{"id":123926,"date":"2021-02-10T20:11:41","date_gmt":"2021-02-11T01:11:41","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=123926"},"modified":"2021-02-10T20:27:29","modified_gmt":"2021-02-11T01:27:29","slug":"colin-kaepernick-jumps-aboard-spac-craze-looking-to-raise-287-million-for-social-justice-company","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/colin-kaepernick-jumps-aboard-spac-craze-looking-to-raise-287-million-for-social-justice-company\/","title":{"rendered":"Colin Kaepernick Jumps Aboard SPAC Craze, Looking To Raise $287 Million For \u2018Social Justice\u2019 Company"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">30<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fcolin-kaepernick-jumps-aboard-spac-craze-looking-to-raise-287-million-for-social-justice-company%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=123926&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/02\/GettyImages-1182900047-1200x800-1.jpg\" class=\"ff-og-image-inserted\" \/><\/div>\n<p><span>Since being benched by the San Francisco 49ers in 2016, former quarterback Colin Kaepernick has become a prominent activist, claiming to work in pursuit of racial and social justice. Kaepernick\u2019s subsequent actions include the now infamous decision to kneel during the national anthem at NFL games, wearing socks depicting police officers as <a href=\"https:\/\/www.cbssports.com\/nfl\/news\/colin-kaepernick-explains-why-he-wore-socks-with-police-pigs-on-them\/\">pigs<\/a>, and signing a multi-million dollar endorsement<\/span> <a href=\"https:\/\/www.newsweek.com\/colin-kaepernick-net-worth-how-much-will-nike-deal-pay-1103437\"><span>deal<\/span><\/a> <span>with Nike.<\/span><\/p>\n<p><span>This week, Kaepernick made headlines yet again, this time for<\/span> <a href=\"https:\/\/nypost.com\/2021\/02\/10\/colin-kaepernick-becomes-latest-athlete-to-join-spac-craze\/\"><span>becoming<\/span><\/a> <span>the \u201clatest athlete to join Wall Street\u2019s SPAC craze,\u201d teaming up with a private equity investor to form a blank-check company.<\/span><\/p>\n<p><span>The former quarterback has<\/span> <a href=\"https:\/\/www.azcentral.com\/story\/sports\/nba\/suns\/2021\/02\/10\/suns-minority-owner-jahm-najafi-partners-colin-kaepernick-investment-venture\/6704777002\/\"><span>reportedly<\/span><\/a> <span>partnered with Suns minority owner Jahm Najafi, with the pair \u201c<\/span><span>looking to raise up to $287 million through a special-purpose acquisition company with a social purpose in mind.\u201d Kaepernick will serve as co-chair and co-sponsor of Mission Advancement Corp., a \u201c<\/span><span>social justice-focused special purpose acquisition company.\u201d<\/span><\/p>\n<p><span>Known as SPACs, these are publicly traded companies which raise money to identify and purchase a \u201cprofitable and fast-growing company,\u201d with the goal of merging with that company which then takes over the SPAC\u2019s stock listing.<\/span><\/p>\n<p><span>According to the <a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1840148\/000121390021007796\/fs12021_missionadv.htm\">investment prospectus<\/a> filed by Mission Advancement with the Securities and Exchange Commission, they are looking to raise funds \u201cwith the goal of acquiring a billion-dollar, consumer-focused company with the potential to \u2018generate a positive social impact.\u2019\u201d<\/span><\/p>\n<p><span>\u201cWe believe Mr. Kaepernick\u2019s substantial business experience combined with his long-term leadership on racial equity and justice issues will support our success in identifying a prospective target company and adding transformational value to the combined entity,\u201d the prospectus reads.<\/span><\/p>\n<p><span>\u201cAs a reflection of its socially conscious mission, Mission Advancement said its board of directors is composed entirely of people of color and a majority of its members are women,\u201d reported the New York Post. \u201cIt also has a crew of advisers that includes Oscar-nominated filmmaker Ava DuVernay and Silicon Valley investor Ben Horowitz.\u201d In addition, its board includes \u201c<\/span><span>Katie Beauchamp, the CEO and co-founder of Birchbox, and Omar Johnson, a former executive at Apple and Beats by Dre,\u201d<\/span> <a href=\"https:\/\/www.axios.com\/colin-kaepernick-spac-740e5468-1273-473b-bfd4-7a2324edd2ff.html\"><span>and<\/span><\/a> <span>\u201c<\/span><span>Attica Jaques, Google\u2019s head of global brand consumer marketing.\u201d<\/span><\/p>\n<p><span>The quarterback-turned-activist is not the first athlete to enter the \u201cbooming\u201d SPAC market. Forest Road Acquisition Corp., backed by basketball legend Shaquille O\u2019Neal, recently \u201cannounced a deal to take the Beachbody fitness brand public,\u201d and former baseball star Alex Rodriguez \u201cfiled paperwork last week to raise up to $575 million for a SPAC called Slam Corp. that will seek out acquisition targets in the \u2018sports, media and entertainment, technology, and health and wellness industries.\u2019\u201d<\/span><\/p>\n<p><span>Mission Advancement said that it will \u201c<\/span><span>emphasize the racial and diversity issues Mr. Kaepernick has championed on and off the field through its investment in the growing environmental, social and governance investment field.\u201d<\/span><\/p>\n<p><em><span>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a<\/span><\/em> <a href=\"https:\/\/www.dailywire.com\/subscribe\"><em><span>member<\/span><\/em><\/a><em><span>.<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Since being benched by the San Francisco 49ers in 2016, former quarterback Colin Kaepernick has become a prominent activist, claiming to work in pursuit of racial and social justice. Kaepernick\u2019s &#8230;<\/p>\n","protected":false},"author":1,"featured_media":1893151,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[6312,6310,6314,3886,6311,6313],"class_list":["post-123926","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-aboard","tag-colin","tag-craze","tag-jumps","tag-kaepernick","tag-spac"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/123926","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=123926"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/123926\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1893151"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=123926"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=123926"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=123926"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}