Target 1 face-up card on the field that you can place a Spell Counter on; place 1 Spell Counter on that target, then you can add 1 "Spell Power Grasp" from your Deck to your hand. You can only activate 1 "Spell Power Grasp" per turn.
It's a pretty useless SR card to be honest. Yes, it's excellent for deck thinning and if you play "spell counter" decks it's good. But there's only 1 SR copy of this card and so you gotta reset box to get more. This piece of crap is not worth resetting box 3x just to get.