The SPAC Podcast: Special Purpose Acquisition Company

What if going public meant buying Main Street — 92 small businesses at a time?

Michael Blankenship sits down with Michael Brown, Co-Founder & CEO of Teamshares — a programmatic acquirer of $0.5M–$5M EBITDA businesses heading to NASDAQ via merger with Live Oak V. Founded in 2019, Teamshares has acquired 92 companies from retiring owners, runs $400M+ in consolidated revenue across 40+ industries and 30 states, and is par...

Most SPAC sponsors don't realize a fairness opinion isn't just a checkbox — it's the line of defense between you and the entire fairness standard if your deal lands in litigation.

Michael Moscarelli, Vice President in Houlihan Capital's Valuation and Financial Advisory practice, joins Mike Blankenship to break down what every SPAC sponsor needs to understand about fairness opinions before the BCA vote. ...

After 130 SPAC IPOs and 140 de-SPACs — the most of any banker he knows of — Brandon Sun shares what 13 years at the center of the blank check market actually teaches you.

In this episode, Michael Blankenship sits down with Brandon Sun, Head of SPAC Investment Banking at Cohen & Company Capital Markets. With 130+ SPAC IPOs raising $45B+ in equity capital and 140 de-SPAC transactions representing $210B+ in combined enter...

Most first-time SPAC sponsors underestimate what a background check actually uncovers — and what it costs them when something surfaces after the S-1 is filed.

James Tunkey is a background check and fraud investigation specialist with deep experience in international due diligence for SPAC IPOs and capital markets transactions. His firm handles approximately 25% of Nasdaq issuances and 40% of Hong Kong Stock Exchange listings annuall...

Not all PIPE capital is created equal — and the wrong money can destroy a de-SPAC before it ever has a chance to perform.

Steve Kann has spent 30 years in small cap investment banking — founding companies, running funds, and advising on capital formation across PIPE financings, IPOs, M&A, and de-SPAC transactions. As Head of US Investment Banking at Arc Stone Securities and Partner at Ocean Street Partners, Steve brings a practi...

Every SPAC sponsor thinks their pitch stands out. Christine McNerney has seen them all — and most don't.

Christine McNerney, Associate Portfolio Manager at Periscope Capital, has been with the firm since 2012 and focused on SPACs since 2021 — from testing the waters through selective PIPE financing. Periscope itself has been active in the SPAC market since 2016.  In this episode, she breaks down exactly what separates fundable ...

ClearThink Capital structured their SPAC IPO with closing fees under $2 million — at a time when most sponsors are paying $10 to $15 million. Bob Brown helped write the SEC rules that govern SPACs back in 1991. Here's what he and Ari built differently.

Robert "Bob" Brown and Ari Brown, Managing Directors of ClearThink Capital, join Michael Blankenship on The SPAC Podcast to break down what separates a well-structured ...

Valuation is one of the most critical and misunderstood aspects of any SPAC transaction.

In this clip, Michael Blankenship and Delon Turner discuss why valuation is not a fixed formula, but a negotiated outcome that must balance regulatory requirements, market expectations, and long-term performance.

Delon explains that while exchanges set minimum thresholds, the real challenge is finding a valuation that can hold up under public mar...

Welcome to another episode of SPAC Updates, a recurring series on the SPAC Podcast where we break down the latest activity shaping the SPAC market.

In this episode, hosts Josh Wilson and Michael Blankenship discuss the current state of the SPAC ecosystem, including the growing number of SPACs searching for targets and how that dynamic is shifting leverage across the market.

With more than 220 SPACs actively seeking merger targets and...

Going public is one of the most important decisions a founder can make. But choosing the right path to the public markets is just as critical as the decision itself.

In this interview, host Michael Blankenship sits down with Peter Wright, founder of McKinley SPAC and a longtime capital markets advisor with experience across more than 30 SPAC transactions.

Peter shares insights from his career as both a sell-side and buy-side research...

One of the biggest emerging sectors in SPAC markets today? Data centers.

In this clip; Michael J. Blankenship and Delon Turner highlights how the rapid growth of AI and cloud infrastructure is reshaping capital markets.

Investors are increasingly evaluating opportunities based on future potential rather than current revenue.

Data center infrastructure is one example where land and location alone can creat...

What makes a company the ideal SPAC target today?

According to venture investor Delon Turner, the answer is increasingly tied to technology.

In this clip, Delon talks with host Michael J. Blankenship and explains that while FinTech and software dominated the 2021 cycle, today’s SPAC targets are shifting toward:
• Artificial intelligence
• Machine learning technologies
• Data center infrastructure
•...

The SPAC market of 2026 looks very different than the SPAC boom of 2021.

In this clip, Delon Turner explains how the market has evolved since the SPAC surge several years ago.

During the peak cycle, there were more SPACs chasing deals than there were viable companies to take public. That imbalance created what many now call the SPAC bubble.

Since then, several things have changed:

• Stronger regulation

• More disciplined sponsor teams

• ...

“I’m an ex-athlete who played 11 years in Europe and a former Wall Street banker. Today I run a venture capital firm investing across FinTech, AI, and software.”

On this episode, Mike Blankenship sits down with SPAC leader and venture investor Delon Turner, founder and managing partner of a venture capital firm focused on emerging technology sectors.

Delon shares how his journey from professional sports to Wall Street shaped his appr...

In this clip, Roland Austrup discusses research from an upcoming white paper comparing modern public operating conglomerates to private equity performance. Companies like Danaher, Constellation Software, Brookfield, Roper, and Berkshire Hathaway have demonstrated that public markets can deliver strong long-term returns while maintaining operational flexibility.

Roland explains why some companies may actually face more constraints un...

Roland explains why capital markets will play a critical role in supporting this next generation of transformative companies. He also discusses how SPACs can provide a more efficient pathway for high-growth businesses to access public capital compared to traditional IPO processes.

With innovation accelerating globally, the ability to connect capital with emerging technologies will shape the next decade of economic growth.

D...

Roland Austrup, Chief Growth Officer at Inventure Inc., joins The SPAC Podcast to discuss how SPACs have evolved into a more disciplined and efficient path for companies to access the public markets.

Roland shares insights from his background in hedge funds, public markets, and building operating companies, explaining why SPAC 2.0 has matured with stronger regulation, better sponsor quality, and tighter timelines.

The conversation ex...

Ranjeet Sundher explains why Tactical Resources selected the SPAC path to go public in the U.S. With MP Materials serving as a successful template for rare earth production via DESPAC, Tactical aims to become the second producing rare earth company in the U.S. He also shares why partnering with the Plum team made strategic sense after nearly a year of collaboration on structure and financing.

Disclaimer: Michael J. Blanken...

Ranjeet Sundher explains how vertical integration in West Texas reduces operational risk and strengthens domestic production. From direct leach processing onsite to producing mixed hydroxides in Texas, this strategy aims to keep critical mineral value creation inside the United States.

Disclaimer: Michael J. Blankenship is a licensed attorney and partner at Winston & Strawn LLP. Joshua Wilson is a licensed Florida real...