ECP Environmental Growth Opportunities Corp.’s $1.4 Billion Business Combination with Fast Radius

DLA Piper represented Fast Radius, while Latham & Watkins LLP represented ECP Environmental Growth Opportunities Corp. in the transaction.

Fast Radius, Inc., a cloud manufacturing and digital supply chain company, and ECP Environmental Growth Opportunities Corp. (NASDAQ: ENNV) have entered into a definitive agreement that will result in Fast Radius becoming a publicly-listed company.

Following the close of the transaction, which is expected in the fourth quarter of 2021, ENNV will be renamed Fast Radius, Inc. and is expected to remain listed on the NASDAQ. The combined company will have an estimated post-transaction enterprise value of US$995 million with an estimated equity value of US$1.4 billion due to the contribution of US$445 million in gross cash proceeds from the transaction.

Fast Radius is a dynamic software and industrial technology firm that has pioneered and continues to scale the first-of-its-kind cloud manufacturing and digital supply chain infrastructure. The Fast Radius solution combines proprietary software with a network of company-owned distributed micro-factories and third-party suppliers. This allows engineers to design, produce and fulfill custom parts across a range of manufacturing technologies, including additive manufacturing, CNC machining and injection molding.

DLA Piper advised Fast Radius with a team led by partner Adam Spector (Picture), and included partners Scott Kapp, Neal Aizenstein (both of Chicago), Jeffrey Selman (San Francisco), Michelle Lara (San Diego) and Stacy Paz (Silicon Valley); of counsel Sameer Ghaznavi (Chicago); and associates Kyle Stearns, Brian Wohlberg (both of Chicago), Patrick Burri and Nick Gerlach (both of Silicon Valley).

Latham & Watkins LLP represented ECP Environmental Growth Opportunities Corp. in the transaction with a corporate deal team led by New York partners David Kurzweil and David Owen and Houston partner Ryan Maierson, with Houston associate Bryan Ryan.

Involved fees earner: Neal Aizenstein – DLA Piper; Patrick Burri – DLA Piper; Nicholas Gerlach – DLA Piper; Sameer Ghaznavi – DLA Piper; Scott Kapp – DLA Piper; Michelle Lara – DLA Piper; Stacy Paz – DLA Piper; Jeffrey Selman – DLA Piper; Adam Spector – DLA Piper; Kyle Stearns – DLA Piper; Brian Wohlberg – DLA Piper; David Kurzweil – Latham & Watkins; Ryan Maierson – Latham & Watkins; David Owen – Latham & Watkins; Bryan Ryan – Latham & Watkins;

Law Firms: DLA Piper; Latham & Watkins;

Clients: ECP Environmental Growth; Fast Radius;

Author: Martina Bellini