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SPAC · Merger completed

Spring Valley Acquisition Corp.

Business combination with NuScale Power, LLC

Spring Valley Acquisition Corp. is a blank-check company (SPAC) that raised $200M in its initial public offering on Nov 25, 2020, listing on Nasdaq Capital Market. It completed its business combination with NuScale Power, LLC on May 2, 2022; the combined company is NuScale Power Corporation (SMR). TD Cowen led the IPO, with Wells Fargo and Drexel Hamilton. Kirkland & Ellis advised the SPAC and A&O Shearman advised the underwriters on the IPO.

NuScale Power has developed a modular light water nuclear power plant for electricity generation, district heating, desalination and hydrogen production. Its NuScale Power Module is a small pressurized water reactor of 77 MWe, and Fluor is the majority investor; headquarters are in Portland, Oregon.

Status
Merger completed
IPO date
Nov 25, 2020
IPO size
$200M
IPO exchange
Nasdaq Capital Market
Target
NuScale Power, LLC
Announced
Dec 14, 2021
Closed
May 2, 2022
Combined company
NuScale Power Corporation (SMR)
IPO underwriters
TD Cowen, Wells Fargo, Drexel Hamilton and Siebert Williams Shank
SPAC counsel (IPO)
Kirkland & Ellis and Maples and Calder
Underwriters' counsel (IPO)
A&O Shearman

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