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Spring Valley Acquisition Corp. II (SVIIW0.00%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing a net income of approximately $5.9 million, primarily due to income from investments held in the Trust Account.
General and administrative expenses for the nine months ended September 30, 2024, were $616,555, with $90,000 attributed to administrative expenses for related parties.
The company reported cash held outside of the Trust Account of approximately $0.7 million as of September 30, 2024, with a working capital deficit of approximately $0.8 million.
The company has not commenced any operations and will not generate operating revenues until after the completion of its initial business combination.
Spring Valley Acquisition Corp. II held an extraordinary general meeting on January 10, 2024, where shareholders approved amendments to extend the business combination deadline to October 17, 2025.
Shareholders holding 8,362,234 Class A ordinary shares exercised their right to redeem their shares for cash at a redemption price of approximately $10.85 per share.
The Sponsor issued an unsecured promissory note to make monthly deposits to the Trust Account, with a maximum aggregate amount of $3,150,000.
On October 2, 2024, the board decided that the Sponsor is no longer required to make monthly deposits to the Trust Account.
The company faces risks and uncertainties due to geopolitical events, including military actions and related sanctions, which may impact its ability to complete a business combination.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Spring Valley Acquisition Corp. II Warrant quarterly 10-Q report dated November 14, 2024. To report an error, please email earnings@qz.com.