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By Reuters Staff
3 Min Read
(Reuters) - A blank-check firm backed by former NFL quarterback Colin Kaepernick and private investment firm Najafi Companies is aiming to raise about $250 million in its initial public offering (IPO), a regulatory filing showed on Tuesday.
Mission Advancement Corp, a special purpose acquisition company (SPAC), will target consumer businesses with an enterprise value of more than $1 billion, which has the potential to generate a positive social impact, it said in a filing. bit.ly/370OayZ
The footballer, who sparked a national debate when he protested against racial injustice by kneeling as the U.S. national anthem played during a game, will serve as co-chairman of the SPAC.