Business
Pender Growth Fund Portfolio Company, General Fusion, Announces a Proposed Business Combination
VANCOUVER, British Columbia, Jan. 22, 2026 (GLOBE NEWSWIRE) -- (TSXV: PTF): Pender Growth Fund Inc. (the “Company” or “PTF”) is pleased to report that long-time holding General Fusion Inc. (“General Fusion”) has announced that it has entered into a definitive business combination agreement (the “Proposed Business Combination”) with Spring Valley Acquisition Corp. III (“SVAC”). Upon closing, the Proposed Business Combination is expected to result in General Fusion listing on the Nasdaq and tradin
About this update from Spring Valley Acquisition Corp. Iii
[{"type":"image","alt":"Pender Growth Fund Inc.","displaySize":"","headline":null,"caption":"Pender Growth Fund Inc.","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":94,"url":"https://media.zenfs.com/en/globenewswire.com/9c6ef2a860076c060d0fb521e9597fef"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/2pEJx2lO6Ko64xxDLvfasQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTEzMjtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/9c6ef2a860076c060d0fb521e9597fef","width":300,"height":94}},"lazy":false},{"type":"text","content":"VANCOUVER, British Columbia, Jan. 22, 2026 (GLOBE NEWSWIRE) -- (TSXV: PTF): Pender Growth Fund Inc. (the “Company” or “PTF”) is pleased to report that long-time holding General Fusion Inc. (“General Fusion”) has announced that it has entered into a definitive business combination agreement (the “Proposed Business Combination”) with Spring Valley Acquisition Corp. III (“SVAC”). Upon closing, the Proposed Business Combination is expected to result in General Fusion listing on the Nasdaq and trading under the ticker symbol “GFUZ”.","length":533,"tagName":"p"},{"type":"text","content":"The Proposed Business Combination between General Fusion and SVAC is expected to be completed in mid-2026, subject to customary closing conditions, including regulatory and shareholder approvals. The Proposed Business Combination implies an approximately US$1 billion pro-forma equity value inclusive of approximately US$100 million from a committed financing and US$230 million of SVAC’s trust capital (assuming no redemptions). If successfully completed at the current terms, the net asset value (“NAV”) of PTF is anticipated to increase on a net basis by approximately CAD$27.3 million. There are currently 6,933,229 Class C shares of PTF issued and outstanding, and the increase is anticipated to represent approximately CAD$3.93 per PTF share.","length":748,"tagName":"p"},{"type":"text","content":"This is exciting news for General Fusion. After more than twenty years of developing and demonstrating its Magnetized Target Fusion (MTF) technology, the company has built and is operating a world-first large scale MTF demonstration machine, called Lawson Machine 26 (“LM26”), which puts it at the forefront of practical fusion technology development efforts. General Fusion intends to use the proceeds of the transaction with SVAC to furthe...