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.
Vendome Acquisition Corporation I (NASDAQ:VNMEU) announced the pricing of its $200 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “VNMEU”, Wednesday, July 2, 2025. The new SPAC plans to focus its search on target business in the consumer sector operating in North America, Southeast Asia, and Europe....
Origin Investment Corp. I (NASDAQ:ORIQU) announced the pricing of its $60 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “ORIQU”, Wednesday, July 2, 2025. The new SPAC aims to mount a broad search for a target with a strong management and both revenue and earnings growth potential....
1RT Acquisition Corp. (NASDAQ:ONCHU) announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “ONCHU”, Wednesday, July 2, 2025. The new SPAC plans to target company in the digital asset ecosystem involved in the creation, storage, exchange or management of such assets, whether...
D. Boral ARC Acquisition II Corp. (NASDAQ:ARBCU) has filed for a $250 million SPAC to give underwriter D. Boral a second in-house SPAC to pursue deals with. The new SPAC offers investors a 1/2 warrant and an initial 18-month time frame to complete a deal. D. Boral II’s sponsor may automatically extend this once by...
Ribbon (NASDAQ:RIBB) has entered into a definitive agreement to combine with Japanese biotech firm DRC Medicine at a pro forma equity value of $422 million. Tokyo-based DRC Medicine manufactures reusable anti-bacterial and anti-allergen wearables and aims to go deeper into the medical device and pharmaceutical space. Transaction Overview Ribbon is expected to provide $50.4 million...