Spring Valley Acquisition Corp. II (NASDAQ:SVII) Extends Date for Business Combination

Spring Valley Acquisition Corp. II (NASDAQ:SVII) recently filed a definitive proxy statement with the Securities and Exchange Commission (SEC) on October 10, 2024. The purpose of the filing was to seek approval from its shareholders for an amendment to its amended and restated memorandum and articles of association. This amendment pertains to extending the timeline within which the company must consummate an initial business combination.

In specific terms, the proposed amendment seeks to extend the initial business combination deadline to 36 months from the closing of the initial public offering or an earlier date deemed appropriate by the company’s board of directors. This amendment, referred to as the Extension Amendment Proposal, was outlined in the definitive proxy statement submitted to the SEC.

As part of the process leading up to the shareholders’ meeting to vote on the Extension Amendment Proposal, Spring Valley Acquisition Corp. II and its Sponsor, Spring Valley Acquisition Sponsor II, LLC, entered into non-redemption agreements with several unaffiliated third parties. These agreements entail that the third parties will not redeem an aggregate of 250,000 Class A ordinary shares in connection with the proposed extension. In return, the Sponsor has agreed to transfer or cause to be issued, at no cost, an aggregate of 83,333 Founder Shares upon the completion of the company’s initial business combination.

It is essential to note that this summary of non-redemption agreements does not encompass all details and is subject to the full disclosure available in the form of Non-Redemption Agreement filed as Exhibit 10.1 in the Company’s Current Report on Form 8-K dated October 22, 2024, and is incorporated by reference.

This extension reflects the company’s strategic decision-making process and its dedication to securing the best interests of stakeholders. However, as with any forward-looking statement, there are inherent risks and uncertainties involved. Shareholders and interested parties are advised to thoroughly review all relevant documents, including the Extension Proxy Statement, to make informed decisions regarding the Extension Amendment Proposal and related matters.

Spring Valley Acquisition Corp. II emphasizes the importance of understanding the risks associated with forward-looking statements. Factors beyond the company’s control may significantly impact future outcomes and performance. It is crucial to consider all relevant risk factors, as detailed in the company’s filings with the SEC, before making any investment decisions.

Investors, shareholders, and interested individuals are encouraged to access additional information regarding the Extension Amendment Proposal and related matters through the SEC’s website or by contacting the company’s proxy solicitor, Sodali & Co.

This communication does not constitute an offer to sell or a solicitation of an offer to buy any securities. Any securities offering will be done following proper registration or qualification procedures as per securities laws.

Spring Valley Acquisition Corp. II underscores that all forward-looking statements contained in this communication are as of the date provided and holds no obligation to update these statements to reflect any changes in expectations or circumstances. The cautionary note provided concerning forward-looking statements remains valid for all future-related disclosures.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Spring Valley Acquisition Corp. II’s 8K filing here.

Spring Valley Acquisition Corp. II Company Profile

Spring Valley Acquisition Corp. II does not have significant operations. It intends effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination. The company was incorporated in 2021 and is based in Dallas, Texas.