SPACs often bring companies from emerging technology sectors into the public markets, but sometimes it is their role to list companies that have already established themselves, albeit in something of a niche. 

Stuart explains how the AIR’s profitable position in the high-margin hookah-shisha market gave it options on how to come public, and why it chose the SPAC route for that journey. How is this lifestyle brand growing and where? And, what additional revenue streams are there still to be had from its 600-year-old core product?

Fusion technology may sound like the future, but it is set to come to the public markets very soon. Greg explains General Fusion’s path to expand its technology beyond its first plant into commercialization in the 2030s, and what advantages fusion power plants can provide over nuclear fission reactors.

Chris lays out why now is the right time to bring General Fusion to the public markets, and how the Spring Valley team put a price on the opportunity at this stage in its development.

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This week, we speak with Key Mining founders Cesar Lopez and John Ryan as well as Compass Digital Acquisition Corp. CEO Tom Hennessy to break down their $303 million business combination.

Cesar and John discuss how they brought together a signature titanium mining project in Chile with a water desalination project that is set to support it. They lay out why they are combining these two assets with a copper project in Arizona and how both stand to benefit from the critical metals incentives in the Inflation Reduction Act.

Tom explains how this company fits in his growing family of SPAC transactions and what the roadmap ahead looks like for it beyond close and the listing this deal brings.

This week, we speak with Adam Back, CEO of Bitcoin Standard Treasury and Sean Bill, who serves as the company’s Chief Investment Officer. The two discuss their company’s $4 billion combination with Cantor Equity Partners I (NASDAQ:CEPO), announced last July.

They discuss why the Cantor team was a good fit for their goals of bringing innovative Bitcoin-based financing structures to the market, and why they believe Bitcoin Standard Treasury’s deep experience with the currency presents unique advantages as it aims to set up a multiple lanes for yield generation.

How do the company’s long-held Bitcoin reserves and its unique Bitcoin PIPE differentiate it from the other treasury plays, and what are the factors that unite the treasury companies that manage to consistently trade above NAV?

This week, we speak with Brent Borden, CEO of Precision Aerospace & Defense Group and Adam Gishen, CEO of FACT II Acquisition Corp. (NASDAQ:FACT). The two announced a $310 million business combination last December.

Brent explains how his company has selected with unique capabilities to build an EBITDA-positive network of subsidiaries that differs from traditional private equity roll-up plays.

Adam explains how the company’s backlog provides significant visibility into its future revenue and how the FACT II team will continue to advising the company through its next wave of growth and beyond.

This week, we speak with Dr. Joe Fitzsimons, CEO of Horizon Quantum, and Harry You, Chairman of dMY Squared Technology Group, Inc (OTC:DMYY). The two announced a $546 million combination in September.

Joe explains how Horizon is endeavoring to create the first universal operating system for quantum computers and why that presents both challenges and opportunities while these machines are still in the error correction phase.

Harry gives his perspective on how the development of the quantum computing space could mimic the trajectory of classical computing and which layers of this emerging tech stack could offer the greatest upside to public investors at this early stage.

This week, we speak with Maximilian Martin, CEO and Co-founder of The Enhanced Games. It announced a $1.3 billion combination with A Paradise Acquisition Corp. (NASDAQ:APAD) in November.

Max explains why he has endeavored to create this new competition where athletes may use banned, but otherwise legal substances to up their game, and how the company plans to parlay this event into a broader consumer business. How do you get athletes to walk away from their existing careers for this experimental idea and what kind of precedent is there for such a venture?

But, the market wasn’t always so bullish on quantum.

This week we return to a conversation we had with Alan Baratz, CEO of D-Wave (NYSE:QBTS) in February 2025.

At the time, Quantum computing stocks had just begun their recent revival and Alan helped break down the ups and downs of the previous years as well as what had changed in the technology.

He shares valuable advice from how D-Wave rolled with the punches in an unfavorable market after closing with DPCM Capital Inc. in 2022, and also how investors should interpret the news of technological advancements coming out the industry.

Is it possible to build a business model that combines features of Amazon Web Services, NVIDIA and a biotech drug developer? Well, Xanadu aims to find out, and it is funding that path via a SPAC.

Christian explains how Xanadu differentiates itself from other players in the quantum computing space by focusing on specific hardware advantages as well as a software approach that allows its machines to work in conjunction with other quantum or traditional computers.

Bill also explains the market has changed since the last wave of SPAC deals in quantum computing and how Xanadu matched the major proving points that Crane Harbor was looking for.

This week, we speak with Teamshares CEO Michael Brown along with Live Oak V CEO Rick Hendrix and CFO Adam Fishman. Michael explains how the company has honed an approach that has seen it absorb targets from a diverse set of industries efficiently, and how this merger can reduce the company’s cost of capital for that mission.

Rick and Adam also lay out how Teamshares fits their own merger criteria that values opportunities that are first-of-their kind for the US market, and how they put a valuation on this unique business.

Crypto treasury deals were one of the major themes of 2025 SPAC dealflow, but they are far from being all the same.  Asheesh explains how the company plans to leverage its XRP holdings to generate yield over the long term and how XRP’s unique appeal in international markets presents a fresh opportunity for the crypto treasury model.

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This interview contains forward-looking statements. See linked press release for important disclaimers: https://www.evernorth.xyz/press-release-10-20-2025

This week, we speak with Roozbeh Charli, CEO of Einride, which is introducing fully cabless autonomous trucks into customer fleets and accelerating that rollout through its business combination with Legato Merger Corp. III (NYSE:LEGT).

Roozbeh explains how Einride has sped up commercialization by integrating autonomous operations into its existing fleet electrification services, and why he believes now is the right moment for the industry to move past incremental steps and embrace what fully autonomous logistics can ultimately look like.

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Joining the discussion are Ed Kovary, Head of Capital Markets at BTIG, and Jerry Serowik, Head of Capital Markets at Cohen & Company, two firms that were among the most active in the SPAC ecosystem in 2025.

Drawing on firsthand experience, the conversation covers how deal structures, investor expectations, and sponsor strategies shifted over the course of the year and how capital markets conditions shaped issuance and deal execution.

The episode concludes with a forward-looking discussion on what these trends imply for SPAC activity in 2026, including where opportunities may emerge and what risks remain for the asset class.

This week, we talk with Merlin Labs CEO Matt George about why the company sat out the first wave of SPAC-driven aerospace mania, and why partnering with Inflection Point Acquisition Corp. IV (Nasdaq: BACQ) feels like the right moment to go public.

Matt explains that, in aviation, the use cases for autonomy can be more immediate and valuable than on the ground, from reducing crew needs on cargo and transport flights to enabling fully uncrewed operations in military and civil aviation.

We also explore the broader macro conditions driving demand higher, and where the market for autonomous flight stands today. How fast could it grow, and how high could it fly?

SPACs have played a big role in the race to develop US-based sources of rare earth materials, but few available target companies are within a few years having an operational mine. Tactical Resources aims to be the exception.

This week, we speak with Ranjeet Sundher, CEO of rare earth miner Tactical Resources, and Kanishka Roy, CEO and Chairman of Plum Acquisition Corp. III (OTC:PLMJF). They came together in a $589 million business combination announced in August.

Ranjeet explains how the unique qualities of his company's Peak Project could lend itself to a much earlier commercial launch. And Kanishka lays out how that timeline impacts the value case for this transaction in an environment where the demands and supply limits don’t look to ease anytime soon.

One company that is trying to bring a new technology-based approach to this is BOXABL, and it has partnered with a SPAC to accelerate that vision. This week, we speak with Galiano Taramani, founder and co-CEO of BOXABL and Larry Swets Jr., CEO of FG Merger Corp. II (NASDAQ:FGMC). The two announced a $3.5 billion combination in August.

Galiano explains how BOXABL has found an edge in how it ships its modular homes and how it hopes to eventually manufacture them at a rate of one house per minute. Larry explains how BOXABL’s unique crowdfunding path gives FG Merger II confidence in the company’s journey after listing and how adding financial services angles to its platform could potentially take it to the next level.

How do you build a fast-growing oil and gas company without drilling single hole and without planning to at any point in the future? That may sound like a riddle, but it’s actually a business model that public investors will soon be able to invest in.

This week, we speak with Will Ulrich, CEO of energy firm Presidio and Jerry Silvey, CEO of EQV Ventures Acquisition Corp. (NYSE:EQV). The two announced a $664 million combination in August.

Will explains how Presidio has built a platform to acquire and optimize mature oil and gas assets and why he is confident that the company’s playbook will allow it to remain aggressive while still paying out a sizeable dividend as soon as it lists.

Jerry tells us how his team’s first SPAC has managed to secure institutional buy-in for its vision at each stage and why he believes the time to accelerate Presidio’s strategy is now.

This week, we speak with Matthew Kinsella, CEO of Infleqtion. It announced a $1.8 billion business combination with Churchill Capital Corp. X (NASDAQ: CCCX) in September.

Infleqtion has already commercialized a line of quantum sensing devices for defense applications, which has put it ahead of many in the quantum pack in terms of revenue.

Matthew explains why the company has decided to carve out a place for itself in this area of critical technology while still simultaneously working to advance its computing technology and where he thinks the industry could be headed.

Which quantum computer will win? And, how much more addressable work is out there already in the quantum sensing market once Infleqtion is able to put this deal’s proceeds to work?

Developers of small, modular nuclear reactors have been among the most prized stocks of 2025 given their potential to be big players in the energy mix as data center demand booms. This demand is massive, but when it comes to nuclear reactor design, Terra Innovatum believes it’s a matter of the smaller the better.

This week, we speak with Giordano Morichi, Chief Business Development Officer and Head of Investor Relations at Terra Innovatum, and Gus Garcia, Co-CEO of GSR III Acquisition Corp. (NASDAQ:GSRT). The two announced a $475 million business combination April and are now nearing the end of their merger process.

Giordano explains why the unique size of Terra Innovatum’s 1 MW reactor designs make it a more competitive fit for a host of applications, and how its fuel source could get it to market faster initially and more efficiently over time.

Gus gets into how these factors have the potential to compound Terra Innovatum’s advantages and why the major gains made by the company’s listed peers has made its valuation even more attractive since the deal was struck.

She tells us how it has been quite the ride through the last two SPAC cycles and where she thinks SPACs at times went wrong during the last one. Right now, she is focused on completing Dynamix’s combination with crypto treasury firm The Ether Machine.

She explains why her team zeroed in on Ethereum as the cryptocurrency with the most promise and how that vision was informed by her team’s history of dealmaking in the oil and gas space.

How will these crypto treasury plays continue to differentiate as they become more numerous? And, what opportunities does she see around the bend for Dynamix III?

This week, we speak with Mark Mukhidja, CEO of uranium mining firm Eagle Energy Metals, and Chris Sorrells, Chairman and CEO of Spring Valley Acquisition Corp. II (NASDAQ:SVII).

The two announced a $312 million dollar combination back in July that would create a unique stock that is a pure play on US-based uranium production.

Mark explains how the US went from being a leading uranium producer to one that imports nearly all of its uranium and how Eagle Energy’s Aurora project has the potential to start turning that around.

Chris tells us why this upstream nuclear play is a logical follow-up to Spring Valley I’s successful combination with small nuclear reactor developer NuScale (NYSE:SMR) and why he believes this transaction is structured with both Eagle Energy’s short-term and long-term financing needs in mind.

That company is Kodiak, which announced a $2.6 billion combination with Ares Acquisition Corporation II (NYSE:AACT) in April. Kodiak CEO Don Burnette joins us to explain how the company has sought to blaze a trail to commercialization for the company while burning a fraction of the R&D cash that some of its peers have to get to this same point.

Don explains how the company has looked to apply that same capital efficiency to the structure of its SPAC combination and what opportunities he sees on the other side of the company’s drive into the public markets.

We sat down with Niccolo de Masi of the dMY SPACs to get his takes on how SPACs were going to roll with the punches and his own vision for when a refreshed SPAC cycle would reemerge.

Now that SPACs are back, which of these predictions came to fruition and what lessons from the down market have teams brought into the new cycle?

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To help better understand this new genre of SPAC deal, we sat down with Sebastian Bea, President and Head of Investments at ReserveOne, which announced a $1 billion combination with M3-Brigade Acquisition V Corp (Nasdaq: MBAV) last month.

We're also joined by Vik Mittal, Managing Member at Meteora Capital Partners. They discuss why this particular play has come to the forefront of the market now and how the market has reacted as more and more entries of this deal type have been announced.

Sebastian also explains how ReserveOne plans to generate returns greater than the value of its underlying assets and are earmarking a portion of its portfolio for private investments.

How will ReserveOne and other companies of this type continue to differentiate themselves as their cohort grows? And what happens if the US government changes its attitude on crypto once again?

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IMPORTANT DISCLOSURES: This podcast is for informational purposes only and does not constitute investment advice, a recommendation to buy or sell securities, or a solicitation of any kind. The views and opinions expressed by the guests are their own and do not necessarily reflect the views of their respective firms or affiliates.

Past performance discussed is not indicative of future results. All investments involve risk, including potential loss of principal. Any performance figures mentioned have not been independently verified and may not reflect actual client experiences or net returns after fees and expenses.

The guests may have financial interests in companies, securities, or investment strategies discussed. Sebastian Pedro Bea is associated with the M3-Brigade V/ReserveOne transaction mentioned in this discussion. Vik Mittal serves as Managing Member of Meteora Capital, LLC and principal of numerous SPACs.  These relationships may create conflicts of interest.

Nothing in this podcast should be construed as personalized investment advice. Listeners should consult with qualified financial professionals before making investment decisions. Market predictions and forward-looking statements are speculative and subject to significant uncertainty.

This week, we speak with Simon Irish, CEO of nuclear plant developer Terrestrial Energy, and Shawn Matthews, CEO and Chairman of HCM II Acquisition Corp. (NASDAQ:HOND). The two announced a $1.3 billion combination in March.

Terrestrial Energy is developing designs for small modular nuclear reactors that produce heat for industrial clients along with power. Simon explains why he believes this approach is tailor-made for the demands of the times and how he sees the technology scaling.

Shawn discusses how the public markets have picked up enthusiasm for nuclear power lately and how this helped informed his evaluation of the opportunity with Terrestrial Energy.

On this special edition of the SPACInsider Podcast, we bring together a panel of SPAC veterans to explore the state of the market from the perspectives of sponsors, investors, and underwriters.

Joining us are serial SPAC sponsor Harry You, Brandon Sun, Head of SPAC Investment Banking at Cohen & Company, and Vik Mittal, Managing Director at Meteora Capital.

Together, they unpack how the complexion of the 2025 SPAC market is shifting and which strategies are rising to the top. How have crypto-focused deals reshaped the landscape, and how many more iterations of that playbook can succeed?

We also get into how macro headwinds and tailwinds affect the traditional IPO window and SPAC deal flow, and whether activity is poised to accelerate in the second half of the year.

It’s a wide-ranging, mid-year pulse check-in on SPACs. 

Give it a listen.

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This week, we speak with Kyivstar CEO Oleksandr Komarov about the company’s $2.2 billion dollar combination with Cohen Circle Acquisition Corp. I (NASDAQ:CCIR).

Few companies have been had to forge themselves in the flames recently quite like Ukraine’s leading telecom and digital services provider Kyivstar. Now, Kyivstar is not only telling that story but pitching it to public market investors.

Oleksandr explains how the company has maintained high EBITDA margins despite the many disruptions unleashed by Russia’s ongoing invasion of Ukraine. 

He gets into why he decided now was the right time to make Kyivstar the first pureplay Ukraine stock to be listed in the US, and how its listing would give investors a chance to participate in the company’s industry consolidation plans as well as the eventual reconstruction of Ukraine.

This week, we speak with David Liu, CEO of autonomous trucking company Plus. Plus announced a $1.3 billion combination with Churchill Capital Corp. IX (NASDAQ:CCIX) last month.

David explains how both Plus’ strategy and the autonomous driving landscape have changed since the company last considered a SPAC listing and why the company is betting on a software-first approach - partnering with truck manufacturers rather than building hardware in-house. He also breaks down how this model could position Plus for better scalability and higher margins in the years ahead.

Despite its moniker as the “the everything store” you can’t buy everything on Amazon, and firearms are one of those things. But, GrabAGun has spent years building a platform for regulated online firearms purchases, and soon, consumers will be able to buy GrabAGun stock as well.

This week, we speak with Marc Nemati, CEO of GrabAGun and Omeed Malik, CEO and Chairman of Colombier Acquisition Corp. II (NYSE:CLBR). The two announced a $197 million dollar combination in January of this year that is now nearing close.

Marc explains why GrabAGun’s platform and the inroads it has already made with Gen Z consumers would be difficult to replicate. And, why a public listing presents a unique opportunity in the traditionally fragmented and illiquid space.

Omeed lays out how the market has already reacted to the transaction as well as others that share a similar investment thesis, and how Colombier II has built its strategy around the enthusiasm the parties are already seeing.

Note: Subsequent to this interview, the Registration Statement on Form S-4 filed by GrabAGun Digital Holdings Inc. was declared effective. Trading using the PEW ticker is anticipated to occur as soon as practicable following the July 15, 2025 shareholders' meeting.

At the time, Harry had already completed seven SPACs and was closing in on his eighth. As markets cooled and the SPAC boom waned, Harry offered a prescient take on where the market was headed—and what a “post-boom” SPAC cycle might look like.

Two years later, his words still resonate. Tune in for a thoughtful look back at a key inflection point in SPAC history.

2025 is shaping up to be a wild year for global trade, and few companies have a vantage point on the impacts of every-changing tariff policy quite like digital cargo-booking platform Freightos (NASDAQ:CRGO).

This week, we catch up with Freightos CEO Zvi Schreiber. He shares how the shifting trade flows are showing up in Freightos’ numbers, and how companies are adjusting to meet the new challenges.

Zvi also discusses why the shipping industry has long resisted digitization and how Freightos has made headway since closing its combination with Gesher I in January 2023.

Rick Hendrix is the Founder of Live Oak Merchant Partners, and Chairman and CEO of Live Oak Acquisition Corp. V (NASDAQ:LOKV). In addition, he is an operating executive at Crestview Partners, a New York-based middle market focused private equity firm.

Adam Fishman is a Managing Partner at Live Oak Merchant and President and CFO of Live Oak V. Adam joined Live Oak right before Live Oak II was launched and has been an executive on each of the SPACs since.

Together they discuss how the SPAC climate has changed and how they choose to position their team relative to the broader market. Where are the big opportunities now, and what are some of the transaction terms and structures they would and would not consider?

Give it a listen

It just celebrated its first quarter of EBITDA profitability, but at the time, it was still working to close its combination with dMY Technology Group IV. Niccolo de Masi, who at the time steered dMY IV, also joined to explain the investment case for Planet and the private space industry more broadly.

Many of those space ventures that combined with SPACs are now booming despite equity market headwinds. But, what did the pathway to the stars look like four years ago, and what challenges remain?

At the time, Aurora was working to close its $10 billion business combination with Reinvent Technology Y. Chris laid out how the company planned to approach the commercialization of its self-driving heavy truck business model and what challenges still laid ahead for it and other developers of autonomous technology.

Now, Aurora is preparing to debut its driverless trucks along the Dallas-to-Houston freight route later this month, with plans to extend on to El Paso and Phoenix, Arizona before year’s end.

Now that this debut is finally at hand, take a listen to what the road ahead for Aurora looked like four years ago and why it was kicking off that journey with a SPAC.

Nick weighs in with his thoughts on the major trends shaping private market valuations today and how the market has evolved since the pandemic years.

Plus, how difficult is it to gain reliable data on private funding rounds and what lessons can be learned for SPACs making their own valuation decisions while on the hunt for a deal?

PM Insights is a secondary market pricing and analytics provider focusing on private market company stocks.

This week, we speak with Alan Baratz, CEO of D-Wave (NYSE:QBTS), which went public in a business combination with DPCM Capital in 2022. Alan explains how D-Wave’s quantum computers are already doing commercial work and generating revenue by solving complex business optimization problems for clients.

He also gives a primer on what investors should look for in the quantum industry news as they try to parse real progress from incremental research.

How did D-Wave itself emerge from a post-listing capital crunch to announce record bookings in 2024 and start out 2025 with over $300 million in cash on hand?

Give it a listen.

Our panel brings together perspectives from across the SPAC ecosystem—banking, investing, and advisory—to provide a well-rounded view of the latest market shifts.

Joining us are:

• Ed Kovary, Head of SPAC Capital Markets at BTIG
• Nick Skibo, Managing Partner at Gritstone Asset Management
• Dimitre Genov, Managing Director at Brookline Capital Markets, advising SPAC sponsors on IPOs and de-SPAC transactions

Together, they break down early indicators of SPAC activity for the year ahead, discuss trends such as warrants versus rights, overfunding, and transaction deadlines, and analyze how the new administration’s regulatory changes, particularly at the SEC, could impact dealmakers.

Tune in for an in-depth discussion on the 2025 SPAC market.

Dot Ai announced a $130 million combination with ShoulderUp Technology Acquisition Corp. (OTC:SUAC) in March 2024.

Ed explains how Dot Ai has given clients enhanced vision for their warehouse management through the use of both devices and AI software tools that keep products moving on time even when the human workers miss something.

He also tells us why he expects Dot Ai’s pairing of a SPAC listing and a freshly announced strategic partnership will lead it to its growth goals. How will the upcoming international trade fights impact everyday shippers? And, what’s up next around the corner in the technology in this space?

This week, we speak with Ronald Li, CEO of Medera, and Kenneth Wong, CEO and Chairman of Keen Vision Acquisition Corp. The two announced a $622 million dollar combination in September.

Ron explains how Medera has leveraged years of innovations including the capacity to grow miniature human hearts for testing as it advances gene therapies for heart failure that do not rely on animal testing and could prove significantly cheaper than alternatives.

Kenneth tells us why he believes those details align well with the changing regulatory and investment climate around drug development. And, why he views Medera as being a more mature investment play in the biotech space than many of the others coming to market today.

Betsy and Max discuss the past, present and future of the SPAC product and how they have managed to craft such a successful string of deals, especially in difficult markets.

Plus, Betsy gives us her view on some of the challenges surrounding SPACs over the past few years and why she thinks SPACs will continue to have a place in the IPO market overall.

Give it a listen.

This week, we speak with Will Gray, co-Founder and CEO of New Era Helium and John Lipman, co-CEO and co-Chairman of Roth CH Acquisition V Co. (NASDAQ:ROCL). The two announced a business combination in January that would see New Era become a unique stock representing a resource that is not trading like most other commodities.

Will describes how New Era has positioned itself in a helium market that can be tricky to play at a time when supply is tight. John lays out what could be next for New Era once the combination is complete and what he sees taking shape in the new SPAC cycle now that he's on his fifth SPAC deal himself.

Mark Deters and Ryan Bixenman, partners at WithumSmith+Brown, join us to help break it all down.

For example, what does it mean for SPACs searching overseas if Trump enacts a wide range of tariffs? What about the excise tax on SPAC redemptions if Kamala Harris wins and raises it to 4%? Will this result in increased SPAC liquidations before the end of 2024?

Mark and Ryan discuss these considerations and more as we approach the end of the tax year and what further changes might be in store.

Give it a listen.

She is joined by Ed Kovary, Head of SPAC Capital Markets at BTIG, Nick Skibo, Managing Partner at Gritstone Asset Management, and Dimitre Genov, a Managing Director at Brookline Capital Markets advising SPAC sponsors on IPOs and de-SPAC transactions.

Kristi checks in on how recent trends like the resurgence of anchor investors is perceived by the various participants in a SPAC transaction through to close, and what the SPAC landscape looks like now with the previous cycle winding to a close and a new one beginning.

This week, we speak with Brian Sun, Chief Operating Officer of Excelfin and David Kaysen, Senior Advisor and Chief Marketing Officer for Baird Medical.

The two announced a $279 million dollar combination in June 2023. Brian explains why Excelfin diverted its initial focus from fintech to medical devices.

David lays out how Baird has gotten this far through commercialization in China and why it expects successful adoption in the US. With the prospect of tariffs potentially increasing between those two jurisdictions, they also explain how Baird and Excelfin have a plan for that as well.

This week, we speak with Mihir Dange, CEO of XCF Global and Wray Thorn, co-CEO of Focus Impact BH3 Acquisition Company (NASDAQ:BHAC). The two signed a $1.8 billion combination in March and aim to create one of the only pureplay SAF producers on the public markets.

XCF is in the process of converting existing diesel facilities to produce SAF and Mihir explains why this approach is key to bringing production online faster.

Wray also lays out the financial case for backing SAF production and how a SPAC deal plays into XCF’s future funding mix.

GS I combined with Vertiv (NYSE:VRT) in what has become the most successful SPAC deal of all time.

We discuss what were the critical ingredients to the transaction's success and what is needed to achieve solid returns in SPAC deals under the current conditions.

However, it wasn’t all roses from the start, with the deal closing right as the pandemic shocks were beginning to hit the system. But, the two explain how their team weathered the storm with both preparation and a plan for the company’s post-transaction future.

Give it a listen.

This week I speak with Jereme Kent, founder and CEO of One Energy. One Energy provides dedicated clean power generation to industrial clients allowing them to lock in cheaper energy, sell power back to the grid or turn their operations into net zero facilities.

Jereme explains One Energy’s 20-year vision for how this work will stack and why the time was right for it to ink a $384 million combination with TortoiseEcofin Acquisition Corp. III (NYSE:TRTL). He also gets into how this deal is structured to provide some unique benefits to public shareholders.

Focus Impact Acquisition Corp. (NASDAQ:FIAC) aims to change that with its $213 million combination with DevvStream, a Canadian company focused on generating carbon credits with proprietary technology-based approaches.

This week, we speak with Sunny Trinh, co-founder and CEO of DevvStream and Carl Stanton, CEO of Focus Impact.

Sunny explains how DevvStream has worked to build confidence in carbon assets by consulting its wide pipeline of clients on getting better and more measurable impacts out of projects.

And Carl tells us why he believes DevvStream’s operational efficiencies and capital-light model make it a unique play on the carbon market and a more stable fit for the current market conditions.

This week, we speak with Francisco Gonzalez, CFO of private hangar operator Sky Harbour (NYSE:SKYH).

Francisco explains why he believes Sky Harbour has traded consistently up from its valuation in its $777 million combination with Yellowstone two years ago.

Why are hangars such a high-demand and profitable part of the aviation space? And how has Sky Harbour gained investor confidence in its plans yet to come while much of the industry faces skepticism?

This week, we speak with Roshan Pujari, Co-founder and CEO of Stardust Power and Chandra Patel, CEO and Chairman of Global Partner Acquisition Corp. II (NASDAQ:GPAC).

The two announced a $490 million business combination in November of 2023.

Roshan explains how its plans to build its lithium refinery in Oklahoma are progressing and why he believes the company’s methods should command a premium for its resources.

Chandra meanwhile tells us how his team is working through a dealmaking playbook involving both SPAC IPOs and those that they can take over post-IPO like Global Partner II.

This week, we speak with Abpro Chairman and CEO Ian Chan and Shahraab Ahmad, Chairman and CEO of Atlantic Coastal Acquisition Corp II (Nasdaq: ACAB). The two announced a $500 million combination in January.

Shahraab explains how Abpro came onto Atlantic Coastal II’s radar after the SPAC had originally been fishing in the mobility space, and why the particularities of its capital needs could be a fit for the current market conditions.

Ian also walks through Abpro’s clinical path moving forward and how it can use a mix of its internal discovery engines and M&A to expand its portfolio.

Ian also walks through Abpro’s clinical path moving forward and how it can use a mix of its internal discovery engines and M&A to expand its portfolio.

This week we’ll speak with Jaymes about the changing set of options SPACs have at their disposal to raise funding and find a deal the market can appreciate in the current climate.

And, how Solidion has the potential to bring greener, US-based materials to the EV battery space after its SPAC-led spinoff from the Global Graphene Group.

This week, we catch up with with Abacus Life Chairman and CEO Jay Jackson. He tells us why he thinks his company’s stock has managed to perform well in the six months since closing its SPAC combination and why he has taken the unorthodox decision to buy back shares rather than deal immediately with Abacus Life’s warrant overhang.

We also discuss the future of the company’s business of acquiring life insurance policies and how it is now engaging directly with policy holders and the insurance issuers as clients.

With many years at work investing in such policies, what has the data told Abacus Life about longevity and long-term health itself?

This originally aired as a live webinar, which may be viewed on SPACInsider's website HERE.

Joining Kristi is Derek Dostal, a partner at Davis Polk & Wardwell LLP, Doug Ellenoff, partner at Ellenoff Grossman & Schole LLP, and Christian Nagler, partner at Kirkland & Ellis LLP.

The panel discusses which new measures are likely and unlikely to provoke changes in approach by SPACs moving forward. What questions still remain, and how will this affect the state of the SPAC market in 2024?

This week, we speak with Michael Zacharski, CEO of BEN and Chris Gaertner, Co-CEO and CFO of DHC Acquisition Corp. (Nasdaq: DHCA). The two announced a $358 million combination in September.

Michael explains how BEN has built an AI customer engagement tool focused on the auto sales and health care spaces and why those sectors were particularly ripe for disruption.   

Chris describes DHC’s process in pulling together a PIPE with strategic investment in a difficult market and how the SPAC is further supporting the transaction through to close.

Both also touch on why they welcome increased scrutiny towards how companies going public describe their AI technologies, or lack thereof.

This week, we speak with Christopher Savoie, CEO and Co-founder of Zapata AI and Bill Sandbrook, Co-CEO and Chairman of Andretti Acquisition Corp. (NYSE: WNNR). The two announced a $283 million deal in September.

Bill explains how the Andretti team’s experience with Zapata AI on the competitive racetrack grew into the decision to take them public, while Christopher walks us through how Zapata’s number-based generative AI can create designs or scenarios for applications ranging from racing efficiency to financial portfolio optimization.

Chat GPT may be able to convincingly generate text and images, but could Zapata AI generate bridge blueprints, molecular formulas and new financial instruments?

She asks Omeed what brought him into the SPAC market and how his first SPAC, Colombier I, navigated the rapidly changing market as it closed in on its combination with PublicSquare (NYSE:PSQH).

He discusses the opportunity and risks at play in targeting companies in the "patriot economy" in a politically-charged environment. And, as a part of the new crop of serial SPAC sponsors that recently priced a second IPO with Colombier II (NYSE: CLBR.U), how does he see the product developing into 2024 and what changes could benefit sponsors, investors and targets alike?

AI may be the major buzzword of 2023, but iLearningEngines has been working on AI tools since 2010. Now, it hopes to use a SPAC transaction as its next step.

Harish explains how the company has developed a profitable AI platform with very little outside funding through the years, and how SPAC cash and public share capital can accelerate its growth through an M&A campaign.

Additionally, Matt tells us how Arrowroot’s long relationship with iLearningEngines gives it confidence in how the company will be valued in the public markets.

Royalty Management has crafted a portfolio of royalty streams from mining operations as well as some industries like water treatment where such financings are novel.

Kirk discusses how the engagement with investors has gone as the teams advanced their transaction through the de-SPAC process and what new opportunities Royalty Management is seeking now that the deal is closed.

The pair announced a $578 million combination in August. Esteban explains why the timing is particularly attractive to do a SPAC deal to accelerate his company’s portfolio expansion in the current market climate and what opportunities and challenges lie in the industrial real estate space in the Latin American region.

Tom also explains how the deal came together for his team, which used a unique approach of taking over an existing SPAC to get the transaction done. 

Wind and solar have each seen big booms in adoption in the 21st century due to a mix of technology and incentives aligning at the same time. Could it once again be nuclear power’s turn?

Clay tells us how innovative smaller-reactor designs can carve out a new place in the energy mix for utilities and industrial clients alike. And, how X-energy’s focus on proprietary nuclear fuel has brought a new business model to the space.

This week, we speak with Tim Moran, President and CEO of Avertix, and Ross Haghighat, CEO and CFO of BioPlus Acquisition Corp. (Nasdaq: BIOS). The two announced a $195 million dollar combination in May of this year.

Tim tells us how Avertix’s Guardian heart monitoring implant has performed in its initial commercial rollout, having already been approved by the FDA and for insurance reimbursements. 

Ross meanwhile explains why being at that stage of the process was important for BioPlus’ criteria given the current market conditions and what further value streams could be unlocked by the Guardian device long term.

This week, we speak Brian Gordon, President and COO of Verde Bioresins and Jin-Goon Kim, Chairman and CEO of TLGY Acquisition Corporation (Nasdaq: TLGY). The two announced a $433 million combination in June.

Brian explains why he believes Verde is closer to scaling up a viable plastic replacement than many of its competitors, while Jin-Goon explains how TLGY designed this transaction to be accountable to private equity-style benchmarks and also be attractive to SPAC investors through the de-SPAC process.

This week we speak with Craig Wood, CEO of Vast, and Guillermo Sierra, VP of Strategic Initiatives at Nabors Energy Transition Corp. (NYSE: NETC). The pair announced a $250 million business combination in February.

Craig explains how Vast is fine-tuning its concentrated solar power platform to work in conjunction with traditional solar, batteries and hydrogen to put forward a new kind of renewable project.

Guillermo also tells us how Nabors Energy is leveraging its existing network to develop strategic benefits to Vast through this SPAC deal and beyond.

This week, we speak Rohan Malhotra, CEO and co-founder of Roadzen and Steven Carlson from the sponsor of Vahanna Tech Edge Acquisition I Corp. (Nasdaq: VHNA) The two announced a $965 million combination in February. 

Rohan discusses how Roadzen’s disruptive technology cultivated in India is already making major improvements to its margins as it enters more lucrative Western markets. And, how this combination can fuel both its organic and inorganic expansion

While Steven discusses why SPACs need to have a different fundraising and target strategy in the current market conditions.

Brandon shares what advice he has for other companies considering a SPAC merger in the current market and discusses how Bitcoin Depot is hitting the ground running with its acquisition pipeline now that it has public capital at its disposal. 

Plus, we hear how Bitcoin Depot's position as the sole public company in the Bitcoin ATM space will give it strategic advantages moving forward.

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This week, we speak with John Schaible, Chairman and CEO of Quantum Fintech Acquisition Corporation (NYSE: QFTA), and Craig Ridenhour, Chief Business Development Officer at AtlasClear.

John and Craig explain how they have crafted a three-way merger to give AtlasClear a unique set of competencies combining trading, clearing, settling and banking with financial products that are generally unavailable to its middle market clients.

They discuss why this market is underserved and what barriers to entry they would be able to surmount by putting this together as a SPAC combination.

This week, we speak with Hervé Tessler, CEO of Noventiq (LSE:NVNQ) and Jerry Letter, CFO and COO of Corner Growth Acquisition Corp.

They explain why they think Noventiq will be better valued on the Nasdaq following the close of their $800 million combination announced in May, and how Noventiq’s own operations as a digital transformation facilitator are ramping up in the developing world.

This week, we speak with Carbon Revolution CEO Jake Dingle. Carbon Revolution is working to scale up its carbon fiber wheel production to provide the wheels as a mass-produced staple in the industry.

It announced a $270 million combination with Twin Ridge Capital Acquisition Corp. (NYSE:TRCA) in November to accelerate these plans.

He describes the major business advantages in bumping up from the ASX to a US exchange and how the transaction has opened up new financing doors even while it is pending close.

Australia and Frankfurt-listed miner European Lithium (ASX:EUR) announced an $838 million deal in October to spin off its Wolfsberg lithium mine in Austria in a combination with Sizzle Acquisition Corp. The new Nasdaq-listed entity called Critical Metals would represent a pure Europe-based lithium mining play that already has offtake and processing agreements in hand.

This week, we speak with Critical Metals Chairman Tony Sage, who tells us how he expects the bump up to the Nasdaq to generate value for the company and what key milestones Critical Metals has to watch for as it gets its lithium out of the mine and into batteries.

ZeroNox brings another new approach to the EV story with its focus on retrofitting fleets of off-highway vehicles for sustainability.

This week, we speak with ZeroNox President and Co-Founder Robert Cruess and Yana Kakar, CEO of the Growth for Good Acquisition Corporation (Nasdaq: GFGD).

The pair announced a $306 million dollar combination in March. Yana explains why the off-highway segment of the EV market was attractive for the Growth for Good team.

And Robert notes how ZeroNox’s asset-light approach makes it a unique de-SPAC candidate in the EV space with more revenue generated to date than outside capital raised.

This week we speak with with Selva Selvaratnam, CEO of OpSec Security. It provides a variety of these services and it announced a $426 million combination with Investcorp Europe Acquisition Corp. I (NASDAQ:IVCB) in April.

Selva tells us how OpSec approaches cross-selling among its clients and how M&A plays into its efforts to expand EBITDA margins. And, how its SPAC deal could accelerate that path.

We dig into their perspective, having priced SPACs in three very different market environments. Joe and Steve explain why and how they maintained their value priorities while IPOing their third SPAC in the difficult market of early 2023.

The pair also discuss the relative of advantages of having committed capital from forward purchase agreements at IPO versus the flexibility of diverse potential PIPE investors down the road.

What will the landscape look like once the SPAC cycle fully resets, and what does it take for a sponsor to bank a successful deal while the current macro conditions exist?

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Aeries Technology does just that, working frequently in conjunction with private equity firms to find efficiencies in their target companies amid a turnaround.

This week, we speak with Sudhir Panikassery, founder and CEO of Aeries. It announced a $391 million combination with Worldwide Webb Acquisition Corp in March.

Sudhir explains why sourcing clients through private equity firm partners has helped it maintain sticky retention while expanding its margins as it embeds its services deeper in company operations.

Daniel Webb, CEO and CFO of Worldwide Webb Acquisition Corp. (Nasdaq: WWAC), also joins to discuss why Aeries is a fit for the current climate and how they have structured the transaction to provide additional potential upside.

We spoke with Derek Dostal, from the law firm of Davis Polk, and Christian Nagler, from Kirkland & Ellis, to help explain these trends in greater detail and if the pending SEC proposal could affect some of these considerations going forward.

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This week, we speak with Greg Moran, Co-Founder and CEO of Zoomcar. Zoomcar runs a ride-sharing marketplace in India, where traditional short-term rental options are rare and it announced a $456 million combination with Innovative International Acquisition Corporation (Nasdaq: IOAC) in October.

Greg explains how Zoomcar has quickly built a strong position in the market without heavy marketing spend, while still maintaining a 40% take-rate on rides rented through its platform.

He also lays out where Zoomcar is expanding to next, and how the proceeds of its SPAC deal will get it there.

Bridger operates a fleet of firefighting airplanes and support vehicles in the Western United States and it closed a combination with Jack Creek Investment Corporation on January 25th.

Tim explains how this age-old business is built on steady government contracts, but its needs and sophistication are growing and why its SPAC merger gives Bridger some unique opportunities for consolidation in a space that has been structurally resistant to such changes.

This week, we speak with Swin Chatsuwan, Founder and CEO of Zapp. Zapp has developed a line of electric motorcycles manufactured in Thailand that have some unique features, like being able to plug in anywhere.

To help fuel Zapp’s drive into European and Asian markets, it announced a $573 million dollar combination with CIIG Capital Partners II (Nasdaq:CIIG) in November.

CIIG II Co-CEO Gavin Cuneo also joins to discuss some of the key points of differentiation for Zapp in the market and why this differs from some of the first wave of EV SPAC deals we saw earlier in the cycle.

This week, we speak with Complete Solaria CEO Will Anderson.

Complete Solaria is the merger of two peer residential solar companies, Complete Solar and Solaria, that together announced a business combination with Freedom Acquisition I Corp. (NASDAQ:FACT) in October.

Will describes how the combined company will be poised to more efficiently cover existing white space in the US market, while Freedom I CEO Adam Gishen joins to discuss how the complex deal came together and why it stood out as the SPAC’s best opportunity in the current market.

This week we speak with Eli Assoolin, Co-founder CEO and Chairman of Newsight Imaging.

Newsight announced a $380 million dollar combination with Vision Sensing Acquisition Corp. in August of last year.

It provides the critical semiconductor components for lidar sets as well as industrial quality control and medical imaging equipment.

Eli discusses how the company’s diverse use cases and position as a chip supplier make it a unique play in the market as compared to its hardware-making customers.

And, why Israeli tech companies like his are increasingly turning to SPACs as a major source of funding.

Wejo announced a business combination with TKB Critical Technologies 1 (NASDAQ:USCT) in January, about 15 months after it closed an earlier combination with Virtuoso Acquisition Corp.

Richard walks us through how Wejo weathered challenging market conditions 2022 and provides an update on its new business plan.

TKB 1 Co-CEO and CFO Angela Blatteis also joins and gives the behind-the-scenes look at how her team reached into the 2010 playbook to make this deal’s structure possible.

Could this deal start a trend among the hundreds of SPACs still searching? And what conditions need to be present for this to work?

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With its SPAC deal, Tempo Automation (NASDAQ:TMPO) is hoping to change that.

This week, we speak with Tempo Automation President and CEO Joy Weiss and Chairman Behrooz Abdi.

Tempo combined with ACE Convergence Acquisition Corporation in November 2022, and Joy explains the advantages of the SPAC route for Tempo’s consolidation strategy.

Behrooz, who led ACE Convergence's team before the merger, walks us through the technology landscape from a SPAC’s perspective and what it was like getting a deal to close under challenging market conditions.

SPAC cash is now also an accelerant in this new process as the company announced a $1.7 billion combination with AMCI II last March. This week, we caught up with LanzaTech CEO Dr. Jennifer Holmgren.

She explained how LanzaTech has worked to strengthen its SPAC transaction since announcement and why it was a strategic decision from the start.

She also discusses how LanzaTech has structured its own business model to provide multiple channels of recurring revenues as well as what new carbon negative products you’ll be seeing on shelves soon.

Bitcoin Depot hopes to be that stock and announced a $755 million dollar combination with GSR II Meteora Acquisition Corp. in August.

This week, we speak with Brandon Mintz, CEO of Bitcoin Depot. Brandon tells us how Bitcoin Depot has managed to build a crypto business without holding any crypto by serving customers through thousands of Bitcoin-trading cash ATM.

Its recent financial performance has seen it continue to grow through the crypto highs and lows and generate profits in a manner uncorrelated with Bitcoin prices.

GSR II Meteora Co-CEO Gus Garcia also joins to discuss why that fact was so important to his team’s calculus in striking a deal with Bitcoin Depot.

This week, we speak with Plastiq Founder and CEO Eliot Buchanan.

Plastiq specializes in providing payments services to SMBs and it signed a $480 million combination with Colonnade Acquisition Corp II (NYSE: CLAA) in August.

Eliot tells us how Plastiq has made inroads in this slice of the market and managed to dodge the impacts of the pandemic on its customer base.

We also discuss how some of the macro headwinds blowing towards SPACs actually provide a competitive advantage for Plastiq’s operations.

Abacus Life has made a business of buying consumer life insurance policies for upfront payments and holding them until maturity.

To help bring this particular kind of transaction more into the mainstream, Abacus Life announced a $618 million combination with East Resources Acquisition Company on August 30.

He explains how these policies can be bundled together to create uncorrelated assets that are attractive to institutions for hedging, and why he sees a SPAC deal as the right way to fuel the growth of Abacus Life’s model.

However, Jim Zukin, of Zukin Certification Services ("ZCS"), and Christian Nagler, a partner at Kirkland & Ellis, join us to break it all down and give us some context as to how projections have been used in the past, as well as how they're currently being addressed given the current regulatory landscape.

Jim also discusses the Reasonable Basis Review, or "RBR", which was created to provide a review of an operating company's projections as an additional layer of diligence by a third party in IPOs and M&A transactions. In fact, the RBR is already in use in a number of De-SPAC transactions.

Join us to hear more about what SPACs can expect from the use of projections going forward.

This week, we speak with Getaround founder and CEO Sam Zaid about how the pandemic accelerated shifts in the way we drive and how car sharing fits into future.

Interprivate II Chairman and CEO Ahmed Fattouh also joins to discuss why Getaround fits the profile of companies the market is ready for now. As a serial SPAC sponsor, Ahmed also shares his take for how the SPAC landscape is shaping up.

This week, we catch up with Tim to talk about how his company has kept busy in the two months since closing its combination with Duddell Street.

Tim reflects on how FiscalNote was able to prioritize key conditions in getting the right SPAC deal and how it is already taking advantage of being a publicly company.

FiscalNote collects data on the regulatory processes in the US and abroad from federal institutions all the way down to local school boards. Tim also talks about the growing demand for data in these realms and how the pandemic increased the number of touch points governments at every level have on business operations.

Selina is hoping to be that company. It signed a $996 million combination agreement with BOA Acquisition Corp. in December 2021 and it is now approaching its close.

This week we speak with Selina CEO and Co-Founder Rafael Museri and BOA President and CFO Ben Friedman.

They talk about why Selina has such a unique pitch to both customers and investors in this moment where the market is jumping from the pandemic to a risk-off climate. And, how its asset-light approach has put profitability squarely in its sights without sacrificing growth.

Gorilla closed a $720 million combination with Global SPAC Partners in July and has since been a bright spot among recent de-SPACs, consistently trading in the $11 to $12 range.

Jay and Raj explain how the 20-year-old video intelligence company is meeting the growing demand for new AI solutions in the edge computing space, and how its mix of public readiness and a willingness to make changes to the initial deal to meet the changing market have helped Gorilla to be successful post-close.

Moolec is pioneering a new way to achieve plant-based foods by taking dairy and meat proteins and programming the soy and pea-plant seeds to grow it themselves.

Paladini discusses how his background in the conventional foods industry gives Moolec the upper hand in proving its technology, and how its journey as a de-SPAC of a de-SPAC gives it unique opportunities to accelerate towards commercialization.

ProSomnus has developed a new device to treat obstructive sleep apnea that disrupts the need for its millions of sufferers to be connected to ventilators at night. Len explains how the COVID-19 pandemic increased the need for sleep apnea treatments, and how this deal will help power its continued commercialization.

Lakeshore I CEO and Chairman Bill Chen joins to tell us why it was important that ProSomnus is already generating revenue and how SPACs can still compete for quality targets in the current market.

CEO Chris Laurence and President Kevin Ortner explain how they built a unique end-to-end platform for real estate investors looking to buy properties to rent out far afield from their local market, be they institutions or moms and pops.

They also give us the lowdown on what the single-family rental market looks like from inside the machine and how capital can best be put to work in the current climate.

PropTech II’s Co-CEO and CFO M. Joseph Beck also joins to walk us through how the SPACs’ prolific team has shifted criteria to match the times.

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If you’ve ordered a fast-food meal using a smart touch screen or talking to a voice AI recently, there’s a good chance Presto made that order happen. The company has developed both hardware and software that serve to automate quick-service ordering and it counts some of America’s biggest fast-food chains among its clients.

Raj talks about how Presto plans to expand within its clients' chains and what the future of automated restaurants looks like. He also speaks to how both Presto and Ventoux have ridden out the difficult market conditions and why Presto could serve as a hedge stock against inflation once the deal closes.

Stu talks about how getting to cleaner home goods isn’t just about ingredients, but rethinking everything down to whether they are a liquid or a solid. He gets into how much of this innovation comes from the feedback loop Grove has with its DTC customers. 

He also reflects on Grove’s decision to go for a SPAC deal now that the company is on the other end of it, and what advice he has for fellow CEOs fielding SPAC calls today.

Nogin provides commerce-as-a-service for ecommerce clients – putting their marketing, payments and shipping process all under a single umbrella.

Jan talks about how the current market conditions have driven a greater demand for efficiencies among ecommerce players, while Jon describes how the Software SPAC team has shifted strategy with the changing market tides in its third combination since 2020.

Westrock entered into a $1.1 billion combination agreement with Riverview Acquisition Corp. (Nasdaq: RVAC) in April of 2022, and has grown into the #1 wholesale provider of coffee and tea to US restaurants.  Westrock is now looking to use its SPAC deal to make a big move into cold brew, made in the United States.

Scott explains how the company has worked to insulate itself from supply chain and commodity disruptions and why a SPAC deal was preferable to an IPO or more trips to the private equity watering hole.

Dragonfly has been attacking a less-talked-about corner of the energy storage market by providing lithium-ion solutions for boats, RVs and off-grid homes. Although this has been profitable work for several years running, Dragonfly’s operations in this niche have always been designed to set the stage for a much bigger technological and organizational transition into solid state systems. 

We talk about the areas of the market where outdated lead acid batteries still dominate, while Jonas gives us the SPAC-side view on what teams should be looking for in the current market conditions.