Eagle Energy Metals to Go Public via $312mln SPAC Merger with Spring Valley Acquisition Corp. II

Eagle Energy Metals, a uranium miner and nuclear reactor technology developer, has agreed to go public through a merger with Spring Valley Acquisition Corp. II. The combined company will have a pro-forma equity value of $312 million and will be named Eagle Nuclear Energy Corp. The merger comes amid growing demand for electricity driven by artificial intelligence, quantum computing, and cryptocurrency mining.

Eagle Energy Metals Corp. has agreed to go public through a merger with Spring Valley Acquisition Corp. II (SVII). The combined company, to be named Eagle Nuclear Energy Corp., will have a pro-forma equity value of $312 million and will list its common stock and warrants on the Nasdaq under the ticker symbol "NUCL." The merger is expected to be completed in late 2025, subject to customary closing conditions, including regulatory and stockholder approvals [1].

Eagle Energy Metals is a next-generation nuclear energy company that holds the rights to the largest mineable, measured, and indicated uranium deposit in the United States. The company's Aurora deposit, located on the border of Oregon and Nevada, contains over 50 million pounds of near-surface uranium. The deposit has been extensively explored, with more than 500 drill holes completed to date, positioning it as a low-risk and cost-effective resource [1].

The merger with SVII brings together veteran leadership with deep expertise in nuclear energy, natural resources, and capital markets. Eagle is led by CEO Mark Mukhija, who has nearly two decades of global mining and mining technology experience. SVII's Chairman and CEO, Chris Sorrells, and CFO, Robert Kaplan, contribute over 40 years of combined investing and advising experience. Their successful partnership with NuScale Power, which resulted in the first publicly traded company focused on Small Modular Reactor (SMR) technology, highlights their ability to drive nuclear energy innovation [1].

The growing demand for electricity driven by artificial intelligence, quantum computing, and cryptocurrency mining is straining global grids and increasing reliance on always-on, high-capacity factor power sources like nuclear energy. Eagle's strategic position to address this challenge with substantial domestic resources and next-generation technology positions it to restore American leadership in the nuclear industry [1].

The Proposed Business Combination between Eagle and SVII is expected to be completed in late 2025, subject to customary closing conditions. Upon completion, Eagle will become the first domestic uranium resource exploration company with SMR technology to go public on a U.S. exchange. The combined company will have a pro-forma equity value of $312 million, excluding additional earnout considerations. A fundamental institutional investor has committed to invest approximately $30 million in Series A Convertible Preferred Stock at closing [1].

References:
[1] https://www.globenewswire.com/news-release/2025/07/31/3125008/0/en/Eagle-Energy-Metals-Rightholder-of-the-Largest-Mineable-Measured-and-Indicated-U-S-Uranium-Deposit-to-go-Public-via-Business-Combination-With-Spring-Valley-Acquisition-Corp-II.html