Spring Valley Acquisition Corp. III Announces Closing of $230 Million Initial Public Offering
Rhea-AI Summary
Spring Valley Acquisition Corp. III (NASDAQ:SVACU) has successfully completed its initial public offering, raising $230 million in gross proceeds through the sale of 23 million units at $10.00 per unit. The offering includes the full exercise of the underwriters' overallotment option for 3 million additional units.
Each unit comprises one Class A ordinary share and one-third of one redeemable public warrant. Whole warrants allow holders to purchase Class A ordinary shares at $11.50 per share. The units began trading on Nasdaq under "SVACU" on September 4, 2025, with the Class A shares and warrants expected to trade separately under "SVAC" and "SVACW" respectively.
The blank check company aims to pursue a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination.
Positive
- Successfully raised $230 million in gross proceeds from IPO
- Full exercise of underwriters' overallotment option, indicating strong demand
- Listing on major exchange (Nasdaq Global Market)
Negative
- No specific target business identified yet
- Investment subject to typical SPAC risks and uncertainties
Insights
Spring Valley Acquisition Corp. III successfully raised $230M through its IPO, positioning it to pursue acquisitions in an undisclosed sector.
Spring Valley Acquisition Corp. III has successfully completed its
The company is structured as a Special Purpose Acquisition Company (SPAC), also known as a "blank check company," designed specifically to raise capital through an IPO for the purpose of acquiring an existing private business. Each unit sold consists of one Class A ordinary share plus one-third of a redeemable warrant, with each whole warrant allowing purchase of an additional share at
Unlike traditional IPOs where the business already exists, SPAC investors are essentially placing trust in the management team's ability to identify and execute a valuable business combination within a typical timeframe of 18-24 months. If the SPAC fails to complete an acquisition within this window, the raised funds are typically returned to investors.
The securities began trading on September 4 under the ticker symbol "SVACU." Once the units split, the shares and warrants will trade separately under "SVAC" and "SVACW" respectively. Cohen & Company Capital Markets led the offering, with Clear Street LLC serving as joint book-runner.
This SPAC IPO comes amid fluctuating market conditions for blank check companies, which have seen waves of popularity and skepticism over recent years. Notably, Spring Valley's press release does not specify which industry or business sector they intend to target for acquisition.
DALLAS, Sept. 05, 2025 (GLOBE NEWSWIRE) -- Spring Valley Acquisition Corp. III (the “Company”), a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, announced the closing of its initial public offering of 23,000,000 units at a price of
The units began trading on The Nasdaq Global Market (“Nasdaq”) under the ticker symbol “SVACU” on September 4, 2025. Each unit consists of one Class A ordinary share of the Company and one-third of one redeemable public warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share of the Company at a price of
Cohen & Company Capital Markets, a division of Cohen and Company Securities, LLC, acted as lead book-running manager, and Clear Street LLC acted as joint book-runner.
The public offering was made only by means of a prospectus. Copies of the prospectus relating to the offering may be obtained from Cohen & Company Capital Markets, 3 Columbus Circle, 24th Floor, New York, NY 10019, Attention: Prospectus Department, or by email at: capitalmarkets@cohencm.com.
A registration statement relating to the securities became effective on September 3, 2025. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements,” including with respect to the anticipated use of the net proceeds from the offering. No assurance can be given that the net proceeds of the offering will be used as indicated, or that the Company will ultimately complete a business combination transaction. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and preliminary prospectus for the Company’s offering filed with the U.S. Securities and Exchange Commission (the “SEC”). Copies of these documents are available on the SEC’s website, at www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Contact
Spring Valley Acquisition Corp. III
www.sv-ac.com
Robert Kaplan
Investors@sv-ac.com
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