Fast Radius Merging with ECP Environmental Growth Opportunities in $1.4B Deal

ECP Environmental Growth Opportunities

Cloud manufacturing and digital supply chain company Fast Radius and ECP Environmental Growth Opportunities today annouced a definitive agreement that values the combined company at a post-transaction equity value of $1.4 billion.

The combined company will have an estimated post-transaction enterprise value of $995 million.

The deal is expected to generate $445 million in gross cash proceeds, consisting of up to $345 million of cash held in the SPAC’s trust account (assuming no redemptions) and an additional $100 million fully-committed PIPE, including a $25 million forward purchase commitment from accounts managed by Goldman Sachs Asset Management. Additional participants in the PIPE include UPS, Palantir, ECP and other institutional investors.

Current Fast Radius management, employees and existing shareholders will roll 100% of their existing equity holdings into equity of the combined company. Read more.

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