Colin Kaepernick is still standing and looking to pull his community further upward by forming a special purpose acquisition company. The social justice hero and former NFL player has intentions to manifest $250M to fund a SPAC. The company namely Mission Advancement Corp. will concentrate on racial equity and social justice issues.
“I. Consumers are investing in brands that reflect their social values and recognize that purchasing decisions can act as instruments of change. II. Companies are becoming more mission-driven and seeking to align with culturally relevant social causes. III. Brands are evolving into media platforms, enabling authentic cultural and celebrity influencers to help drive awareness, marketing exposure and value” according to their filing.
Kaepernick is cited as the global ambassador and is one of the owners who will also sit on the firms board.
“Najafi and Kaepernick’s commitment to their social mission is reflected in the formation of the independent board, made up of 100 percent Black, Indigenous and people of color (BIPOC) and has a female majority,” states the filing. “In addition, our team has indicated an intent to launch an initiative in connection with the consummation of our initial business combination to provide opportunities for college students from underrepresented communities to gain access to fellowships and full-time opportunities in business and finance.”
The prospectus also stated that “We believe Mr. Kaepernick’s 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.”
BY: BEWITTY Staff