Spring Valley Acquisition III, a blank check company targeting the natural resources and decarbonization industries, filed on Wednesday with the SEC to raise up to $150 million in an initial public offering.
The company plans to raise $150 million by offering 15 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50.
The company is led by CEO and Chairman Christopher Sorrells, the former Lead Director for Renewable Energy Group (now part of Chevron) and a former Operating Partner for Natural Gas Partners' NGP Energy Technology Partners. Spring Valley Acquisition III plans to target the natural resources and decarbonization industries.
Management's previous SPACs include Spring Valley Acquisition II (SVII; +19% from $10 offer price), which has a pending merger agreement with uranium explorer and SMR developer Eagle Energy Metals, and Spring Valley Acquisition, which completed its combination with nuclear tech developer NuScale Power (NYSE: SMR; +359%) in 2022.
The Dallas, TX-based company was founded in 2025 and plans to list on the Nasdaq under the symbol SVACU. Spring Valley Acquisition III filed confidentially on July 3, 2025. Cohen & Company Securities is the sole bookrunner on the deal.
