Spring Valley Acquisition Corp. II Class A (SVII) has released an update.
Spring Valley Acquisition Corp. II’s shareholders approved an amendment allowing Class B ordinary shares to convert to Class A ordinary shares before an initial business combination. Following this, the Sponsor and independent directors converted 7,546,666 and 120,000 Class B shares to Class A shares, respectively, waiving rights to funds from the Trust Account for these converted shares. Post-conversion, the company has 22,304,432 Class A ordinary shares issued and outstanding, which includes the newly converted shares alongside publicly-held Class A shares, with one remaining Class B share held by the Sponsor.
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