Environmental Impact Acquisition Corp. has announced that holders of the 20,700,000 units sold in the company’s initial public offering may separately trade the company’s Class A common stock and warrants included in the units. Class A common stock and warrants that are separated will trade on the Nasdaq Stock Market under the symbols “ENVI” and “ENVIW,” respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Those units not separated will continue to trade on the Nasdaq Stock Market under the symbol “ENVIU.” Holders of units will need to have their brokers contact Continental Stock Transfer & Trust Company, the company’s transfer agent, in order to separate the units into Class A common stock and warrants.
While Environmental Impact may pursue a business combination target in any business or industry, the company intends to focus on identifying businesses that offer products, services and technologies that, in addition to serving the needs of customers, generate positive impacts for the environment. The company is sponsored by CG Investments Inc. VI, an affiliate of Canaccord Genuity, which manages several investment vehicles.
The units were initially offered by the company in an underwritten offering. Canaccord Genuity acted as sole book running manager of the offering.