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