The DESPAC Podcast
The DESPAC Podcast gives private company leaders the guidance, structure, and truth they need to approach SPAC and DESPAC transactions with confidence. Hosted by Chaz Churchwell, the owner of Churchwell Insurance Agency. The show focuses on the real work required to become a disciplined public company. Each episode cuts through confusion and delivers practical insight from operators, CFOs, auditors, attorneys, bankers, SPAC sponsors, PIPE investors, and advisors who understand the process end to end. Chaz started this show out of frustration. He has seen too many companies rush into the public markets without the systems, controls, and governance needed to survive. His commitment is simple. Help leaders avoid preventable mistakes and build the internal discipline required to thrive after the deal closes. As he says, he is tired of seeing companies go public only to be crushed in the courts because they were not prepared. The vision of the show is to be the leading catalyst for disciplined private companies exploring DESPAC deals built for long-term public success. The mission is to arm leadership teams with the knowledge and resources needed to navigate SPAC transactions wisely and win on the public stage. Each conversation gives you a clear view of what public readiness demands. You learn how to evaluate if your company is a real fit for a SPAC, how to prepare financial controls that withstand scrutiny, and how to build a governance structure that protects your company. You hear how auditors assess your internal processes. You understand what regulators expect. You learn how PIPE investors make decisions. You get direct guidance on investor communication, forecasting discipline, board readiness, and the standards that define public-company performance. The show serves founders, CEOs, CFOs, COOs, controllers, general counsels, private equity partners, and advisors who want to understand the process without spin. Whether you are preparing a portfolio company for a public exit or exploring a SPAC for the first time, this podcast gives you the insight needed to lead wisely. What makes The DESPAC Podcast different is its focus on preparation over hype. You hear the truth from experts who have lived through successful transitions and from those who have witnessed failures up close. You learn what to do, why it matters, and how to protect your company from the operational, financial, and legal risks that catch most teams off guard. If you are considering a SPAC or DESPAC path, this podcast helps you build a clear public-readiness roadmap. If you are already in the process, it helps you strengthen your systems and avoid missteps. And if you have already gone public, it gives you the tools to stabilize, communicate, and operate with more discipline. The DESPAC Podcast is built for leaders who want clarity, accountability, and a serious understanding of what it takes to succeed as a public company. It is a resource you can trust as you prepare for one of the most demanding transitions in business. Chaz Churchwell built this platform to help you win.
Episodes
What actually disqualifies a private company from a SPAC deal? Patrick Sturgeon says the answer is often the same thing that would sink a traditional IPO — size. A single-asset biotech at Phase 1B with a sub-$100M valuation "just should not be a public company," and the exchanges are taking a harder look at microcaps trying to list.
In this episode, Chaz Churchwell sits down with Dimitre Genov, Managing Director, and Patrick S...
Most DESPAC votes don't fail at the ballot box. They fail months earlier, in silence — when no one is communicating with the shareholder base and the redemptions are already climbing. By the time the panicked calls go out to redeeming holders, it's already far too late to change the outcome.
In this episode of The DESPAC Podcast, host Chaz Churchwell sits down with Desiree Carlo, Senior Vice President of Client Services at Lau...
What no one tells founders before a DESPAC: the deal itself is the easy part. Roshan Pujari took Stardust Power from a 2023 startup to a shovel-ready national lithium project in roughly three years — and he is refreshingly candid about the volatility, the hidden costs, and the discipline it took to survive year one as a newly public company.
EPISODE SUMMARY Roshan Pujari, Founder, Chairman, and CEO of Stardust Power Inc. (NASD...
Why do so many DESPAC deals look great on day one and collapse months later? In this episode of The DESPAC Podcast, host Chaz Churchwell sits down with Douglas Ellenoff of Ellenoff Grossman & Schole, one of the most prolific securities attorneys in the SPAC ecosystem with 25 years and over 1,000 SPAC IPOs behind him.
Doug pulls back the curtain on what actually separates DESPAC deals that thrive from the ones that crater. The co...
Misclassify warrants or earnouts and you can blow up your DESPAC valuation, delay closing by months, and stack millions in advisory, audit, and legal fees on a deal that was supposed to be ready.
Sam Salty (Managing Partner, GuzmanGray) and Mark Stoller (CMO, GuzmanGray) join Chaz Churchwell on The DESPAC Podcast to break down what real PCAOB readiness looks like, why AICPA-grade audit evidence rarely survives PCAOB scrutiny...
"You can't be a SPAC and a DESPAC at the same time." That's the line from McGuireWoods partner Alex Weniger-Araujo that captures everything wrong with how most private companies approach going public.
In this episode, Chaz sits down with Alex Weniger-Araujo (Capital Markets & Securities Partner) and Shahrooz Shahnavaz (Tax Partner & Co-Leader) of McGuireWoods — two attorneys with over 100 SPAC and DESPAC transa...
A Certified Fraud Examiner who ran undercover investigations for Kroll is now one of the most valuable assets a private company can have heading into a de-SPAC. James Tunkey has worked 50+ de-SPAC transactions — and he says most private companies have no idea what's coming at them in executive due diligence, or how to use it strategically.
James Tunkey, CFE and Managing Director of I on Asia, brings three decades of fraud inve...
Valuation disputes are the #1 source of litigation, infighting, and blown DESPAC deals. Michael Moscarelli of Houlihan Capital has personally delivered up to 15 DESPAC fairness opinions and breaks down exactly how the process works, what targets consistently get wrong, and why the financial projections you share today could become your single biggest post-close liability.
Michael Moscarelli is a Vice President in Houlihan Capital's ...
This episode provides a quick market update on the SPAC ecosystem and discusses how legal trends and governance practices are shaping the next cycle of deals.
Chaz Churchwell explains why securities litigation has dropped dramatically since the peak SPAC boom and outlines steps SPAC sponsors and targets can take to protect themselves moving forward.
The episode also explores why governance, valuation discipline, and strong advisory t...
Investment bankers play a critical role in the SPAC and DESPAC process, yet their work often happens behind the scenes.
In this interview, host Chaz Churchwell sits down with Jesse Busch of iBankers to unpack the mechanics of taking a company public through a SPAC merger. Jesse shares insights from two decades of SPAC market experience, explaining how boutique investment banks help guide private companies through deal structuring, c...
In this episode, host Chaz Churchwell speaks with Mohammad Hasham, Partner at Cohn Reznick, about the critical role CFO advisory teams play in helping private companies prepare to become public.
Mohammad specializes in capital markets advisory and works with companies navigating IPOs, SPAC mergers, and public company readiness.
The conversation explores how accounting advisory teams support CFOs throughout the public company transiti...
In this episode, host Chaz Churchwell interviews Caitlyn Van Valin, Head of U.S. Sales at Odyssey Trust Company, to discuss the role transfer agents play in helping companies transition into the public markets.
Caitlyn explains how transfer agents serve as the gatekeepers of shareholder records, issuing and tracking shares while supporting companies during corporate action events like DESPAC transactions.
The conversation explores th...
In this episode, host Chaz Churchwell interviews Alexandra Low, Cayman counsel at Appleby and one of the leading advisors supporting SPAC IPOs and DESPAC transactions.
Alexandra shares her perspective from working with international deal teams, U.S. law firms, and SPAC sponsors executing public listings through Cayman-structured entities.
The conversation explores:
- Why the Cayman Islands dominate SPAC incorporation
- How private comp...
In this episode of The DESPAC Podcast, host Chaz Churchwell interviews Chris Cottone, Vice President at Greentree Financial, a family office active in IPO and SPAC advisory since 1999.
Chris shares practical insight from years of experience advising companies through both IPOs and DESPAC transactions.
Topics covered include:
- What types of SPACs targets should evaluate
- How promote structure and dilution impact outcomes
- The importance...
In this episode, host Chaz Churchwell interviews Peter Goldstein, founder of Exchange Listing and sponsor of Emmis Acquisition Corp.
With over 25 years in capital markets, Peter shares a candid comparison between IPOs and DESPAC transactions. He explains why 80% of the preparation process is the same, but the engines driving each path are fundamentally different.
Topics covered include:
- Market-driven price discovery versus negotia...
In this international episode, Chaz Churchwell interviews Daniele D’Alvia, Director of the Banking and Finance Law Institute at Queen Mary University of London and founder of SPACs Consultancy.
Daniele offers a global perspective on SPACs, examining the boom and bust cycle of 2020–2022 and what it revealed about governance, sponsor incentives, valuation discipline, and investor confidence.
Key discussion points include:
In this episode of The DESPAC Podcast, Chaz Churchwell interviews Jordan Darrow, founder of Darrow IR, to discuss the strategic role of Investor Relations in the DESPAC process.
Jordan shares insight from representing SPAC sponsors and operating companies across multiple market cycles. He explains why IR should be engaged early, how investor positioning influences valuation, and why small-cap public companies require disciplined com...
Going public through a DESPAC puts companies under a spotlight most leaders underestimate.
In this episode, we sit down with Jon Uretzky, founding partner of PULP Law Firm, one of the most recognized securities litigation firms in the microcap and small-cap markets.
Jon explains why DESPAC transactions attract disproportionate regulatory and shareholder scrutiny, how SEC actions trigger cascading class-action lawsuits, and why ...
In this episode, host Chaz Churchwell is joined by Seth Farbman, CEO of VStock Transfer, for a deep, practical discussion on the role transfer agents play in DESPAC transactions and ongoing public-company operations.
Seth shares insight from decades in capital markets, explaining how transfer agents serve both issuers and shareholders, why communication failures create real financial risk, and how early preparation changes outcomes....
In this episode, host Chaz Churchwell is joined by Elliot Goldstein of Federal Filings, a veteran EDGAR agent and capital markets operator, for a detailed conversation on the realities of SEC filings during DESPAC transactions.
Elliot explains how filings are prepared, why formatting and XBRL tagging create risk, and where private companies consistently fall short when transitioning to public-company standards. From version control ...
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