Eagle Energy Metals To Go Public Via Business Combination With Spring Valley Acquisition Corp. II Under New Ticker "NUCL"

Benzinga·07/31/2025 12:38:16

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Eagle will become the first domestic uranium resource exploration company with Small Modular Reactor (SMR) technology to go public, with a clear path to development supported by a substantial uranium resource, extensive drilling data, and a strategically located project with nearby existing infrastructure.
Partnering with Spring Valley II, whose team brought NuScale Power public in a highly successful deal and ushered in this new wave of enthusiasm by institutional investors in the nuclear industry.
The Aurora deposit has a near-surface resource comprised of over 50 million pounds1 of uranium, generated from more than 500 holes drilled to date; Eagle is targeting commencement of a pre-feasibility study at Aurora in 2026.
Adjacent to Aurora is the Cordex deposit, which has had over 100 holes drilled into it and offers significant upside of additional uranium resources; Cordex also lies within Eagle's land package.
Eagle also holds proprietary SMR technology, positioning it for next-generation, distributed nuclear energy deployment and optionality to pursue vertical integration through a licensing model.
The proposed transaction values Eagle at a pro-forma equity value of $312 million.
A fundamental institutional investor to invest approximately $30 million in Series A Convertible Preferred Stock at closing.
The transaction includes no minimum cash condition, increasing certainty of closing.

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