Virtually unknown mRNA upstart rides SPAC to Nasdaq with a $1.5B valuation as RA-backed neuro player prices IPO

Just a few days after EQRx announced its intent to merge with Eli Casdin’s third blank check company, another SPAC deal is wrapped up and ready for Nasdaq.

RNA tech firm GreenLight Biosciences will reverse merge its way to the public market, the company announced Tuesday morning, netting the biotech a roughly $1.5 billion valuation. GreenLight will merge with the SPAC Environmental Impact Acquisition Corp., which is backed by Canaccord Genuity Group and Hudson Bay Capital Management, and will get $207 million from the SPAC as well as $105 million in PIPE financing.