Science Strategic Acquisition Corp. Alpha (SSAA): history, ownership, mission, how it works & makes money

A Brief History of Science Strategic Acquisition Corp. Alpha (SSAA)

Formation of SSAA

Science Strategic Acquisition Corp. Alpha (SSAA) was established in 2020 as a special purpose acquisition company (SPAC). The primary objective of the company is to identify, acquire, and operate a business in the life sciences sector. The company raised $150 million in its initial public offering (IPO), which was completed on September 15, 2020, by offering 15 million units at $10.00 per unit.

Key Personnel

SSAA was founded by Science Inc., a venture studio focused on building businesses in technology and health. The executives leading SSAA include:

• Kevin Hartz - Co-CEO and Chairman
• Mike Hagan - Co-CEO
• Scott Wolf - CFO

Acquisition Target Identification

In December 2020, SSAA announced its intention to pursue a merger with a private company in the life sciences space. The target identification phase led to a strategic focus on companies engaged in biotechnology, pharmaceuticals, and medical devices.

Business Combination

On July 14, 2021, SSAA announced a definitive agreement to merge with Akili Interactive, a digital medicine company known for developing the first prescription video game for children with ADHD. The transaction valued Akili at an estimated $1 billion. The merger was completed on September 17, 2021.

Impact Post-Merger

After the business combination, shares of the combined company began trading on the NASDAQ under the ticker symbol AKLI. Following the merger, SSAA's pro forma equity value was approximately $1 billion, which included approximately $244 million in cash from the SPAC's trust account.

Financial Performance

As of Q3 2022, Akili Interactive reported revenues of $8.5 million, which marked a significant increase from the previous year. The company projected a revenue growth rate of 300% annually through 2025 as it expanded its product offerings and market reach.

Market Capitalization

Following the merger and public listing, the market capitalization of Akili Interactive fluctuated, reaching a peak market cap of approximately $1.2 billion in early 2022. This valuation reflected investor interest in digital therapeutics, a growing sector within healthcare.

Recent Developments

In 2023, SSAA continued to explore additional partnerships and collaborations in the life sciences domain. The company announced plans to expand its portfolio and aim for both organic growth and strategic acquisitions.

A Who Owns Science Strategic Acquisition Corp. Alpha (SSAA)

Ownership Structure

Science Strategic Acquisition Corp. Alpha (SSAA) is a special purpose acquisition company (SPAC) founded to pursue merger opportunities. The ownership of SSAA is divided among various stakeholders, primarily including institutional investors, retail investors, and insiders.

Major Shareholders

As of the latest proxy statement, the following are major shareholders of SSAA:

Financial Overview

The financial health of SSAA can be assessed through its recent fundraising and stock performance metrics:

• Initial Public Offering (IPO) Date: October 2021
• IPO Price: $10.00 per share
• Total Amount Raised: $250 million
• Current Market Capitalization: Approximately $300 million
• Revenue Forecast for 2023: $50 million
• Debt-to-Equity Ratio: 0.2

Insider Ownership

Insider ownership is crucial for evaluating interests in the company:

Institutional Holdings

Institutional investment plays a significant role in the stability and growth potential of SSAA:

• Vanguard Group: 10% ownership
• BlackRock: 8% ownership
• State Street: 7% ownership
• Other Institutions: 15% combined ownership

Market Performance

SSAA's stock performance is indicative of market perceptions:

• Current Share Price: $12.00
• 52-Week High: $15.00
• 52-Week Low: $9.50
• Year-to-Date Performance: +20%
• Average Trading Volume: 500,000 shares

Science Strategic Acquisition Corp. Alpha (SSAA) Mission Statement

Overview

The mission of Science Strategic Acquisition Corp. Alpha (SSAA) is to identify and partner with innovative companies that are leading the way in the technology and life sciences sectors. SSAA aims to leverage its expertise and resources to foster growth and drive positive outcomes for stakeholders.

Strategic Objectives

To achieve its mission, SSAA focuses on several key strategic objectives:

• Identify high-potential targets in the technology and life sciences sectors.
• Facilitate operational improvements and strategic growth for acquired companies.
• Deliver robust financial returns to investors while promoting sustainable practices.
• Enhance overall shareholder value through prudent resource management.

Financial Performance

As of the latest available data, SSAA has successfully raised approximately $200 million in its initial public offering (IPO). This capital is primarily intended for the acquisition of one or more businesses within its target sectors.

Core Values

SSAA is guided by a set of core values that reflect its commitment to excellence:

• Integrity: Upholding the highest standards of honesty and accountability.
• Innovation: Continuously seeking new ways to enhance value and drive progress.
• Collaboration: Fostering partnerships that create synergies and shared success.
• Sustainability: Committing to practices that benefit the environment and society.

Stakeholder Engagement

Engagement with stakeholders is a crucial part of SSAA's mission. The company regularly conducts surveys and outreach programs to ensure that it meets the needs and expectations of:

• Investors
• Employees
• Customers
• Community Members

Future Initiatives

SSAA plans to expand its portfolio by exploring opportunities in:

• Artificial Intelligence (AI) technologies
• Biotechnology advancements
• Healthcare innovation
• Sustainable energy solutions

Conclusion of Mission Statement

The mission statement of Science Strategic Acquisition Corp. Alpha (SSAA) encapsulates its vision of becoming a leader in strategic acquisitions, with a commitment to innovation, stakeholder engagement, and sustainable growth.

How Science Strategic Acquisition Corp. Alpha (SSAA) Works

Company Overview

Science Strategic Acquisition Corp. Alpha (SSAA) is a Special Purpose Acquisition Company (SPAC) that aims to identify and merge with innovative and growth-oriented companies, particularly within the technology, healthcare, and consumer sectors. SSAA was formed to capitalize on opportunities in a rapidly evolving market.

Financial Structure

The financial structure of SSAA typically includes an Initial Public Offering (IPO) which raises capital to fund future acquisitions. As of the last reported figures, SSAA raised $250 million during its IPO in 2021.

Investment Strategy

SSAA's investment strategy is centered around identifying companies with a strong potential for growth and market disruption. The target companies typically fall within the following categories:

• Technology
• Healthcare
• Consumer Goods

Target Metrics

SSAA evaluates potential acquisition targets based on several critical metrics. The table below outlines these key performance indicators (KPIs) used in their evaluation process:

Acquisition Process

The process of acquisition by SSAA typically involves:

• Identifying potential targets through market research
• Conducting due diligence to assess financial health and operational capability
• Negotiating terms of the acquisition
• Closing the deal and integrating the acquired company into SSAA's portfolio

Recent Activity

As of 2023, SSAA has announced its intention to merge with a leading technology firm specializing in artificial intelligence. The projected merger values the target company at approximately $600 million.

Future Outlook

The outlook for SSAA is contingent upon the successful execution of its acquisition strategy and the performance of its target companies. Analysts project a potential return on investment (ROI) of between 20% - 30% for investors if targeted acquisitions perform as expected.

How Science Strategic Acquisition Corp. Alpha (SSAA) Makes Money

Investment Strategy

Science Strategic Acquisition Corp. Alpha (SSAA) primarily operates as a special purpose acquisition company (SPAC). As of the latest reports, SSAA raised a total of $300 million in its initial public offering (IPO). The company's strategy focuses on finding and merging with innovative healthcare companies.

Revenue Generation through Mergers

SSAA aims to generate revenue by merging with private companies and taking them public. The company identifies target firms with high growth potential, particularly in the life sciences sector. The average size of SPAC mergers in the healthcare space was approximately $500 million in 2021.

Management Fees

SSAA collects management fees from investors. These fees typically amount to around 2% of the gross proceeds raised in the IPO, translating to $6 million based on the initial funds raised.

Equity Investments

Upon completing a merger, SSAA retains equity ownership in the newly formed company. This equity can potentially appreciate significantly, particularly if the target company achieves operational milestones. The average return on investment for SPACs in the healthcare sector has been reported at around 15% annually.

Warrants and Options

As part of the SPAC structure, SSAA issues warrants that allow investors to purchase additional shares at a fixed price. These warrants typically have a strike price at a premium to the IPO price, often set at $11.50. For every unit sold, investors receive one warrant, which can lead to additional revenue if the stock performs well post-merger.

Table of Financial Performance

Long-term Value Creation

SSAA also focuses on long-term value creation through strategic partnerships and investments in emerging healthcare technologies. The performance metrics indicate that companies in SSAA's portfolio have seen a cumulative annual growth rate (CAGR) of 25% over the last five years.

Exit Strategies

Upon completion of successful mergers, SSAA may consider exit strategies such as secondary offerings or private placements to monetize its equity stake. The typical valuation multiple for companies post-SPAC merger ranges from 3x to 5x revenue.