Uranium Miner Eagle Energy Metals Agrees to Go Public Via SPAC

Eagle Energy Metals Corp., a uranium miner and nuclear reactor technology developer, has agreed to a deal to go public through a merger with blank-check company Spring Valley Acquisition Corp. II, capitalizing on growing demand for energy amid the artificial intelligence boom.

The deal gives the combined company a pro-forma equity value of $312 million, according to a statement seen by Bloomberg News. An investor the company didn’t name has agreed to invest $30 million in the deal via a convertible preferred stock offering, the statement shows.

The flagship asset of the Reno, Nevada-headquartered company is Aurora, a ...