Spring Valley Acquisition Corp. IV, a Cayman Islands SPAC, completed its IPO and is still pre-revenue. On February 11, 2026 it sold 23,000,000 units at $10.00 each, placing $230,000,000 into a trust account to fund a future business combination.
As of March 31, 2026, total assets were $232.3 million, including $231.1 million in trust investments and $1.1 million in cash. The company reported net income of $890,303, driven by $1,075,102 of interest on trust assets and offset by formation, general and administrative costs. There are 23,000,000 Class A shares redeemable at approximately $10.04 per share and 7,666,667 Class B founder shares outstanding, plus 12,796,111 warrants. Management believes current cash resources are sufficient to fund operating needs while it seeks a business combination within the 24‑month deadline.
Spring Valley Acquisition Corp. IV Schedule 13G reports that Adage Capital Management, L.P., together with Robert Atchinson and Phillip Gross, beneficially hold 1,800,000 Class A ordinary shares, representing 7.83% of the class based on 23,000,000 Class A Ordinary Shares outstanding as of February 11, 2026. The filing attributes shared voting and dispositive power over those shares to the Reporting Persons and provides the Reporting Persons' business address in Boston.