FORM 10-Q FOR THE QUARTER ENDED MARCH 31, 2026

Press release ยท 2026-05-15 13:50
FORM 10-Q FOR THE QUARTER ENDED MARCH 31, 2026

FORM 10-Q FOR THE QUARTER ENDED MARCH 31, 2026

Spring Valley Acquisition Corp. IV (the “Company”) filed its quarterly report for the period ended March 31, 2026. The Company reported a net loss of $1.3 million for the quarter, primarily due to expenses related to its public company reporting obligations and the costs associated with being a publicly traded company. As of March 31, 2026, the Company had cash and cash equivalents of $4.4 million and a working capital deficit of $1.1 million. The Company has not yet generated any revenue and has not completed any acquisitions or business combinations. The Company’s management believes that it has sufficient funds to meet its obligations for at least the next 12 months, but there can be no assurance that the Company will be able to continue to operate without additional financing.

Overview

This report provides a summary and analysis of the key financial information for a blank check company that was formed in October 2025 with the purpose of completing a business combination. The company recently conducted an initial public offering (IPO) and is now in the process of identifying a target company to acquire.

Results of Operations

The company has not yet engaged in any operations or generated any revenue since its inception in October 2025. Its activities have been focused on organizational tasks, preparing for the IPO, and searching for a suitable business combination target. The company does not expect to generate any operating revenue until after completing a business combination.

For the three months ended March 31, 2026, the company reported a net income of $890,303. This consisted of $184,799 in formation, general, and administrative costs, offset by $1,075,102 in interest income earned on the funds held in the company’s trust account.

Liquidity and Capital Resources

The company completed its IPO on February 11, 2026, raising $230 million by selling 23 million units at $10 per unit. It also sold 7,046,111 private placement warrants for $6.3 million. After deducting $14.3 million in offering costs, the company placed $230 million into a trust account.

As of March 31, 2026, the company had $231.1 million in the trust account, including $1.1 million in interest income. The company intends to use these funds to complete a business combination. It also had $1.1 million in cash outside the trust account, which it plans to use for identifying and evaluating potential targets, due diligence, and negotiating a transaction.

The company believes it has sufficient funds to meet its current expenditures, but may need to raise additional financing either to complete a business combination or if it is required to redeem a significant number of its public shares upon the consummation of a deal.

Contractual Obligations

The company does not have any long-term debt, capital leases, or other significant long-term liabilities. Its main contractual obligations are:

  • An agreement restricting the transfer of its founder shares until after a business combination is completed
  • A $4.6 million cash underwriting fee paid to the IPO underwriters
  • A $9.2 million deferred underwriting fee also owed to the IPO underwriters

Critical Accounting Policies

The company has identified the following critical accounting policies:

  1. Accounting for Class A ordinary shares subject to possible redemption
  2. Calculation of net income per ordinary share using the two-class method

Management does not believe any recently issued accounting standards will have a material impact on the company’s financial statements.

Outlook

The company is currently focused on identifying and evaluating potential business combination targets. It faces the risk that it may not be able to complete a suitable transaction, which could impact its ability to generate returns for shareholders. However, the company appears to have sufficient funding from its IPO to pursue acquisition opportunities in the near-term. Its future success will depend on its ability to find an attractive target and negotiate favorable terms for a business combination.