SUMMIT, N.J., Jan. 13, 2022 /PRNewswire/ -- ECP
Environmental Growth Opportunities Corp., a Delaware corporation ("ENNV"),
announced that the virtual stockholder meeting to approve the
previously announced business combination with Fast Radius, Inc., a
Delaware corporation ("Fast
Radius"), has been set for Monday, January
31, 2022 at 9:00 a.m. Eastern
Time. Holders of record of ENNV common stock at the close of
business on January 5, 2022 will be
entitled to vote at the virtual meeting to approve the proposed
business combination and may cast their vote electronically by
visiting www.virtualshareholdermeeting.com/ENNV2022SM. If you hold
your shares through a bank or broker, then you should reach out to
your bank or broker for assistance in voting your shares.
ENNV also announced that the Securities and Exchange Commission
("SEC") has declared effective its registration statement on Form
S-4, which includes a definitive proxy statement in connection with
the stockholder meeting. ENNV has filed its definitive proxy
statement for the stockholder meeting, which will be mailed
together with a proxy card to ENNV's stockholders of record as of
the record date.
Subject to stockholder approval and other customary closing
conditions identified in the previously disclosed merger agreement,
the business combination is expected to close as soon as
practicable following the stockholder meeting. Upon the closing of
the business combination, the combined company will be named "Fast
Radius, Inc." and its common stock will be listed on NASDAQ under
the new ticker symbol "FSRD."
About ECP Environmental Growth Opportunities Corp.
ECP
Environmental Growth Opportunities Corp. is a special purpose
acquisition company formed by Energy Capital Partners Management,
LP for the purpose of entering into a merger, stock purchase, or
similar business combination with one or more businesses. The
strategy of ECP Environmental Growth Opportunities Corp. is to
identify and acquire businesses located in North America that concentrate on combating
climate change by decreasing the carbon intensity of energy
production, increasing the efficiency of industrial and
consumer-related activities, expanding electricity storage and
distribution, and improving the overall sustainability of the
economy through efforts to lower pollution and increase beneficial
reuse. For more information, visit ecpennv.com.
About Fast Radius, Inc.
Fast Radius, Inc. is a leading
cloud manufacturing and digital supply chain company. The Cloud
Manufacturing Platform™ from Fast Radius is a first-of-its-kind
solution that integrates design, production, and fulfillment
operations through a common digital infrastructure to make
manufacturing easier, more accessible, and more sustainable.
Founded in 2017, Fast Radius, Inc. is headquartered in Chicago, with offices in Atlanta, Louisville, and Singapore and microfactories in Chicago and at the UPS Worldport facility in
Louisville, KY.
Cautionary Statement Regarding Forward Looking
Statements
This press release contains certain
forward-looking statements within the meaning of the federal
securities laws with respect to the proposed business combination
(the "Transaction") between ENNV and Fast Radius. These
forward-looking statements generally are identified by the words
"believe," "project," "expect," "anticipate," "estimate," "intend,"
"strategy," "future," "scales," "representative of," "valuation,"
"opportunity," "plan," "may," "should," "will," "would," "will be,"
"will continue," "will likely result," and similar expressions.
Forward-looking statements are predictions, projections and other
statements about future events that are based on current
expectations and assumptions and, as a result, are subject to risks
and uncertainties. Many factors could cause actual future events to
differ materially from the forward-looking statements in this press
release, including but not limited to: (i) the risk that the
Transaction may not be completed in a timely manner or at all,
which may adversely affect the price of ENNV's securities, (ii) the
risk that the Transaction may not be completed by ENNV's business
combination deadline and the potential failure to obtain an
extension of the business combination deadline if sought by ENNV,
(iii) the failure to satisfy the conditions to the consummation of
the Transaction, including the requisite approvals of ENNV's and
Fast Radius' stockholders, the satisfaction of the minimum trust
account amount following any redemptions by ENNV's public
stockholders and the receipt of certain governmental and regulatory
approvals, (iv) the lack of a third party valuation in determining
whether or not to pursue the Transaction, (v) the risk that ENNV's
proposed private offering of public equity is not completed, (vi)
the occurrence of any event, change or other circumstance that
could give rise to the termination of the agreement and plan of
merger (the "Merger Agreement") relating to the Transaction, (vii)
the effect of the announcement or pendency of the Transaction on
Fast Radius' business or employee relationships, operating results
and business generally, (viii) the risk that the Transaction
disrupts current plans and operations of Fast Radius, (ix) the risk
of difficulties in retaining employees of Fast Radius as a result
of the Transaction, (x) the outcome of any legal proceedings that
may be instituted against Fast Radius or against ENNV related to
the Merger Agreement or the Transaction, (xi) the ability to
maintain the listing of ENNV's securities on a national securities
exchange, (xii) changes in the competitive industries in which Fast
Radius operates, variations in operating performance across
competitors, changes in laws and regulations affecting Fast Radius'
business and changes in the combined capital structure, (xiii) the
ability to implement business plans, forecasts, and other
expectations after the completion of the Transaction, and the
ability to identify and realize additional opportunities, (xiv)
risks related to the uncertainty of Fast Radius' projected
financial information, (xv) risks related to Fast Radius' potential
inability to become profitable and generate cash, (xvi) current and
future conditions in the global economy, including as a result of
the impact of the COVID-19 pandemic, (xvii) the risk that demand
for Fast Radius' cloud manufacturing technology does not grow as
expected, (xviii) the ability of Fast Radius to retain existing
customers and attract new customers, (xix) the potential inability
of Fast Radius to manage growth effectively, (xx) the potential
inability of Fast Radius to increase its cloud manufacturing
capacity or to achieve efficiencies regarding its cloud
manufacturing process or other costs, (xxi) the enforceability of
Fast Radius' intellectual property rights, including its
copyrights, patents, trademarks and trade secrets, and the
potential infringement on the intellectual property rights of
others, (xxii) Fast Radius' dependence on senior management and
other key employees, (xxiii) the risk of downturns and a changing
regulatory landscape in the highly competitive industry in which
Fast Radius operates, (xxiv) the risk that Fast Radius may require
additional funding for its growth plans and may not be able to
obtain any additional financing on terms that are acceptable to
Fast Radius or at all and (xxv) costs related to the Transaction
and the failure to realize anticipated benefits of the Transaction
or to realize estimated pro forma results and underlying
assumptions, including with respect to estimated stockholder
redemptions. The foregoing list of factors is not exhaustive. You
should carefully consider the foregoing factors and the other risks
and uncertainties which will be more fully described in the "Risk
Factors" section of ENNV's Quarterly Reports on Form 10-Q, the
Registration Statement (as defined below), the proxy
statement/prospectus included therein (the "Proxy
Statement/Prospectus") and other documents filed by ENNV from time
to time with the SEC. These filings identify and address other
important risks and uncertainties that could cause actual events
and results to differ materially from those contained in the
forward-looking statements. 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 Fast Radius and
ENNV 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. Neither Fast Radius nor
ENNV gives any assurance that either Fast Radius or ENNV, or the
combined company, will achieve its expectations.
Additional Information and Where to Find It
This press
release relates to the proposed Transaction between ENNV and Fast
Radius. ENNV filed a registration statement on Form S-4, including
the Proxy Statement/Prospectus, relating to the Transaction with
the SEC on September 3, 2021 (as
amended, the "Registration Statement"), and the SEC declared the
Registration Statement effective on January
13, 2022. The definitive Proxy Statement/Prospectus will be
sent to all ENNV stockholders as of January
5, 2022, the record date established for voting on the
proposed Transaction and the other matters to be voted upon at a
meeting of ENNV's stockholders to be held to approve the proposed
Transaction and other matters. ENNV will also file other documents
regarding the Transaction with the SEC. Before making any voting
decision, investors and security holders of ENNV and Fast Radius
are urged to read the Registration Statement, the Proxy
Statement/Prospectus and all other relevant documents filed or that
will be filed with the SEC in connection with the Transaction as
they become available because they will contain important
information about the Transaction. Investors and security holders
will be able to obtain free copies of the Registration Statement,
the Proxy Statement/Prospectus, and all other relevant documents
filed or that will be filed with the SEC by ENNV through the
website maintained by the SEC at www.sec.gov. The documents filed
by ENNV with the SEC also may be obtained free of charge upon
written request to ENNV at 40 Beechwood Road, Summit, New Jersey 07901.
Participants in the Solicitation
ENNV, Fast Radius and
their respective directors and executive officers may be deemed to
be participants in the solicitation of proxies from the
stockholders of ENNV in connection with the Transaction. A list of
the names of such directors and executive officers and information
regarding their interests in the Transaction is included in the
Proxy Statement/Prospectus included in the Registration Statement.
You may obtain free copies of these documents as described in the
preceding paragraph.
No Offer or Solicitation
This press release shall not
constitute an offer to sell or exchange or the solicitation of an
offer to buy or exchange any securities, nor shall there be any
sale or exchange of securities in any jurisdiction in which such
offer, solicitation, sale or exchange 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 U.S.
Securities Act of 1933, as amended.
Contacts:
ENNV
Jonathan Keehner / Woomi Yun / Kara
Brickman
Joele Frank, Wilkinson Brimmer
Katcher
212-355-4449
Fast Radius
Fast Radius Investor Relations
Cody Slach, Alex Thompson
(949) 574-3860
FastRadius@GatewayIR.com
Fast Radius Public Relations
Morgan Scott
(312) 465-6345
PR@FastRadius.com
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SOURCE ECP Environmental Growth Opportunities Corp.
