Appleby Advises Spring Valley Acquisition Corp. III in Its USD1 Billion Go-Public Merger with General Fusion Inc.

Appleby is pleased to announce that it acted as Cayman Islands legal counsel to blank-check vehicle Spring Valley Acquisition Corp. III (SV III) on the signing of a definitive business combination agreement with General Fusion Inc. (General Fusion), a leading developer of magnetized fusion technology. The proposed transaction reflects a pro forma equity value of approximately $1 billion, inclusive of $105 million from a committed, oversubscribed private investment in public equity and $230 million of SVAC III’s trust capital (assuming no redemptions). If completed, the business combination will bring the common stock and warrants of the combined company, expected to be named “General Fusion,” to trade on Nasdaq.  The transaction is expected to be completed in mid-2026, subject to customary closing conditions, including regulatory and SV III’s shareholder approval.