{"url_path":"/sec/svac/10-q/2026/item-2","section_key":"item-2","section_title":"Item 2 Unregistered Sales of Equity Securities and Use of Proceeds.","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-15","source_url":"https://www.sec.gov/Archives/edgar/data/2074850/0001104659-26-061398-index.html","accession_number":"0001104659-26-061398","cik":"0002074850","ticker":"SVAC","issuer_name":"General Fusion Group Ltd.","edgar_url":"https://www.sec.gov/Archives/edgar/data/2074850/0001104659-26-061398-index.html","primary_entity_key":"0002074850","primary_entity_name":"Spring Valley Acquisition Corp. III"},"word_count":306,"has_tables":true,"body_markdown":"Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.\n\nOn September 5, 2025, we consummated the Initial Public Offering of 23,000,000 Units. The Units were sold at an offering price of $10.00 per unit, generating total gross proceeds of $230,000,000. Cohen & Company Capital Markets acted as lead book-running manager and Clear Street acted as joint book-runner, of the Initial Public Offering. The securities in the offering were registered under the Securities Act on registration statement on Form S-1 (No. 333-289294). The Securities and Exchange Commission declared the registration statements effective on September 3, 2025.\n\nSimultaneous with the consummation of the Initial Public Offering, the Sponsor consummated the private placement of an aggregate of 7,046,111 Private Placement Warrants at a price of $0.90 per warrant, generating total proceeds of $6,341,500. Each Unit consists of one Class A ordinary share and one-third of one redeemable warrant. Each whole warrant entitles the holder to purchase one Class A ordinary share at a price of $11.50 per share. The issuance was made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act.\n\nThe Private Placement Warrants are identical to the warrants underlying the Units sold in the Initial Public Offering, except that the Private Warrants are not transferable, assignable or salable until after the completion of a Business Combination, subject to certain limited exceptions.\n\nOf the gross proceeds received from the Initial Public Offering, the exercise of the over-allotment option and the Private Placement Warrants, an aggregate of $230,000,000 was placed in the Trust Account.\n\nWe paid a total of $14,319,936, consisting of $4,600,000 of cash underwriting fee, $9,200,000 of deferred underwriting fee and $519,936 of other offering costs.\n\nFor a description of the use of the proceeds generated in our Initial Public Offering, see Part I, Item 2 of this Form 10-Q."}