secwatch.observer — SEC 8-K summary
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Issuer:     NUSCALE POWER Corp (SMR)
CIK:        0001822966
Form:       8-K
Filed at:   2023-03-10T23:59:59+00:00
Accession:  0001822966-23-000049
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NuScale amends CFPP deal: target cost to $89/MWh; new refund triggers, up to $81M restricted cash
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- Target electricity cost raised to $89/MWh from $58/MWh under DCRA Amendment 3.
- NuScale must refund development costs if 370 MWe subscription not secured by Feb 1, 2024 (currently 120 MWe).
- Aggregate reimbursement cap up to $66M (LLM) + $60M (DCRA) for failed economic test; up to $120M (DCRA) for cause termination.
- Up to $81M restricted cash required as letter of credit collateral by Dec 31, 2023.
- LLM Agreement caps Phase 1 long-lead material value at $49M; NuScale gets rights to LLM if refund triggered.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1822966/000182296623000049/0001822966-23-000049-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1822966/000182296623000049/smr-20230310.htm
  HTML page:      https://secwatch.observer/filing/0001822966-23-000049

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