NuScale Power Closes Merger with Spring Valley Acquisition Corp.

PORTLAND, Ore. — Stoel Rives is pleased to announce that it acted as legal advisor to NuScale Power, LLC (NuScale) in completing its business combination agreement with Spring Valley Acquisition Corp., a publicly traded special purpose acquisition company (SPAC). The combined company will operate as NuScale Power Corporation and will be listed on the New York Stock Exchange. The expected approximate enterprise value of the Business Combination of $1.9 billion will provide capital for NuScale to scale and accelerate the commercialization of its small modular reactor (SMR) technology.

The Stoel Rives team that represented NuScale was led by Portland partner Jason Brauser and included John Casey, Sten Eccles-Irwin, Jacob Goldberg, William Goodling, Steve Hull, James Kearney, Daniel Kubitz, Kevin Pearson, and Michael Such, among others.

Portland-based nuclear power company NuScale is the provider of the NuScale Power Module^tm(NPM), the first reactor design using SMR technology to receive Standard Design Approval from the U.S. Nuclear Regulatory Commission, which is capable of generating 77 megawatts of electricity (MWe) and can be scaled to meet customer needs.

For more on the deal, please see the NuScale press release.