Spring Valley Acquisition Corp. II reported a net loss of approximately $3.4 million for the three months ended September 30, 2025, compared to a net income of $1.96 million for the same period in 2024. The loss for the nine months ended September 30, 2025, was approximately $3.9 million, a significant decline from the net income of $5.87 million reported for the same period in the previous year. The company's general and administrative expenses increased to $701,281 for the third quarter of 2025, up from $184,576 in the prior year, reflecting heightened operational costs as the company continues its search for a business combination.
The financial position of Spring Valley Acquisition Corp. II showed total assets of $26.45 million as of September 30, 2025, a slight increase from $26.11 million at the end of 2024. The company held $65,312 in cash outside of its Trust Account, down from $495,352 at the end of the previous year. The Trust Account, which is primarily invested in U.S. government securities, contained approximately $26.36 million, up from $25.55 million at the end of 2024. However, the company also reported a working capital deficit of approximately $2.04 million, raising concerns about its liquidity and ability to meet operational needs.
In terms of strategic developments, Spring Valley Acquisition Corp. II is in the process of completing a business combination with Eagle Energy Metals Corp. The company has entered into an Amended and Restated Agreement and Plan of Merger, which outlines the terms of the merger and includes provisions for the issuance of Series A Cumulative Convertible Preferred Stock. The merger is expected to enhance the company's operational capabilities and market presence. However, the company has faced challenges, including a notice from Nasdaq regarding the potential delisting of its securities due to the failure to complete the business combination by the required deadline.
As of September 30, 2025, the company had not commenced any operations and continues to rely on non-operating income from investments held in the Trust Account. Management has expressed concerns about the company's ability to continue as a going concern, particularly if the business combination is not completed by the extended deadline of July 17, 2026. The company plans to seek additional financing from its sponsor to support its operations and fulfill its obligations until the completion of the business combination. The outcome of these efforts remains uncertain, and the company has not committed to any specific financing arrangements at this time.
About Spring Valley Acquisition Corp. II
Spring Valley Acquisition Corp. is a blank check company focused on identifying and completing mergers or acquisitions within the sustainability industry. Leveraging over 25 years of industry experience, it targets established, high-growth companies in renewable energy, resource optimization, environmental services, and grid infrastructure. Its business model involves executing a strategic initial business combination to create value and access public markets for sustainable businesses.
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