Eagle Nuclear Energy Corp. Schedule 13G shows beneficial ownership disclosures by Spring Valley Acquisition Sponsor II, LLC, Christopher Sorrells and Supercycle Holdings LLC related to the issuer's common stock.
As described, Spring Valley formerly held 11,830,468 shares (including warrants exercisable into 9,422,133 shares) as of February 24, 2026, and Supercycle and Mr. Sorrells are reported as beneficial owners of 3,027,655 shares (including 1,315,130 shares issuable upon exercise of warrants) representing approximately 9.8% of outstanding shares as of April 22–24, 2026, reflecting a 9.8% exercise blocker on the warrants.
Positive
None.
Negative
None.
Insights
Beneficial ownership reorganized; a 9.8% blocker limits warrant exercises.
The filing records a transfer of securities from the Sponsor to its members and shows Supercycle and Christopher Sorrells holding a combined 3,027,655 shares, including warrants exercisable into 1,315,130 shares. The reported percentages use the issuer's disclosed outstanding share counts dated February and April 2026.
The warrants include a Beneficial Ownership Limitation (the "9.8% Blocker") preventing exercises that would increase ownership above 9.8%. Future exercise capacity therefore depends on this blocker and any 61‑day election to change it; cash‑flow treatment or exercise timing is not stated in the excerpt.
Key Figures
Reported beneficial ownership (Sponsor, Feb 24, 2026):11,830,468 sharesSupercycle/Sorrells reported ownership (Apr 24, 2026):3,027,655 sharesWarrants noted (total previously held by Sponsor):9,422,133 warrants+3 more
6 metrics
Reported beneficial ownership (Sponsor, Feb 24, 2026)11,830,468 sharesAggregate beneficial ownership including warrants as of <date>February 24, 2026</date>
Supercycle/Sorrells reported ownership (Apr 24, 2026)3,027,655 sharesIncludes 1,712,525 shares held directly and 1,315,130 issuable upon warrants
Warrants noted (total previously held by Sponsor)9,422,133 warrantsWarrants the Sponsor had the right to acquire as of February 24, 2026
Outstanding shares used (Feb 24, 2026)29,580,033 sharesShares outstanding cited for percentage calculations as of February 24, 2026
Outstanding shares used (Apr 22, 2026)29,579,313 sharesShares outstanding cited for percentage calculations as of April 22, 2026 (424(b)(4) Prospectus)
Beneficial Ownership Limitation9.8%Blocker preventing warrant exercises that would increase ownership above 9.8%
"9,422,133 shares the Sponsor had the right to acquire upon exercise of Warrants"
Warrants are special documents that give you the right to buy a company's stock at a set price before a certain date. They are often used as a way for companies to attract investors or raise money, and their value can increase if the company's stock price goes up.
Beneficial Ownership Limitationregulatory
"The Warrants include a blocker provision under which Supercycle does not have the right to exercise the Warrants to the extent"
A beneficial ownership limitation is a rule that caps the percentage of a company’s shares an investor can be treated as owning or controlling for voting, regulatory or tax purposes. It matters to investors because it can restrict how many shares a person or group can buy or vote, affect takeover chances, and influence share liquidity and value — like a speed limit that prevents any single driver from taking over the whole road.
9.8% Blockerregulatory
"gives effect to a 9.8% blocker (the "9.8% Blocker")"
424(b)(4) Prospectusregulatory
"as reported in the Issuer's 424(b)(4) Prospectus, filed by the Issuer with the SEC on April 24, 2026"
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Eagle Nuclear Energy Corp.
(Name of Issuer)
Common Stock, par value $0.0001 per share
(Title of Class of Securities)
269710109
(CUSIP Number)
02/24/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
269710109
1
Names of Reporting Persons
Spring Valley Acquisition Sponsor II, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
0.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person: Reflects beneficial ownership as of the date hereof. On February 24, 2026, the aggregate amount beneficially owned by the Sponsor was 11,830,468 shares of Common Stock, consisting of (i) 2,408,335 shares of Common Stock held directly by the Sponsor and (ii) 9,422,133 shares of Common Stock the Sponsor had the right to acquire upon exercise of Warrants. As of the date hereof, the Sponsor no longer beneficially owns any securities of the Issuer.
SCHEDULE 13G
CUSIP Number(s):
269710109
1
Names of Reporting Persons
Supercycle Holdings LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
3,027,655.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
3,027,655.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,027,655.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
9.8 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person: The aggregate amount beneficially owned by Supercycle Holdings LLC ("Supercycle") includes (i) 1,712,525 of the Issuer's shares of Common Stock (the "Common Stock") held by Supercycle and (ii) 1,315,130 shares of the Issuer's Common Stock Supercycle has the right to acquire upon exercise of warrants at a price of $11.50 per share (the "Warrants"). The percentage of the shares of Common Stock reported beneficially owned by Supercycle is based on 29,579,313 shares of Common Stock outstanding as of April 24, 2026, as reported in the Issuer's 424(b)(4) Prospectus, filed by the Issuer with the SEC on April 24, 2026. As more fully described in Item 4, the foregoing number of shares of Common Stock that may be issued pursuant to Warrants and the percentage of Common Stock beneficially owned gives effect to a 9.8% blocker (the "9.8% Blocker").
SCHEDULE 13G
CUSIP Number(s):
269710109
1
Names of Reporting Persons
Sorrells Christopher Dixon
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
3,027,655.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
3,027,655.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,027,655.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
9.8 %
12
Type of Reporting Person (See Instructions)
IN
Comment for Type of Reporting Person: (1) Reflects beneficial ownership as of the date hereof. On February 24, 2026, the aggregate amount beneficially owned by Mr. Sorrells was 11,830,468 shares, consisting of (i) 2,408,335 shares of Common Stock held directly by Spring Valley Acquisition Sponsor II, LLC (the "Sponsor") and (ii) 9,422,133 shares of Common Stock the Sponsor had the right to acquire upon exercise of the Warrants. On April 24, 2026, the Sponsor distributed all of its shares of Common Stock and Warrants to its members, including 1,712,525 shares of Common Stock and 6,699,917 Warrants to Supercycle, which Mr. Sorrells controls.
(2) As of the date hereof, the aggregate amount beneficially owned by Mr. Sorrells consists of (i) 1,712,525 shares of Common Stock held directly by Supercycle and (ii) 1,315,130 shares of Common Stock Supercycle has the right to acquire upon exercise of the Warrants. The percentage of the shares of Common Stock reported beneficially owned by Mr. Sorrells is based on 29,579,313 shares of Common Stock outstanding as of April 22, 2026, as reported in the Issuer's 424(b)(4) Prospectus, filed by the Issuer with the SEC on April 24, 2026. As more fully described in Item 4, the foregoing number of shares of Common Stock that may be issued pursuant to Warrants and the percentage of Common Stock beneficially owned gives effect to the 9.8% Blocker.
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Eagle Nuclear Energy Corp.
(b)
Address of issuer's principal executive offices:
5470 Kietzke Lane, Suite 300, Reno, NV 89511
Item 2.
(a)
Name of person filing:
This statement is filed by Spring Valley Acquisition Sponsor II, LLC (the "Sponsor"), Christopher Sorrells, and Supercycle Holdings LLC ("Supercycle" and, collectively, the "Reporting Persons"). Each of the Sponsor and Supercycle is controlled by Mr. Sorrells. Accordingly, all of the securities held by the Sponsor and Supercycle may be deemed to be beneficially held by Mr. Sorrells and have shared voting and dispositive power over such securities.
(b)
Address or principal business office or, if none, residence:
4030 Maple Avenue, Suite 500 Dallas, TX 75219
(c)
Citizenship:
With respect to the Reporting Persons, each of the Sponsor and Supercycle was formed under Delaware law, and Mr. Sorrells is a citizen of the United States of America.
(d)
Title of class of securities:
Common Stock, par value $0.0001 per share
(e)
CUSIP Number(s):
269710109
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
Items 6 through 9 and 11 of each of the cover page to this Schedule 13G are incorporated herein by reference. As of the date hereof, the Sponsor no longer beneficially owns any Common Stock. As of February 24, 2026, each of the Sponsor and Mr. Sorrells may have been deemed the beneficial owner of 11,830,468 shares of Common Stock, consisting of (i) 2,408,335 shares of Common Stock held directly by the Sponsor and (ii) 9,422,133 shares of Common Stock the Sponsor had the right to acquire upon exercise of the Warrants. As of the date hereof, the Sponsor does not beneficially own any Common Stock as it transferred all of its securities to its members, including a portion to Supercycle.
As of April 24, 2026, each of Supercycle and Mr. Sorrells may be deemed the beneficial owner of 3,027,655 Ordinary Shares, consisting of (i) 1,712,525 shares of Common Stock held directly by Supercycle and (ii) 1,315,130 shares of Common Stock that may be issued to Supercycle upon exercise of Warrants. Such amount does not include 5,384,787 Warrants to purchase 5,384,787 shares of Common Stock. The Warrants include a blocker provision under which Supercycle does not have the right to exercise the Warrants to the extent (but only to the extent) that such exercise would result in beneficial ownership by Supercycle, together with the Supercycle's affiliates, including Mr. Sorrells, and any other persons acting as a group together with Supercycle or any of the Supercycle's affiliates, of more than 9.8% (the "Beneficial Ownership Limitation") of the number of shares of Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issued upon exercise of such Warrants. The Beneficial Ownership Limitation may be changed at a holder's election upon 61 days' notice to the Issuer. Each Reporting Person disclaims beneficial ownership of the securities, except to the extent of its or his pecuniary interest in such securities, if any.
(b)
Percent of class:
As of February 24, 2026, each of Mr. Sorrells and the Sponsor may have been deemed the beneficial owner of approximately 30.3% of the Common Stock outstanding. This percentage is based on (i) 29,580,033 shares of Common Stock outstanding as of February 24, 2026, as reported on the Issuer's Form 8-K filed with the Commission on March 2, 2026, and (ii) 2,408,335 shares of Common Stock held directly by the Sponsor and 9,422,133 shares of Common Stock the Sponsor had the right to acquire upon exercise of Warrants.
As of April 24, 2026, each of Mr. Sorrells and Supercycle may be deemed the beneficial owner of approximately 9.8% of the Common Stock outstanding. This percentage is based on 29,579,313 shares of Common Stock outstanding as of April 22, 2026, as reported in the Issuer's 424(b)(4) Prospectus, filed by the Issuer with the SEC on April 24, 2026, and gives effect to the 9.8% Blocker.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
Supercycle Holdings LLC : 0
Christopher Sorrells: 0
Spring Valley Acquisition Sponsor II, LLC: 0
(ii) Shared power to vote or to direct the vote:
Supercycle Holdings LLC : 3,027,655
Christopher Sorrells: 3,027,655
Spring Valley Acquisition Sponsor II, LLC: 0
(iii) Sole power to dispose or to direct the disposition of:
Supercycle Holdings LLC : 0
Christopher Sorrells: 0
Spring Valley Acquisition Sponsor II, LLC: 0
(iv) Shared power to dispose or to direct the disposition of:
Supercycle Holdings LLC : 3,027,655
Christopher Sorrells: 3,027,655
Spring Valley Acquisition Sponsor II, LLC: 0
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
Not Applicable
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
What ownership does Christopher Sorrells report in NUCL?
Mr. Sorrells is reported as beneficially owning 3,027,655 shares of common stock, which the filing states represents approximately 9.8% based on 29,579,313 shares outstanding as of April 22, 2026. The total includes shares held directly and shares issuable upon exercise of warrants.
How many warrants are referenced in the NUCL filing?
The filing references a total of 9,422,133 warrants formerly held by the Sponsor and separately notes 1,315,130 warrants associated with Supercycle. The warrant exercises are subject to a 9.8% Beneficial Ownership Limitation under the filing.
What is the 9.8% blocker mentioned in the NUCL Schedule 13G?
The 9.8% blocker is a Beneficial Ownership Limitation preventing a holder from exercising warrants to the extent such exercise would increase beneficial ownership above 9.8% of outstanding common stock. The filing says a holder may change this limit with 61 days' notice.
What outstanding share counts does the filing use for percentage calculations?
Percentages are calculated using 29,580,033 shares outstanding as of February 24, 2026, and 29,579,313 shares outstanding as of April 22, 2026, per the filing and the issuer's 424(b)(4) Prospectus referenced in the disclosure.
