04:11 PM EDT, 09/05/2025 (MT Newswires) -- Spring Valley Acquisition (SVACU) said late Friday it closed its initial public offering of 23 million units at $10 a piece for gross proceeds of $230 million.

The offering includes 3 million units exercised in full by underwriters under an overallotment option, according to the company.

Each unit comprises a class A common share and one-third of one redeemable public warrant. Each warrant entitles a holder to buy a class A common share at $11.5 a share, the company said.

The units started trading on Nasdaq under the ticker "SVACU." The class A shares and warrants are expected to be listed under the tickers "SVAC" and "SVACW," respectively.