ECP ENVIRONMENTAL GROWTH OPPORTUNITIES CORP. ANNOUNCES ADJOURNMENT OF SPECIAL MEETING OF STOCKHOLDERS

Provided By PR Newswire

Last update: Feb 1, 2022

SUMMIT, N.J., Jan. 31, 2022 /PRNewswire/ -- ECP Environmental Growth Opportunities Corp. (Nasdaq: ENNV), a Delaware corporation ("ENNV"), today announced that it had entered into an amendment (the "Amendment") to the merger agreement relating to its previously announced business combination with Fast Radius, Inc., a Delaware corporation ("Fast Radius"). Pursuant to the Amendment, the parties agreed to, among other things, reduce the base purchase price from $1.0 billion to $750 million. As a result of the Amendment, ENNV will issue up to 75,000,000 newly issued shares of Class A Common Stock, par value $0.0001 per share, of ENNV ("ENNV Class A common stock") in connection with the business combination, up to 65,000,000 shares of which will be issued or subject to ENNV awards at the closing of the business combination and 10,000,000 shares of which will be issuable upon the attainment of certain performance thresholds.