The Latest SPAC News and Rumors: May 4, 2022

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. 

Latest SPAC News: NuScale gains after completing merger, and Giga Carbon Neutrality initiates discussions on merger with SPAC

Nuclear-Tech Firm NuScale Gains After Completing SPAC Merger

NuScale Power Corp.(NYSE:SMR), an advanced nuclear technology company, rose on its first day of trading after completing a merger with blank-check company Spring Valley Acquisition Corp.

The Fluor Corp.(NYSE:FLR)-backed company gained 5.5% to close at $10.55 on Tuesday. It raised $380 million through the deal with the special purpose acquisition company.

Giga Carbon Neutrality Initiates Discussions on Business Merger with Major Exchange Listed SPAC

Giga Carbon Neutrality Inc, the intelligent commercial mobility and clean energy technology company, today announced that it has signed a Letter of Intent (LOI) with a major stock exchange listed SPAC to work toward a Definitive Agreement for a merger of both companies.

If the discussions are successful, GCN will merge its new energy mobility solutions – both battery and hydrogen powered logistics vehicles, specialist vehicles and buses – and mobile and stationary energy storage capabilities with the SPAC forming a new publicly traded company.