Spring Valley Acquisition Corp. II Calls Shareholders Meeting to Amend Initial Business Combination Deadline

Spring Valley Acquisition Corp. II (NASDAQ:SVII) disclosed in a recent 8-K filing that it has convened an extraordinary general meeting of shareholders scheduled for October 31, 2024. The primary agenda item for shareholder approval is a proposed amendment to the company’s amended and restated memorandum and articles of association. The proposed amendment aims to extend the deadline for the consummation of an initial business combination (the “Extension Amendment Proposal”) to 36 months from the closure of the initial public offering (IPO).

Shareholders who acquired Class A ordinary shares during the IPO have until 5:00 p.m. Eastern time on October 29, 2024, to submit their shares for redemption. In anticipation of the meeting and the upcoming Amendment, Spring Valley Acquisition Corp. II, along with Spring Valley Acquisition Sponsor II, LLC, plans to enter into Non-Redemption Agreements with unaffiliated shareholders of the company. These agreements are structured to prevent the redemption of Class A ordinary shares, providing a potential boost in the amount of funds that will remain in the company’s trust account post-meeting, should the Extension Amendment Proposal be ratified.

The company disclosed that while the Non-Redemption Agreements are not anticipated to enhance the likelihood of shareholder approval for the Extension Amendment Proposal, they are expected to positively impact the remaining balance in the company’s trust account following the meeting.

Spring Valley Acquisition Corp. II emphasized in the filing that there is no assurance of any form of non-redemption incentive being offered, and the actual terms of any such incentive may differ significantly from the descriptions provided. The company urges caution regarding forward-looking statements and emphasizes that known and unknown risks, uncertainties, and other factors could cause actual results to differ materially from projected outcomes.

Participants in the solicitation process related to the Extension Amendment Proposal are highlighted in the filing. The company encourages shareholders, investors, and other interested parties to review the definitive proxy statement filed with the SEC and additional related documents to access important information regarding the proposed amendment.

This news article is not deemed an offer to buy or sell securities and does not constitute a solicitation. Compliance with registration or qualification requirements under applicable securities laws is necessary for any sale of securities.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Spring Valley Acquisition Corp. II’s 8K filing here.

Spring Valley Acquisition Corp. II Company Profile

Spring Valley Acquisition Corp. II does not have significant operations. It intends effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination. The company was incorporated in 2021 and is based in Dallas, Texas.