extension at the Jan. 10 meeting the SPAC will arrange for the deposit of up to $150,000. The proposal calls for moving the termination date back to Octobewr 2025, which would be three years post-IPO.
A separate proposal would modify the vesting period for a portion of the founder shares.
The SPAC raised $230 million in an IPO to target companies in the sustainability industry, including renewable energy, resource optimization, environmental services, and grid infrastructure.
The first Spring Valley SPAC completed a merger with NuScale Power in May 2022. Read more.
