Spring Valley Acquisition V, a blank check company targeting power infrastructure, filed on Monday with the SEC to raise up to $200 million in an initial public offering.
The company plans to raise $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-fifth of a warrant, exercisable at $11.50.
Spring Valley Acquisition V 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. The SPAC plans to focus on businesses operating at the intersection of power infrastructure, decarbonization, AI infrastructure, digital infrastructure, and industrial electrification.
Management's previous SPACs include Spring Valley Acquisition IV (SVIVU; +3% from $10 offer price); Spring Valley Acquisition III (SVAC; +5%), which has a pending merger agreement with fusion energy developer General Fusion; Spring Valley Acquisition II, which merged with nuclear firm Eagle Nuclear Energy (NUCL; -6%) this past February; and Spring Valley Acquisition, which merged with nuclear tech developer NuScale Power (NYSE: SMR; +5%) in 2022.
The Dallas, TX-based company was founded in 2026. It plans to list on the Nasdaq but has not selected a symbol yet (RC ticker: SVAFU.RC). Cohen & Company Securities is the sole bookrunner on the deal.
