Science Strategic Acquisition Alpha, a blank check company formed by venture firm Science Inc. targeting consumer tech, filed on Friday with the SEC to raise up to $225 million in an initial public offering.
The Santa Monica, CA-based company plans to raise $225 million by offering 22.5 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, Science Strategic Acquisition Alpha would command a market value of $281 million.
The company is led by CEO and Chairman Michael Jones, CFO Thomas Dare, and President Peter Pham, who collectively co-founded studio and venture fund Science Inc. and have served as Managing Directors since 2011. Science Strategic Acquisition Alpha’s search for a target will be differentiated and targeted on the areas in which the management team has expertise in driving business transformations and creating value for investors: Direct-to-consumer (D2C) Brands, D2C Services & Marketplaces, and Mobile & Social Entertainment.
Science Strategic Acquisition Alpha was founded in 2020 and plans to list on the Nasdaq under the symbol SSAAU. It filed confidentially on November 6, 2020. Credit Suisse is the sole bookrunner on the deal.
