Spring Valley Acquisition Corp III-A 2026年季度报告

For the quarter ended March31, 2026 Securities registered pursuant to Section12(b)of the Act: Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during thepast 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subjectto such filing requirements for the past 90days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule405 of Regulation S-T (§232.405 of this chapter) during the preceding 12months (or forsuch shorter period that the registrant was required to submit such files). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, asmaller reporting company or an emerging growth company. See definitions of “large accelerated filer”, “acceleratedfiler”, “smaller reporting company”, and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filer☐Non-accelerated filer☒ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transitionperiod for complying with any new or revised financial accounting standards provided pursuant to Section13(a)of theExchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act). Yes☒No☐ As of May 13, 2026, there were 23,000,000 ClassA ordinary shares, $0.0001 par value and changed ClassB ordinaryshares, $0.0001 par value, issued and outstanding. SPRING VALLEY ACQUISITION CORP. III FORM10-Q FOR THE QUARTER ENDED MARCH31, 2026TABLE OF CONTENTS PartI. Financial InformationItem1. Interim Financial StatementsCondensed Consolidated Balance Sheets as of March31, 2026 (Unaudited) and December 31, 20251Condensed Consolidated Statement of Operations for the threemonths ended March31, 2026 and for theperiod from March12, 2025 (inception) through March31, 2025 (Unaudited)2Condensed Consolidated Statements of Changes in Shareholders’ Equity (Deficit) for the three monthsended March31, 2026 and for the period from March12, 2025 (inception) through March31, 2025(Unaudited)3Condensed Consolidated Statement of Cash Flows for the three months ended March 31, 2026 and for theperiod from March12, 2025 (inception) through March31, 2025 (Unaudited)4Notesto Condensed Consolidated Financial Statements (Unaudited)5Item2. Management’s Discussion and Analysis of Financial Condition and Results of Operations23Item3. Quantitative and Qualitative Disclosures Regarding Market Risk29Item4. Controls and Procedures29PartII. Other InformationItem1. Legal Proceedings30Item1A. Risk Factors30Item2. Unregistered Sales of Equity Securities and Use of Proceeds30Item3. Defaults Upon Senior Securities30Item4. Mine Safety Disclosures30Item5. Other Information30Item6. Exhibits31PartIII. Signatures32 PARTI- FINANCIAL INFORMATION SPRING VALLEY ACQUISITION CORP. IIICONDENSED CONSOLIDATED BALANCE SHEETS March 31,December 31,20262025(Unaudited)AssetsCurrent assetsCash and cash equivalents$665,383$749,812Prepaid expenses157,964100,885Due from Sponsor4,800—Total current assets828,147850,697Long-term prepaid insurance27,93848,155Investments held in Trust Account234,715,684232,809,646Total Assets$235,571,769$233,708,498 SPRING VALLEY ACQUISITION CORP. IIICONDENSED CONSOLIDATED STATEMENT OF OPERATIONS(UNAUDITED) Basic and diluted weighted average shares outstanding, Class A ordinary shares subject to possibleredemption23,000,000Basic and diluted net loss per ordinary share, Class A ordinary shares subject to possibleredemption$(13.80)Basic and diluted average shares outstanding of Class B ordinary shares not subject to redemption7,666,667Basic and diluted net loss per ordinary share, Class B ordinary shares not subject toredemption$(13.80) *For the period from March 12, 2025 (inception) through March 31, 2025 (Unaudited) the Company did not have anyactivity. The accompanying notes are an integral part of the unaudited condensed consolidated financial statements. SPRING VALLEY ACQUISITION CORP. IIICONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY(DEFICIT)FOR THE THREE MONTHS ENDED MARCH 31, 2026 ANDFOR THE PERIOD FROM MARCH 12, 2025 (INCEPTION) TO MARCH 31, 2025(UNAUDITED) SPRING VALLEY ACQUISITION CORP. IIICONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(UNAUDITED) SPRING VALLEY ACQUISITION CORP. IIINOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTSMARCH 31, 2026(Unaudited) NOTE1. DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS Spring Valley Acquisition Corp. III (the “Company” or “SVIII”) is a blank check company incorporated as a CaymanIslands exempted corporation on March 12, 2025. The Company was incorporated for the purpose of effecting amerger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one ormore