Aug. 10 Quick Takes: SPAC to deliver GreenLight to NASDAQ with $282M
Eliem prices $80M IPO, plus updates from Moderna, Arcturus, Liminal, Sydnexis and LQT
GreenLight Biosciences Inc. will land on NASDAQ via a blank-check deal with Environmental Impact Acquisition Corp. (NASDAQ:ENVI) that will raise $282 million, including $105 million in a PIPE, and give the RNA company a valuation of about $1.5 billion. The company’s portfolio includes preclinical therapeutics and vaccine candidates, as well as programs for crop management and plant protection, with an emphasis on underserved parts of the world. It plans to launch nine products by 2026, including an mRNA-based COVID vaccine in 2023, flu vaccines and a gene therapy for sickle cell disease.
Backers of the PIPE include 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...