SPAC Watch: Science Strategic Acquisition Corp. Alpha (SSAAU) – Strong team could make it a winner
January 27, 2021

Science Strategic Acquisition Corp. Alpha (SSAAU) priced its IPO this week, raising $270mm. The SPAC is sponsored and led by Science inc., a venture fund. The S-1 states Science will focus on the Direct-to-Consumer (“D2C”) Brands, D2C Services & Marketplaces, or Mobile & Social Entertainment industries; no target size has been mentioned.

Its units are currently trading at ~$10.35, slight premium to its offering price of $10.

The Team – First SPAC

First SPAC for this team that has substantial VC history with some brands including: Dollar Shave Club, Ring, and Maker Studios

Michael Jones is CEO and Chairman of Science Strategic Acquisition Corp. Alpha. Jones is a co-founder and MD of Science inc., and previously had stints as CEO of Myspace and Userplane.

Peter Pham is President of Science Strategic Acquisition Corp. Alpha. Pham is a co-founder and MD of Science inc., and previously had executive leadership at Photobucket and BillShrink.

Thomas Dare is CFO of Science Strategic Acquisition Corp. Alpha. Dare is a co-founder and MD of Science inc., and previously had executive leadership at Tsavo Media and Sparks Networks SE.

Greg Gilman is a director at Science Strategic Acquisition Corp. Alpha. Gilman is a co-founder and MD of Science Partners Management, and Executive Chair of Protego Trust Company and RxVantage.

Jeff Kearl (C) is a director at Science Strategic Acquisition Corp. Alpha. He’s a MD at Pelion Venture Partners.

Jennifer Rubio is a director at Science Strategic Acquisition Corp. Alpha. She’s co-founder and President of JRSK (commonly known as “Away”, a D2C lifestyle brand. She also serves on the board of TS Innovation Acquisitions Corp.

Colette Taylor is a director at Science Strategic Acquisition Corp. Alpha. She’s on the board of multiple trust banks, and previously was CEO of Russell Investment Trust Company.

Take Away

This is the first SPAC for the Science leadership team (aside from director Rubio), but there’s no lack of overall business experience and expertise. Some notable non-SPAC funding success include Dollar Shave Club, Ring, and Maker Studios. Investors are banking on Jones and co to make the right acquisition in 2021.

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