Welcome to The SPAC Podcast. Before we dive into our SPECIAL series, let’s answer the obvious question: what is a SPAC?
A SPAC is a Special Purpose Acquisition Company — a publicly traded shell corporation created for the purpose of acquiring a private business and taking it public. SPACs raise capital through an IPO without a specific acquisition target in mind, which is why they’re often called “blank check companies.”
The structure allows sponsors — often experienced investors or executives — to raise funds in advance, with the promise to identify and merge with a high-potential company later. SPACs typically have 18–24 months to complete an acquisition, or else they must return the funds to investors.
In today’s markets, SPACs have become a creative and flexible alternative to traditional IPOs.
In this series, we’re going to walk through each of the seven key stages of a Special Purpose Acquisition Company — from formation to going public — using the mnemonic SPECIAL:
S – Sponsor Setup
P – Public Raise (IPO)
E – Evaluate Targets
C – Combination Planning
I – Investor Engagement
A – Approval Process
L – Launch as a Public Company
Each episode will take a closer look at one of these stages — clearly and concisely — to help you understand how SPACs work from start to finish.
Let’s get started.
Disclaimer: Michael J. Blankenship is a licensed attorney and partner at Winston Taylor. Joshua Wilson is a licensed Florida real estate broker and holds FINRA Series 79 and Series 63 licensure. The content of this podcast is for informational and educational purposes only and should not be considered legal, financial, or compliance advice. All views and opinions expressed by the hosts and guests are their own and do not necessarily reflect the policies or positions of any regulatory agency, law firm, organization, or employer. Listeners should consult their own legal counsel, compliance teams, or financial advisors to ensure adherence to applicable regulations, including SEC, FINRA, and other industry-specific requirements. This podcast does not constitute a solicitation or recommendation for any financial products or services.
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