SVAC enters definitive business combination with fusion company General Fusion at $600M valuation

Spring Valley Acquisition Corp. III

SVAC to issue ~60M shares to General Fusion equityholders; valuation $600M.
PIPE financing of 10.6M units at $10.20/unit from accredited investors, each unit includes convertible preferred and a warrant at $12.00.
Sponsor forfeits 1M founder shares, receives 1M earnout shares; up to 12.5M total earnout shares with $15/$20/$25 triggers.
Lock-up: 180 days for target securityholders; 6 months for sponsor; outside closing date extended to Aug 31, 2026.
Name change to General Fusion Inc. and continuation from Cayman to British Columbia expected at closing.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Spring Valley Acquisition Corp. III entered into Business Combination Agreement with General Fusion Inc. and 1573562 B.C. Ltd. (effective 2026-01-21).

Action: entry
Agreement: merger
Counterparty: General Fusion Inc. and 1573562 B.C. Ltd.
Effective: 2026-01-21

Exact text from the filing

On January 21, 2026, Spring Valley Acquisition Corp. III, an exempted company limited by shares incorporated under the Laws of the Cayman Islands (“ SVIII ”), entered into a Business Combination Agreement (the “ Business Combination Agreement ”) with General Fusion Inc., a British Columbia limited company (the “ Company ” or “ General Fusion ”), and 1573562 B.C. Ltd., a British Columbia limited company (“ NewCo ”).

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Spring Valley Acquisition Corp. III filing history →

Source: SEC EDGAR

accession 0001104659-26-006283

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