Kaepernick's ESG-Focused Blank-Check Biz Raises $300M

Law360 (March 3, 2021, 10:20 PM EST) -- A blank-check company sponsored by former NFL quarterback Colin Kaepernick started trading Wednesday after raising $300 million in an Ellenoff Grossman-led initial public offering.

Arizona-headquartered Mission Advancement Corp.'s units opened at their IPO price of $10 apiece. Mission Advancement — looking to combine with a consumer business that emphasizes environmental, social or governance principles — sold 30 million units in the offering, a boost from its earlier plan to sell 25 million units, U.S. Securities and Exchange Commission filings show.

The company could raise additional funds from the offering if the underwriters use a 45-day option to purchase additional units.

Mission Advancement's units are trading...

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