Morrison & Foerster LLP advised Science Strategic Acquisition Corp. Alpha on the deal.
Science Strategic Acquisition Corp. Alpha (the “Company”) announced that it closed its initial public offering of 31,050,000 units at $10.00 per unit, including 4,050,000 units sold pursuant to the underwriter’s exercise of the over-allotment option in full. The gross proceeds from the offering were $310.5 million before deducting underwriting discounts and estimated offering expenses.
The units began trading on the Nasdaq Capital Market under the ticker symbol “SSAAU” on January 26, 2021. Each unit consists of one share of the Company’s Class A common stock and one-third of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one share of the Company’s Class A common stock at a price of $11.50 per share. Only whole warrants are exercisable. Once the securities comprising the units begin separate trading, the Class A common stock and redeemable warrants are expected to be listed on the Nasdaq Capital Market under the symbols “SSAA” and “SSAAW,” respectively.
The Company is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The Company intends to focus on businesses operating in the direct-to-consumer brands, direct-to-consumer services and mobile and social entertainment sectors.
The MoFo deal team advising on the IPO was led by Washington, D.C. Corporate Finance / Capital Markets partners Justin Salon (Picture) and Andrew Campbell, together with D.C. associates John Hensley and Caroline Diemer.
Law Firms: Morrison Foerster;