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      Spring Valley Acquisition Corp. (SV) stock extending gains today: Here’s Why - Stocks Telegraph

      By Muhammad Ali

      Published on

      December 15, 2021

      3:29 PM UTC

      Last Updated on

      December 15, 2021

      3:33 PM UTC

      Spring Valley Acquisition Corp. (SV) stock extending gains today: Here’s Why - Stocks Telegraph

      Shares of the Spring Valley Acquisition Corp. (SV) stock were rising in the current market trading session today on December 15, 2021. SV stock price saw a push of 1.60% to reach $10.15 a share as of this writing. The stock was also green in the previous trade and went up by 0.40% at closing. Let’s take a closer look at this stock to understand the bullish sentiment.

      What’s Happening?

      SV stock became hot among investors after the news appeared that Spring Valley has signed the definitive business combination agreement with NuScale Power, LLC. In order to power the global energy transition, it is necessary to deliver safe, reliable, and scalable carbon-free nuclear power. This agreement indicates that Spring Valley is on a mission to achieve this goal by creating a first-of-its-kind company.

      For your intuition, Spring Valley Acquisition Corp is a special purpose acquisition company based in Dallas, Texas. SV stock currently has a market cap of $287.21 million and 278,190 average trading volume.

      Agreement Terms:

      According to the agreement terms, the estimated pro forma enterprise value for this transaction is $1.9 billion. The estimated gross proceeds for NuScale are $413 million which also includes fully committed private investment in public equity by DS Private Equity, Samsung C&T Corporation, Segra Capital Management, and Pearl Energy. The gross proceeds will help NuScale in financing its path to commercialization.

      Fluor will control 60% of the combined company upon completion of the transaction. The existing shareholders will retain equity in NuScale by rolling it into the combined company. The transaction is expected to close within the first six months of 2021.

      Previous event of SV stock:

      On October 14, 2021, the previously announced agreement, and a plan of merger between SV stock and Dream Holdings, Inc were terminated. The termination of the agreement is the mutual decision of both companies. Thus neither of the company paid the termination fee to the other company. The management of the SV stock wishes to consummate the initial business combination before the dissolution deadline of May 27, 2022. Previously on August 13, 2021, the company announced the shareholder approval for a business combination with AeroFarms.

      Wrap Up:

      Things are going well for SV stock so far as the sentiment is positive in the social media platforms for this stock. It would be interesting to see how long it will persist as the stock market is highly unpredictable. From an investment perspective, investors need to know the nitty-gritty of this stock before making any decision.

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