Item 1.01. Entry into a Material Definitive Agreement.

On January 19, 2021, Environmental Impact Acquisition Corp., a Delaware corporation (the "Company"), consummated its initial public offering (the "IPO") of 20,700,000 units (the "Units") including 2,700,000 Units issued to the underwriter's upon full exercise of their over-allotment option. Each Unit consists of one share of Class A common stock of the Company, par value $0.0001 per share ("Class A Common Stock"), and one-half of one redeemable warrant of the Company ("Warrant"), with each whole Warrant entitling the holder thereof to purchase one share of Class A Common Stock for $11.50 per share. The Units were sold at a price of $10.00 per Unit, generating gross proceeds to the Company of $207,000,000.

Simultaneously with the closing of the IPO, pursuant to a Private Placement Warrants Purchase Agreement by and between the Company and HB Strategies LLC, the Company completed the private sale of 2,000,000 warrants (the "Private Placement Warrants") to HB Strategies LLC at a purchase price of $1.00 per Private Placement Warrant, generating gross proceeds to the Company of $2,000,000 (the "Private Placement"). The Private Placement Warrants are identical to the Warrants included in the Units sold as part of the Units in the IPO, except as otherwise disclosed in the Registration Statement. No underwriting discounts or commissions were paid with respect to such sale.

A total of $207,000,000 comprised of $206,750,000 of the proceeds from the IPO and $250,000 of the proceeds of the sale of the Private Placement Warrants, was placed in a U.S.-based trust account at J.P. Morgan Chase Bank, N.A., maintained by Continental Stock Transfer & Trust Company, acting as trustee.

An audited balance sheet as of January 19, 2021 reflecting receipt of the proceeds upon consummation of the IPO, including full exercise of the underwriter's over-allotment option, and the Private Placement has been issued by the Company and is included as Exhibit 99.1 to this Current Report on Form 8-K.

Item 9.01 Financial Statements and Exhibits.





(d) Exhibits

The following exhibits are being filed herewith:





Exhibit No.    Description

99.1            Audited Balance Sheet as of January 19, 2021.
104           Cover Page Interactive Data File (embedded within the Inline XBRL document).




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