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ENVI and GreenLight Biosciences Announce Filing of Definitive Proxy Statement/Prospectus and the February 1st, 2022 Special Meeting to Approve Proposed Business Combination

BOSTON, Jan. 14, 2022 /PRNewswire/ -- Environmental Impact Acquisition Corporation (NASDAQ: ENVI) ("ENVI"), a publicly-traded special purpose acquisition company, announced today that ENVI's definitive proxy statement/prospectus (the "Proxy Statement") relating to the previously announced business combination with GreenLight Biosciences, Inc. ("GreenLight"), a biotechnology company focused on RNA research, design, and manufacturing for human, animal, and plant health, has been filed with the U.S. Securities and Exchange Commission (the "SEC") on January 13, 2022.

ENVI has commenced mailing of the Proxy Statement and a notice and voting instruction form or a proxy card relating to the special meeting of ENVI stockholders (the "Special Meeting") to ENVI stockholders of record as of the close of business on December 29, 2021 (the "Record Date"), who will be entitled to attend and participate in the Special Meeting.

The Special Meeting to approve the proposed business combination and related matters is scheduled to be held on February 1st, 2022 at 9:00 A.M. Eastern time. The Special Meeting will be conducted completely virtually, and can be accessed via live webcast at www.virtualshareholdermeeting.com/ENVI2022SM. If the proposals at the Special Meeting are approved, the parties anticipate that the business combination will close and the trading of the combined entity will commence on NASDAQ shortly thereafter, subject to the satisfaction or waiver, as applicable, of all other closing conditions.

The ENVI Board of Directors believes the proposed business combination is in the best interests of ENVI and its stockholders, and recommends that ENVI stockholders vote "FOR" the adoption and approval of the Business Combination Agreement, dated as of August 10, 2021 (as amended by the First Amendment to the Business Combination Agreement, dated July 27, 2021), by and among ENVI, GreenLight, as well as all other proposals included in ENVI's Proxy Statement.

Every stockholder's vote is important, regardless of the number of shares held. Accordingly, ENVI requests that each stockholder complete, sign, date and return a proxy card (online or by mail) as soon as possible so that their votes arrive no later than 11:59 P.M. on January 31, 2022, to ensure that the stockholder's shares will be represented at the Special Meeting. Stockholders that hold shares in "street name" (i.e., those stockholders whose shares are held of record by a broker, bank or other nominee) should contact their broker, bank or nominee to provide instructions on how to vote their shares and ensure that their shares are voted.

If any individual ENVI stockholder does not receive the Proxy Statement, such stockholder should (i) confirm their Proxy Statement's status with their broker or (ii) contact D.F. King, ENVI's proxy solicitor, for assistance via e-mail at [email protected] or toll-free call at (866) 620-2535. Banks and brokers can place a collect call to (212) 269-5550.

ENVI expects to provide stockholders with additional information on how stockholders may vote their shares on its website in the coming days.

About GreenLight

Founded in 2008, GreenLight aims to address some of the world's biggest problems by delivering on the full potential of RNA for human health and agriculture. In human health, this includes mRNA vaccines and therapeutics. In agriculture, this includes RNA to protect honeybees and a range of crops. The company's breakthrough cell-free RNA manufacturing platform, which is protected by numerous patents, allows for cost-effective production of RNA. GreenLight's human health product candidates are in the pre-clinical stage, and its product candidates for the agriculture market are in the early stages of development or regulatory review. For more information, visit https://www.greenlightbiosciences.com/

In August 2021, GreenLight Biosciences announced plans to become publicly listed through a business combination with Environmental Impact Acquisition Corp. (Nasdaq: ENVI).

For more information, visit greenlightbiosciences.com

About Environmental Impact Acquisition Corporation

Environmental Impact Acquisition Corp. is a Special Purpose Acquisition Company. The Company is sponsored by CG Investments Inc. VI, an affiliate of Canaccord Genuity, which manages several investment vehicles.

Important Information and Where to Find It

ENVI has filed a registration statement on Form S-4 with the SEC, which includes a document that serves as a preliminary prospectus and proxy statement of ENVI, referred to as a proxy statement/prospectus. The registration statement was declared effective by the SEC on January 13, 2022 and the definitive proxy statement/prospectus and other relevant documents have been filed with the SEC and mailed to ENVI's stockholders as of the Record Date.

This press release does not contain all of the information contained in the final proxy statement/prospectus or other documents filed with the SEC. Before making any voting decision, investors and security holders of ENVI are urged to read the registration statement, the final proxy statement/ prospectus and all other relevant documents filed or that will be filed with the SEC in connection with the proposed transaction as they become available because they will contain important information about the proposed transaction. Investors and security holders will be able to obtain free copies of the registration statement, the final proxy statement/prospectus and all other relevant documents filed with the SEC by ENVI through the website maintained by the SEC at www.sec.gov or by sending a written request to ENVI at: [email protected].

No Offer or Solicitation

This press release shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed business combination. This press release shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended.

Participants in the Solicitation

ENVI, GreenLight and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from ENVI's shareholders in connection with the proposed transaction. A list of the names of such directors and executive officers and information regarding their interests in the proposed business combination are contained in the final proxy statement/prospectus. You may obtain free copies of these documents as described above.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, with respect to the proposed transaction between GreenLight Biosciences, Inc. ("GreenLight") and Environmental Impact Acquisition Corp. ("ENVI"). These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result" and similar expressions. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to the risk that the transaction may not be completed in a timely manner or at all, which may adversely affect the price of ENVI's securities and the effect of the announcement or pendency of the transaction on GreenLight's business relationships, operating results, and business generally. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and ENVI and GreenLight assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE GreenLight Biosciences, Inc.