Spring Valley Acquisition Corp. (SVSVU) Prices $200M IPO


Spring Valley Acquisition Corp. (SVSVU) Prices $200M IPO

Spring Valley Acquisition Corp. announced the pricing of its $200 million IPO this evening and its units are expected to begin trading on the Nasdaq under the symbol “SVSVU” tomorrow, Tuesday, November 24.

The new company aims to combine with a target with a technology-driven approach to improving sustainability in energy, construction, transportation, or environmental services. Spring Valley is led by CEO and Director Christopher Sorrells, CFO Jeffrey Schramm, VP of Business Development Robert Kaplan, and Chairman William Quinn.

Total SPAC deal count for 2020 year-to-date is now 195 with $68.1 billion in gross proceeds raised. This offering is expected to close on Friday, November 27.

Cowen and Company LLC and Wells Fargo Securities LLC are acting as joint book-running managers for the offering with Drexel Hamilton LLC and Siebert Williams Shank & Co. serving as co-managers. Kirkland & Ellis LLP is serving as Issuer’s Counsel with Shearman & Sterling LLP serving as Underwriter’s Counsel. WithumSmith+Brown, PC serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.