Canaccord's sustainability SPAC Environmental Impact Acquisition prices upsized $180 million IPO

Environmental Impact Acquisition, a blank check company formed by Canaccord targeting the sustainability sector, raised $180 million by offering 18 million units at $10. The company offered 3 million more units than anticipated. Each unit will consist of one share of common stock and one-half of a warrant, exercisable at $11.50.

The company is led by CEO and Director Daniel Coyne, the Co-Head of US Investment Banking and Global Head of Sustainability Investment Banking at Canaccord, and CFO Marc Marano, who currently serves as a Managing Director in the Investment Banking Group at Canaccord. Environmental Impact Acquisition intends to focus primarily on identifying businesses that offer products, services, and technologies that, in addition to serving the needs of customers, generate positive impacts for the environment.

Environmental Impact Acquisition plans to list on the Nasdaq under the symbol ENVIU. Canaccord Genuity acted as a lead manager on the deal.