Mission Advancement Corp
❌ DelistedTrust Size
$250M
Peak Price
$10.00
Current Price
$0.00
Return
0.0%
Peak Market Cap
$250M
What Happened
Colin Kaepernick's SPAC raised $250 million but failed to find a target company. It liquidated and returned cash to shareholders — ironically one of the better outcomes in SPAC history.
Mission Advancement Corp was a SPAC co-led by former NFL quarterback Colin Kaepernick, raising $250 million in its 2021 IPO. The SPAC aimed to merge with a company focused on social impact and minority empowerment.
Despite the celebrity backing and substantial war chest, Mission Advancement failed to find a suitable merger target within its deadline. The SPAC market was cooling, and the social impact criteria narrowed the universe of potential deals.
Mission Advancement liquidated and returned the trust cash to shareholders. While investors got approximately their money back, it represented a complete failure of the celebrity SPAC thesis.
Ironically, as Chamath's own data showed, SPACs that liquidated without merging generated better returns than most that completed deals.
Key People
Colin Kaepernick
Co-Sponsor
Former NFL QB and social justice activist
Jillian Williams
Co-Sponsor & CEO
Investment professional who led the SPAC
Timeline
2021-04-14
SPAC IPO raises $250M
2022-12-01
Deadline approaches with no target identified
2023-04-01
Liquidates and returns cash to shareholders
⭐ Celebrity SPAC
This SPAC featured celebrity involvement — a common pattern during the 2020-2021 mania where famous names lent credibility to blank-check companies.
📄 SEC Filings
View all EDGAR filings for Mission Advancement Corp
Risk Scores
Dilution Score
10/100
Insider Profit Index
5/100