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.
Disclaimers:
The views, opinions, and statements expressed by the guest are solely their own and do not necessarily reflect the views of The SPAC Podcast, its hosts, or affiliated organizations. This content is for informational purposes only and should not be construed as investment, legal, tax, or accounting advice.
Michael J. Blankenship is a licensed attorney and is a partner at Winston & Strawn LLP. Joshua Wilson is a licensed Florida real estate broker and holds FINRA Series 79 and Series 63 licensure. The content of this podcast is intended for informational and educational purposes only and should not be interpreted as legal, financial, or compliance advice. The views and opinions expressed by the hosts and guests are their own and do not necessarily reflect the official policies or positions of any regulatory agency, law firm, employer, or organization.
Listeners are encouraged to consult their own legal counsel, compliance professionals, or financial advisors to ensure adherence to applicable laws and regulations, including those enforced by the SEC, FINRA, and other regulatory bodies. This podcast does not constitute a solicitation, offer, or recommendation of any financial products, securities transactions, or legal services.
Let’s Connect on LinkedIn:
👉 Michael J. Blankenship - https://www.linkedin.com/in/mikeblankenship/
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