10-Q Filing

NUSCALE POWER CORP CIK: 1822966 Q3 2021

Filing Information

Form Type	10-Q
Accession Number	`0001104659-21-135586`
Period End Date	20210930
Filing Date	20211108
Fiscal Year	2021
Fiscal Period	Q3
XBRL Instance	svsvu-20210930x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 50 Income Statement 15 Cash Flow Statement 27 Stockholders Equity 20

Balance Sheet 50 line items

Line Item	Tag	Value	Unit	Period
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.91M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.19M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$108.37K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$237.09K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.14M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.30M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Investments held in trust account	`AssetsHeldInTrustNoncurrent`	$232.30M	USD	Point-in-time
Investments held in brokerage account	`InvestmentsHeldInBrokerageAccount`	$232.32M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total assets	`Assets`	$234.45M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total assets	`Assets`	$233.62M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	-	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$345.06K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$49.93K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$10.55K	USD	Point-in-time
Temporary Equity, Shares outstanding	`TemporaryEquitySharesOutstanding`	23.00M	shares	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$355.61K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$49.93K	USD	Point-in-time
Temporary Equity, Shares outstanding	`TemporaryEquitySharesOutstanding`	23.00M	shares	Point-in-time
Deferred underwriting fees payable	`DeferredUnderwritingCommissionNoncurrent`	$8.05M	USD	Point-in-time
Temporary equity, par value	`TemporaryEquityRedemptionPricePerShare`	$10.10	USD	Point-in-time
Deferred underwriting fees payable	`DeferredUnderwritingCommissionNoncurrent`	$8.05M	USD	Point-in-time
Temporary equity, par value	`TemporaryEquityRedemptionPricePerShare`	$10.10	USD	Point-in-time
Derivative warrant liabilities	`WarrantLiabilitiesNonCurrent`	$30.17M	USD	Point-in-time
Derivative warrant liabilities	`WarrantLiabilitiesNonCurrent`	$33.66M	USD	Point-in-time
Total liabilities	`Liabilities`	$38.58M	USD	Point-in-time
Total liabilities	`Liabilities`	$41.76M	USD	Point-in-time
Commitments and Contingencies (Note 7)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Note 7)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Class A ordinary shares subject to possible redemption, 23,000,000 shares at $10.10 redemption value as of September 30, 2021 and December 31, 2020 respectively	`TemporaryEquityCarryingAmountAttributableToParent`	$232.30M	USD	Point-in-time
Class A ordinary shares subject to possible redemption, 23,000,000 shares at $10.10 redemption value as of September 30, 2021 and December 31, 2020 respectively	`TemporaryEquityCarryingAmountAttributableToParent`	$232.30M	USD	Point-in-time
Preference shares, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preference shares, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-37.27M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-39.62M	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$17.78K	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-30.90M	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-35.34M	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-39.61M	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-37.26M	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	-	USD	Point-in-time
Total Liabilities and Shareholders' Deficit	`LiabilitiesAndStockholdersEquity`	$233.62M	USD	Point-in-time
Total Liabilities and Shareholders' Deficit	`LiabilitiesAndStockholdersEquity`	$234.45M	USD	Point-in-time

Income Statement 15 line items

Line Item	Tag	Value	Unit	Period
Formation and operating costs	`OperatingCostsAndExpenses`	$7.22K	USD	Point-in-time
Formation and operating costs	`OperatingCostsAndExpenses`	$441.40K	USD	1 Quarter
Formation and operating costs	`OperatingCostsAndExpenses`	$1.13M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-1.13M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-7.22K	USD	Point-in-time
Loss from operations	`OperatingIncomeLoss`	$-441.40K	USD	1 Quarter
Gain on investments, dividends and interest, held in Trust Account	`InvestmentIncomeInterest`	$14.51K	USD	3 Qtrs
Gain on investments, dividends and interest, held in Trust Account	`InvestmentIncomeInterest`	$2.99K	USD	1 Quarter
Change in fair value of derivative liabilities	`FairValueAdjustmentOfWarrants`	$1.49M	USD	1 Quarter
Change in fair value of derivative liabilities	`FairValueAdjustmentOfWarrants`	$-3.49M	USD	3 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$2.38M	USD	3 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-4.43M	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-1.93M	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$8.73M	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-7.22K	USD	Point-in-time

Cash Flow Statement 27 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`ProfitLoss`	$2.38M	USD	3 Qtrs
Net income (loss)	`ProfitLoss`	$-7.22K	USD	Point-in-time
Change in fair value of derivative liabilities	`FairValueAdjustmentOfWarrants`	$1.49M	USD	1 Quarter
Change in fair value of derivative liabilities	`FairValueAdjustmentOfWarrants`	$-3.49M	USD	3 Qtrs
Gain on marketable securities (net), dividends and interest, held in Trust Account	`InvestmentIncomeInterest`	$14.51K	USD	3 Qtrs
Gain on marketable securities (net), dividends and interest, held in Trust Account	`InvestmentIncomeInterest`	$2.99K	USD	1 Quarter
Formation and operating cost paid through the issuance of ordinary shares to Sponsor	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$5.00K	USD	Point-in-time
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$4.44K	USD	Point-in-time
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-128.72K	USD	3 Qtrs
Accounts payable and accrued expenses	`AccountsPayableAndAccruedExpenses`	$-305.68K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-6.66K	USD	Point-in-time
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-691.04K	USD	3 Qtrs
Advances from related party	`ProceedsFromRelatedPartyDebt`	$6.66K	USD	Point-in-time
Offering costs paid	`PaymentsOfStockIssuanceCosts`	$25.00K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$6.66K	USD	Point-in-time
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-25.00K	USD	3 Qtrs
Net decrease in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-716.04K	USD	3 Qtrs
Cash - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.19M	USD	Point-in-time
Cash - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.91M	USD	Point-in-time
Cash - end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.19M	USD	Point-in-time
Cash - end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.91M	USD	Point-in-time
Initial classification of Class A Ordinary Shares subject to possible redemption	`InitialClassificationOfCommonStockSubjectToPossibleRedemption`	$-24.39M	USD	3 Qtrs
Accretion of Class A Ordinary Shares to redemption value	`OrdinarySharesAccretionToRedemptionValue`	$-25.00K	USD	1 Quarter
Accretion of Class A Ordinary Shares to redemption value	`OrdinarySharesAccretionToRedemptionValue`	$24.39M	USD	3 Qtrs
Deferred offering costs included in accrued expenses	`DeferredOfferingCostsIncludedInAccruedExpenses`	$59.56K	USD	Point-in-time
Deferred offering costs paid through promissory note - related party	`DeferredOfferingCostsPaidThroughPromissoryNoteRelatedParty`	$113.16K	USD	Point-in-time
Deferred offering costs paid through the issuance of ordinary shares to Sponsor	`DeferredOfferingCostsPaidThroughIssuanceOfOrdinarySharesToSponsor`	$20.00K	USD	Point-in-time

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Balance at the beginning	`StockholdersEquity`	$17.78K	USD	Point-in-time
Balance at the beginning	`StockholdersEquity`	$-30.90M	USD	Point-in-time
Balance at the beginning	`StockholdersEquity`	$-35.34M	USD	Point-in-time
Balance at the beginning	`StockholdersEquity`	$-39.61M	USD	Point-in-time
Balance at the beginning	`StockholdersEquity`	$-37.26M	USD	Point-in-time
Balance at the beginning	`StockholdersEquity`	-	USD	Point-in-time
Issuance of ordinary shares to sponsor	`StockIssuedDuringPeriodValueNewIssues`	$25.00K	USD	Point-in-time
Accretion of Class A Ordinary Shares to redemption value	`OrdinarySharesAccretionToRedemptionValue`	$-25.00K	USD	1 Quarter
Accretion of Class A Ordinary Shares to redemption value	`OrdinarySharesAccretionToRedemptionValue`	$24.39M	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$2.38M	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$-4.43M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-1.93M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$8.73M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-7.22K	USD	Point-in-time
Balance at the end	`StockholdersEquity`	$17.78K	USD	Point-in-time
Balance at the end	`StockholdersEquity`	$-30.90M	USD	Point-in-time
Balance at the end	`StockholdersEquity`	$-35.34M	USD	Point-in-time
Balance at the end	`StockholdersEquity`	$-39.61M	USD	Point-in-time
Balance at the end	`StockholdersEquity`	$-37.26M	USD	Point-in-time
Balance at the end	`StockholdersEquity`	-	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.