Science Strategic Acquisition Alpha, a blank check company formed by venture firm Science Inc. targeting consumer tech, raised $270 million by offering 27 million units at $10. The company offered 4.5 million more units than anticipated. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50.
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 plans to list on the Nasdaq under the symbol SSAAU. Credit Suisse acted as a lead manager on the deal.
