Former NFL quarterback Colin Kaepernick announced on Tuesday that he has formed a blank check company that will seek to raise $ 250 million in an initial public offering.
Why it matters: Kaepernick has not played professional football since 2016 but has remained a cultural lightning rod – loved or loathed 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 consumer and impact.”
- Kaepernick is the co-chair and co-sponsor of the SPAC and works 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.