Colin Kaepernick forms a SPAC

Why it matters: Kaepernick hasn’t played pro football since 2016, but has remained a cultural lightning rod — either loved or loathed for his social activism, including his strong support of the Black Lives Matters movement.

Details: The SPAC is called Mission Advancement Corp., and designed to acquire a company at “the intersection of consumer and impact.”

Kaepernick is the SPAC’s co-chair and co-sponsor, and is working in partnership with venture capital firm The Najafi Companies.