Former NFL player Colin Kaepernick has formed a special purpose acquisition company (SPAC) that is s💎eekinౠg to raise $250 million in an IPO.

The former San Francisco 49ers quarterback disclosed in a that his blank-check vehicle, Mission Advancement, intends to acquire a company at "the in🌃tersection of consumer and impact.”

Kaepernick, who hasn’t played professional football siꦡnce 2016, has become a social activist, vocalizing his support for the Black Lives M🤡atter movement.

The athlete, who is forming the SPAC with private equity firm Najafi Cos, will serve as the company’s co-chair alongside Jahm Najafi, who will also be CEO of Mission Advancement. Directors include Attica Jaques, Google's head of global brand consumer marketing, and Katia Beauchamp, co-founder and CEO of Birchbox.

News of Kaepernick’s SPAC comes as Shaquille O’Neal’s Forest Road Acquisition Corp. announced a merger with Beachbody Co. Group in a deal valuing the fitness-and-nutrition business at $3 billion. Meanwhile, former Yankees star Alex Rodriguez said in a that he is raising $500 million for a SPAC called Slam Corp. targeting a company in the “sports, media and entertainment, technology, and health 🐬and wellness industries.”

The SP🐟AC frenzy shows no signs of slowing down this year, after gaining momentum in 2020. So far in 2021, SPACs have raised more than $38 billion through 128 IPOs, according to SPAC Research.