General Fusion Closes SPAC Merger, Set to Trade as GFUZ with $150M Cash
SVAC sits 28% above its 52-week low of $7.35 on light trading volume (0.3× avg).
Summary
The business combination between Spring Valley Acquisition Corp. III and General Fusion has closed, making General Fusion the first publicly listed fusion company. The combined entity will begin trading on Nasdaq under the ticker GFUZ on July 13, with approximately $150 million in cash to fund its Lawson program through key milestones expected by 2028. This follows shareholder approval on July 6 and a recent technical breakthrough in fusion. The capital provides a clear runway to demonstrate commercial viability of its Magnetized Target Fusion technology.
At the time of this announcement, SVAC was trading at $9.44 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $289.5M. The 52-week trading range was $7.35 to $12.00. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.