Spring Valley Acquisition II in a regulatory filing said shareholders approved moving its deadline back to October 2025 in monthly increments, although redemptions took a bite out of the trust. If the full extension period is required, the new deadline would mark the third anniversary of the SPAC's ipo.
In return for the additional time to work on a deal, the sponsor will make monthly deposits of $150,000 into trust.
Redemptions removed almost $91 million from the trust, leaving just under $159 million.
The SPAC originally raised $230 million 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.
Source: Spring Valley II Wins Extension to October '25 as Redempions Hit About 36%