Spring Valley Acquisition Corp. II announced a private placement of a non-interest bearing, unsecured promissory note for proceeds of $3,150,000 on December 29, 2023. The transaction will include participation from returning investor Spring Valley Acquisition Sponsor II, LLC.

The promissory note will be repayable by the company to the Sponsor upon the earlier of until the earlier of (i) the consummation of a business combination, and (ii) the Extended Date (or any earlier date of termination, dissolution or winding up of the Company in accordance with its Articles or as otherwise determined in the sole discretion of the Board) (the earlier of (i) and (ii), the ? Maturity Date ?). Any contribution is conditioned on the approval of the extension amendment proposal by the company?s shareholders and the implementation of the extension.

The promissory note will not bear any interest. Any outstanding principal under the promissory note may be prepaid at any time by the company, at its election and without penalty. The investor will make monthly deposits directly to the company?s trust account of $150,000 per month to the company.