GreenLight Biosciences and Environmental Impact Acquisition have agreed to a business combination that would give the merged company an estimated enterprise value of $1.2 billion.
The transaction will provide estimated proceeds of $282 million assuming delivery of the full amount held in trust by ENVI. This includes $105 million in proceeds from a fully committed PIPE with support from 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, Xeraya Capital, and MLS Fund II/Spruce.
GreenLight Biosciences is an integrated life sciences company with a biomanufacturing platform for discovering, developing, scaling, and commercializing ribonucleic acid (RNA) solutions at volume for a diverse product pipeline across agriculture and human health.
Formed by investment bank Canaccord Genuity, Environmental Impact Acquisition raised $207 million in a January IPO. Read more.
