Raymond James initiates QXO stock with Outperform rating on acquisition strategy
Spring Valley Acquisition Corp. III announced the pricing of its initial public offering of 20 million units at $10 per unit on September 3, 2025. The blank check company expects to raise $200 million from the offering.
The units are scheduled to begin trading on the Nasdaq Global Market under ticker symbol "SVACU" on September 4, 2025. Each unit consists of one Class A ordinary share and one-third of a redeemable warrant. Each whole warrant allows the holder to purchase one Class A ordinary share at $11.50 per share.
Once separate trading begins, the company expects its Class A ordinary shares and warrants to trade under symbols "SVAC" and "SVACW" respectively on Nasdaq. The offering is expected to close September 5, 2025, subject to customary closing conditions.
Cohen & Company Capital Markets serves as lead book-running manager, with Clear Street acting as joint book-runner. The underwriters have a 45-day option to purchase up to 3 million additional units to cover over-allotments.
The company was formed to pursue a merger, share exchange, asset acquisition or similar business combination with one or more businesses. It intends to focus on opportunities in the natural resources and decarbonization industries, according to the press release.
A registration statement related to the securities became effective September 3, 2025. The information is based on a company press release.