General Fusion closes SPAC combination with Spring Valley, set to list on Nasdaq as first public fusion company

VANCOUVER, July 10. General Fusion Inc. completed its business combination with Spring Valley Acquisition Corp. III, the company disclosed Friday, clearing the path to a Nasdaq debut. The Vancouver, British Columbia company says the listing will make it the first fusion energy firm to trade on a public exchange.

A 20-year private enterprise moves to public markets

General Fusion has operated privately for 20 years, according to the announcement. Investors who wanted equity exposure to the company's fusion work had no public market through which to buy it before this transaction. Spring Valley Acquisition Corp. III, a special-purpose acquisition vehicle, provided the combination structure that now makes a Nasdaq listing possible.

The Friday disclosure does not name a ticker symbol, share price, post-combination valuation, or a first trading date. The release does not say when those details will be available.

The first fusion stock

The announcement describes General Fusion as a "new kind of energy stock," grounding that phrase in the record: no fusion company has previously listed on a public exchange, as the release states. When the Nasdaq listing is formalized, public investors will have direct equity access to the sector.

The combination's close is a necessary step, not the final one. A Nasdaq listing requires additional steps after the combination completes, and General Fusion did not specify a timeline in Friday's announcement.

The company is headquartered in Vancouver, British Columbia. The announcement was issued through PRNewswire on behalf of General Fusion and distributed by USA News Group.