GreenLight Biosciences today announced a definitive agreement to be acquired by a group of buyers led by Fall Line Capital in an all-cash transaction valuing the company at approximately $45.5 million.
The news comes a little over a year after Environmental Impact Acquisition shareholders approved a merger deal to take GreenLight public. As announced in August 2021, that transaction was expected to provide estimated proceeds of $282 million.
Under the terms of today's merger agreement Fall Line and its affiliates will commence a tender offer to acquire all of the outstanding shares of common stock for 30 cents per share, net to the seller in cash.
The offer price represents a 50% premium to the closing price of the Company's Common Stock as of May 26, the last trading day prior to the date of the announcement. The company's 52-week high was $8.34. Read more.