RNA Tech Vaccine Developer GreenLight Biosciences Riding To NASDAQ Debut Via $1.5B SPAC Deal

• GreenLight Biosciences Inc is combining with a special-purpose acquisition company to go public in a deal that values the RNA-technology firm at about $1.5 billion.

• GreenLight is merging with Environmental Impact Acquisition Corp (NASDAQ: ENVI), which is backed by investment bank Canaccord Genuity Group Inc.

• GreenLight's ribonucleic acid (RNA) platform has developed candidates for COVID-19, influenza, and earlier-stage programs in sickle cell disease. It is simultaneously working on RNA-based sustainable alternatives to pesticides and herbicides.

• The first biopesticide is slated to launch in 2022, the company said at the time of its series D.

• The transaction will provide estimated proceeds of $282 million, including $105 million in proceeds from the PIPE transaction priced at $10.00 per share.

• Price Action: ENVI shares are up 1.13% at $9.81 during the market session on the last check Tuesday.

See more from Benzinga

• Click here for options trades from Benzinga

• Will Kidney Transplant Recipients Need Third COVID-19 Vaccine Dose? NIH Starts Pilot Study

• Moderna Outlines Plans For mRNA Vaccine Manufacturing Plant In Canada

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.