Science Inc.’s $270 Million SPAC Targets Mobile and Social Entertainment Companies
Prominent LA incubator debuted on the Nasdaq this week as the SPAC boom rolls onSean Burch | January 28, 2021 @ 10:41 AM Last Updated: January 28, 2021 @ 3:24 PM
Peter Pham and Michael Jones, co-founders of the Santa Monica-based startup incubator Science Inc., are officially joining the SPAC revolution, after their new blank-check company hit the Nasdaq this week valued at $270 million.
The new special purpose acquisition company, dubbed Science Strategic Acquisition Corp. Alpha, started trading on the Nasdaq on Tuesday, with 27 million shares selling for $10 out of the gate. On Thursday, those shares, trading under the ticker symbol SSAAU, were going for $10.35. Science’s SPAC, according to a press release earlier this week, “intends to focus on businesses operating in the direct-to-consumer brands, direct-to-consumer services and mobile and social entertainment sectors.”
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Santa Monica-based
Science, the startup studio led by Mike Jones and Peter Pham, has launched its own Special Purpose Acquisition Company (SPAC), called
Science Strategic Acquisition Corp. Alpha (SSAA). According to Science Strategic Acquisition Corp. Alpha this week, it priced a $270,000,000 initial public offering (IPO), which will trade on the Nasdaq Capital Market under the symbols SSAA and warrants as SSAAW. The new company is a blank check company, which says it was formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses and which intends to focus on businesses operating in the direct-to-consumer brands, direct-to-consumer services and mobile and social entertainment sectors.