Environmental Impact Acquisition Corp. (NASDAQ:ENVI) announced this afternoon that its shareholders have approved its combination with biotech firm GreenLight in a special meeting held yesterday.
The 8-K filing did not disclose redemption amounts, but ENVI closed yesterday at $8.57. A total of 20,879,590 shares of ENVI’s common stock, representing 80.69% of the shareholders, were present at yesterday’s special meeting with 78.6% voting in favor of the combination.
The SPAC announced in late November that it added $19 million to the PIPE for its deal, totaling $124 million in gross proceeds. The additional $19 million included a $10 million strategic investment from Serum Life Sciences Ltd, a subsidiary of Serum Institute of India Pvt. Ltd, and was made under the same terms as the $105 million common stock PIPE investment that ENVI and GreenLight announced as part of their proposed business combination.
Investors include Serum Life Sciences, Fall Line Capital, Viceroy Capital, S2G Ventures, Cormorant Asset Management, Morningside Venture Investments, Hudson Bay Capital, BNP Paribas Ecosystem Restoration Fund, The Jeremy and Hannelore Grantham Environmental Trust, Continental Grain Company, Pura Vida Investments LLC, Xeraya Capital, and MLS Fund II/Spruce.
In connection with the closing, the company will change its name to GreenLight Biosciences Holdings, and the combined company’s common stock and public warrants are expected to trade on the Nasdaq beginning tomorrow, February 3, 2022, under the ticker symbols “GRNA” and “GRNA.WS,” respectively.
Environmental Impact originally announced its $1.2 billion deal with GreenLight last year on August 10. Massachusetts-based GreenLight is developing a biomanufacturing platform for commercializing ribonucleic acid (RNA) products for both agricultural and human health applications.
ADVISORS
- SVB Leerink LLC and Credit Suisse Securities (USA) LLC are acting as financial and capital markets advisors to GreenLight and co-placement agents on the PIPE transaction.
- Foley Hoag LLP is acting as the legal advisor to GreenLight.
- Canaccord Genuity is acting as the financial advisor.
- Latham & Watkins LLP is acting as legal advisor to Environmental Impact Acquisition Corp.
Churchill IX (NASDAQ:CCIX) has entered into a definitive agreement to combine with autonomous trucking technology firm Plus at a pro forma enterprise value of $1.308 billion. Santa Clara, California-based Plus is developing software to autonomously drive heavy trucks that it expects to launch commercially in 2027. The combined company is expected to trade on the...
At the SPAC of Dawn Following yesterday’s ADP data reading showing that the US job market is cooling, the trading session is to begin today with an update on initial jobless claims, which had been expected to fall slightly. The market will also get trade deficit and productivity readouts before a pair of speeches by...
At the SPAC of Dawn Space has been one of the most promising sectors for SPAC deals in recent years with four of the 14 de-SPACs that closed deals dating back to 2019 now trading above $10 and two of these above $20. A new company is about to test the traditional route to market,...
Quantumsphere (NASDAQ:QUMSU) has filed for a $60 million IPO with a team that has been steadily increasing its experience in SPACs through ties to several others in the Announced and Searching columns. The new SPAC is the second smallest that filed its first S-1 in the month of May and comes after 14-straight filings for...
At the SPAC of Dawn Futures remain slightly red ever since the OECD downgraded global growth forecasts in light of the ongoing tariff disputes. This impact is anticipated to be felt most strongly in the US and Japan, although the later is expected to begin a rebound in 2026. This organization does not include African...