Transaction expected to near on May 2, 2022, generating about $380 million in gross proceeds
NuScale Electric power Corporation will start off trading on the New York Inventory Exchange beneath the ticker symbols “SMR” and “SMR WS”
DALLAS, April 28, 2022–(Small business WIRE)–Spring Valley Acquisition Corp. (Nasdaq: SV, SVSVW) (“Spring Valley”), a publicly-traded special reason acquisition enterprise, declared currently that in a distinctive conference (the “Particular Meeting”) on April 28, 2022, its shareholders voted to approve the proposed enterprise blend (“the Company Mixture”) with NuScale Energy, LLC (“NuScale” or the “Corporation”).
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The transaction is predicted to elevate somewhere around $380 million from a blend of Spring Valley belief proceeds and private investment decision in public equity (“PIPE”) commitments.
The Enterprise Mixture is envisioned to near on May perhaps 2, 2022, topic to the pleasure or waiver of all closing conditions. As element of the Small business Combination, Spring Valley will change its title to NuScale Power Corporation (“NuScale Corp.”). Trading is anticipated to get started on the New York Stock Exchange on May 3, 2022, below the ticker symbols “SMR” for NuScale typical inventory and “SMR WS” for NuScale warrants. Right until the transfer is comprehensive, the Spring Valley typical inventory, warrants and units will keep on to trade underneath the ticker symbols “SV”, “SVSVW” and “SVSVU”, respectively, on NASDAQ.
A Form 8-K disclosing the whole voting results has been submitted with the Securities and Trade Fee (the “SEC”).
About Spring Valley Acquisition Corp.
Spring Valley Acquisition Corp. (NASDAQ: SV, SVSVW) is a unique reason acquisition company shaped for the purpose of moving into into a merger or similar enterprise blend with a single or extra firms or entities concentrating on sustainability, which includes clean power and storage, intelligent grid/efficiency, environmental expert services and recycling, mobility, h2o and wastewater management, sophisticated products and technology enabled expert services. Spring Valley’s sponsor is supported by Pearl Electricity Investment Administration, LLC, a Dallas, Texas primarily based financial investment firm with $1.2 billion of dedicated money below management, which focuses on partnering with most effective-in-class management groups to make investments in the North American electricity and sustainability sectors.
About NuScale Electric power
NuScale Electricity is poised to satisfy the various energy demands of shoppers throughout the planet. It has developed a new modular gentle water reactor nuclear power plant to offer strength for electrical era, district heating, desalination, hydrogen generation and other system heat purposes. The groundbreaking NuScale Power Module™ (NPM), a little, safe pressurized h2o reactor, can create 77 MWe of electrical energy and can be scaled to meet up with customer demands. The VOYGR™-12 electricity plant is capable of generating 924 MWe, and NuScale also presents the 4-module VOYGR-4 (308 MWe) and six-module VOYGR-6 (462 MWe) and other configurations dependent on shopper needs. The greater part trader in NuScale is Fluor Corporation, a worldwide engineering, procurement, and construction business with a 70-yr background in professional nuclear electricity.
NuScale is headquartered in Portland, OR and has places of work in Corvallis, OR Rockville, MD Charlotte, NC Richland, WA and London, Uk. Follow us on Twitter: @NuScale_Electrical power, Fb: NuScale Power, LLC, LinkedIn: NuScale-Electrical power, and Instagram: nuscale_electricity. Check out NuScale Power’s internet site.
No Offer or Solicitation
This launch does not represent an offer you to market or a solicitation of an provide to get, or the solicitation of any vote or approval in any jurisdiction in connection with the Company Combination amid Spring Valley and NuScale or any connected transactions, nor shall there be any sale, issuance or transfer of securities in any jurisdiction exactly where, or to any person to whom, these kinds of present, solicitation or sale may possibly be illegal. Any offering of securities or solicitation of votes about the Enterprise Mix will be made only by means of a proxy statement/prospectus that complies with relevant procedures and polices promulgated below the Securities Act of 1933, as amended (the “Securities Act”), and Securities Exchange Act of 1934, as amended, or pursuant to an exemption from the Securities Act or in a transaction not matter to the registration specifications of the Securities Act.
Forward Seeking Statements
This launch might incorporate “forward-looking statements” in just the this means of the “safe and sound harbor” provisions of the United States Non-public Securities Litigation Reform Act of 1995. Ahead-wanting statements may be recognized by the use of words and phrases these as “estimate,” “plan,” “challenge,” “forecast,” “intend,” “will,” “count on,” “foresee,” “believe,” “seek out,” “focus on” or other equivalent expressions that predict or show potential functions or developments or that are not statements of historic points. These ahead-searching statements are inherently issue to threats, uncertainties and assumptions. True results may possibly differ materially as a final result of a variety of variables. Caution must be exercised in relying on these and other ahead-on the lookout statements. Because of to known and unfamiliar dangers, NuScale’s benefits may vary materially from its expectations and projections. While NuScale may elect to update these ahead-wanting statements at some stage in the upcoming NuScale specifically disclaims any obligation to do so. These forward-on the lookout statements really should not be relied upon as representing NuScale’s assessments of any date subsequent to the date of this release. Accordingly, undue reliance need to not be positioned on the forward-hunting statements.
Additional Data and Where by to Uncover It
The Registration Statement that Spring Valley has filed with the SEC involves a proxy assertion/prospectus and selected other related files, which has been dispersed to holders of Spring Valley’s Course A regular shares in connection with Spring Valley’s solicitation of proxies for the vote by the Spring Valley shareholders with respect to the Organization Mixture and other matters as explained in the proxy statement/prospectus. Spring Valley mailed a definitive proxy assertion/prospectus to the Spring Valley shareholders as of the shut of business enterprise on March 25, 2022, which is the file day set up in link with Spring Valley’s solicitation of proxies for the vote on the Company Mixture and other issues that ended up offered at the particular conference of Spring Valley shareholders. Spring Valley shareholders and other intrigued get-togethers are urged to read the definitive proxy assertion/prospectus, any amendments thereto and any other documents submitted with the SEC cautiously and in their entirety when they turn into readily available since they will incorporate important info about Spring Valley, NuScale and the Enterprise Blend. Shareholders could also get a copy of the proxy statement/prospectus, as perfectly as other files filed with the SEC relating to the Business enterprise Combination and other documents filed with the SEC by Spring Valley, without demand, at the SEC’s web site found at www.sec.gov. A connection to the Registration Statement, as very well as other information and facts related to the transaction, can be located on the “Investors” portion of NuScale’s web page at www.nuscalepower.com/about-us/buyers.
Expense IN ANY SECURITIES Described HEREIN HAS NOT BEEN Accepted OR DISAPPROVED BY THE SEC OR ANY OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY Handed On OR ENDORSED THE Deserves OF THE Presenting OR THE Accuracy OR ADEQUACY OF THE Facts CONTAINED HEREIN. ANY Illustration TO THE Contrary IS A Legal OFFENSE.
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Contacts pertaining to the Enterprise Mix
Gary Dvorchak, The Blueshirt Team for NuScale
Diane Hughes, NuScale