In October 2022, Spring Valley II raised $230 million in its initial public offering to pursue a business combination in the Sustainability industry. On July 31, 2025, Spring Valley II entered into a definitive agreement to merge with Eagle Nuclear Energy Corp. (“Eagle Nuclear”), a next-generation nuclear energy company that combines domestic uranium exploration with proprietary Small Modular Reactor (“SMR”) technology. The Company holds the rights to the largest conventional, measured and indicated uranium deposit in the United States, located in southeastern Oregon. This includes the Aurora deposit, with 32.75 million lbs Indicated and 4.98 million lbs Inferred (SK-1300 TRS) of near-surface uranium resource, and the adjacent Cordex deposit, which offers significant potential to expand the project’s overall resource inventory. By integrating advanced SMR technology with a sizeable uranium asset, Eagle Nuclear is building an integrated nuclear platform positioned to help restore American leadership in the global nuclear industry.
The transaction closed on February 24, 2026, and the Company now trades on Nasdaq under the ticker symbol “NUCL”. Alyeska Investment Group, a leading fundamental institutional investor, invested approximately $30 million in Series A Convertible Preferred Stock at closing.
Eagle Energy Metals and Spring Valley Acquisition Corp. II Announce Closing of Business Combination
