General Fusion has agreed to go public via a merger with a U.S. special purpose acquisition company, valuing the fusion developer at US$1 billion. The Richmond, British Columbia company will combine with Dallas-based Spring Valley Acquisition Corp. III and plans to trade on the Nasdaq after closing.
The deal includes roughly US$105 million in PIPE financing and up to US$230 million from Spring Valley’s trust. After recent funding challenges, General Fusion says the transaction advances its goal of delivering commercially viable fusion power and bringing energy to the grid. Want to know more? Check out the source code here.
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