Environmental Impact Acquisition announced that its definitive proxy statement/prospectus outlining the proposed business combination with GreenLight Biosciences has been filed with the SEC. The SPAC set a Feb. 1 meeting for shareholders to vote on the deal, which values the combined enterprise at $1.2 billion.
As announced in August, the transaction would provide estimated proceeds of $282 million, assuming no redemptions, although the SPAC has since plumped up its PIPE financing by an additional $10 million. If the deal is approved, the combined company also plans to issue $35.25 million in convertible securities to certain existing PIPE investors. Read more.
