Environmental Impact Acquisition, a blank-cheque company formed by Canaccord, filed an S-1 with the Securities and Exchange Commission, commencing formal plans to go public. The SPAC—led by Daniel Coyne, the global head of sustainability, investment banking at Canaccord—plans to offer 15 million shares at US$10 each and list on the Nasdaq under the symbol ENVIU. (The Logic)

Talking point: Canaccord was one of the first Canadian investment banks to actively participate in the SPAC mechanism as both an underwriter and a sponsor. On Canadian exchanges, the firm has sponsored three SPACs to date, raising $191.2 million, according to data Canaccord provided to The Logic. Its earlier SPACs focused almost exclusively on acquiring cannabis companies. Environment Impact’s prospectus states that it will seek to acquire “one or more businesses with an enterprise value of between US$750 million and US$2 billion” that “generate positive impacts for the environment.”