General Fusion Secures Shareholder Approval to Become a Public Company

Overview

• Spring Valley Acquisition Corp. III shareholders and General Fusion securityholders approved the business combination at a special meeting, clearing the final shareholder hurdle for the SPAC merger.
• The companies say the transaction is expected to close shortly, after which Spring Valley will be renamed General Fusion Group Ltd. and the combined company will seek to list on Nasdaq under the tickers GFUZ and GFUZW, subject to listing approval.
• General Fusion pursues Magnetized Target Fusion (MTF), a method that uses magnetized plasma compressed by mechanical pistons rather than superconducting magnets or high‑power lasers, and the company points to its LM26 demonstration machine as the core technical milestone toward commercial fusion.
• The deal and listing remain conditional on routine but material items: regulatory approvals, satisfaction or waiver of closing conditions, completion of any PIPE financing and Nasdaq acceptance of the listing application.
• If completed, the transaction would make General Fusion the first pure‑play fusion company to trade publicly and could reshape funding for fusion development, but investors should watch near‑term financing, regulatory clearances and LM26 performance milestones for signs the company can meet commercial targets.