Former NFL quarterback Colin Kaepernick revealed Tuesday that he had formed a blank check company that will try to raise $ 250 million in a IPO.
Why it’s important: Kaepernick has not played professional football since 2016, but has continued to be a cultural lightning rod, loved or hated for his social activism, including his strong support for the Black Lives Matters movement.
Details: The SPAC is called Mission Advancement Corp. and is designed to acquire a company at the “intersection of the consumer and the impact”.
- Kaepernick is the co-chair and co-sponsor of SPAC and works in partnership with venture capital firm The Najafi Companies.
- Directors include Attica Jaques, head of global brand consumer marketing at Google, and Katia Beauchamp, co-founder and CEO of Birchbox.