Struggling fusion power company General Fusion to go public via $1B reverse merger

Last year, fusion power startup General Fusion was struggling to raise funds, laying off at least 25% of its staff before receiving a $22 million lifeline investment while it figured out how to keep the company afloat. Today, General Fusion revealed its survival plan: It will go public through a reverse merger with a special purpose acquisition company, Spring Valley III, combined with additional investment from institutional investors. It’s a significant change in fortunes for a company whose CEO wrote ...