US small modular reactor developer NuScale Power and Spring Valley Acquisition Corp have announced that California-based investment advisory firm SailingStone Capital Partners has committed to a $10m “private investment in public equity” as part of the NuScale-Spring Valley merger transaction, increasing the total commitment to $221m.
The merger is being handled through a Spac, or special purpose acquisition company. This type of merger typically requires minimum cash proceeds to the company that will assume the public listing. Those proceeds can be a combination of private investment (known as Pipe, for private investment in public equity) and money invested in the publicly traded Spac.
The merger is being handled through a Spac, or special purpose acquisition company. This type of merger typically requires minimum cash proceeds to the company that will assume the public listing. Those proceeds can be a combination of private investment (known as Pipe, for private investment in public equity) and money invested in the publicly traded Spac.
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