Science Strategic Acquisition Bravo, a second blank check company formed by venture firm Science Inc. targeting consumer tech, withdrew its plans for an initial public offering on Tuesday. It had filed in March 2021 to raise $200 million by offering 20 million units at $10, with each unit consisting of one share of common stock and one-quarter of a warrant.
The company was set to be 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 Bravo's search for a target was set to be focused on direct-to-consumer (D2C) brands, D2C services & marketplaces, and mobile & social entertainment.
The group's other SPACs include January 2021 IPO Science Strategic Acquisition Alpha (SSAAU; -1% from $10 offer price), which is still searching for a target, and Science Strategic Acquisition Charlie (SCICU), which withdrew concurrently with Science Strategic Bravo.
The Santa Monica, CA-based company was founded in 2021 and planned to list on the Nasdaq under the symbol SCIBU. Credit Suisse was set to be the sole bookrunner on the deal.
