NuScale Power Corporation announced on November 18, 2024, its intention to redeem all outstanding warrants to purchase shares of its Class A Common Stock. The redemption price was set at $0.01 per warrant, effective December 19, 2024.
Warrant holders were given the option to exercise their warrants to purchase shares of Common Stock for a cash payment of $11.50 per warrant until immediately before the redemption date. This action was triggered after the company's stock price met the condition of equaling or exceeding $18.00 per share on 20 trading days within a 30-day period, which was satisfied on November 14, 2024.
This move is a strategic financial decision to simplify the company's capital structure and potentially generate significant cash proceeds from warrant exercises. It demonstrates NuScale's proactive management of its financial instruments and its ability to strengthen its balance sheet.
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