The SPAC Podcast: Special Purpose Acquisition Company

Ranjeet Sundher explains why uniform mineralization at the Peak Project is a major technical advantage. Processing facilities are engineered for specific grades and product types. When mineral grades vary widely across a site, processing becomes more complex, more expensive, and higher risk. Peak’s homogenous mineralization means: • More predictable processing • Lower operating costs • Reduced tec...

Ranjeet Sundher , CEO of Tactical Resources , explains what makes the Peak Project fundamentally different from early-stage rare earth developments in the United States. Unlike projects that require a decade of exploration and billions in capital before proving viability, Peak already has materials on site, existing infrastructure, and decades of groundwork completed. The focus now shifts from exp...

Chris Sorrells shares the through-line connecting NuScale and Eagle Energy Metals. From his early exposure to nuclear markets in 1998 to helping build nuclear simulation platforms and supporting NuScale through licensing, Chris explains why first-mover advantage in SMRs mattered and why the next opportunity lies deeper in the supply chain. With SMRs advancing toward commercialization, fuel and ura...

Why is feedstock the true bottleneck in the U.S. rare earth supply chain? In this clip, Kanishka Roy breaks down the “mine to magnet” ecosystem and explains why magnet manufacturing is expanding faster than rare earth production. The real constraint isn’t building magnets,  it’s developing and scaling rare earth feedstock. Tactical Resources aims to address that bottleneck with an operational mine...

What made Tactical Resources different from other critical mineral opportunities? In this clip, Kanishka Roy explains why near-term execution, existing infrastructure, and 4 million tons of rare-earth-enriched tailings in West Texas made Tactical Resources uniquely positioned. With decades of operational history and a clear playbook similar to MP Materials, this opportunity offered scale, speed to...

How do analysts determine if a SPAC deal price is fair? Ryan McGuire breaks down the valuation process, from income and market approaches to DCF models, explaining how fairness opinions assess whether shareholders receive appropriate value. Guest: Ryan McGuire: https://www.linkedin.com/in/ryanquinnmaguire/ Let’s Connect on LinkedIn: 👉 Michael J. Blankenship - https://www.linkedin.com/in/mikeblank...

Chris Cottone breaks down the key differences between listing a SPAC on NASDAQ versus the NYSE.  He explains why most SPAC IPOs historically land on NASDAQ, how exchange preferences can vary depending on sponsor relationships, and why NASDAQ has become more stringent during the DESPAC phase. Disclaimer: Michael J. Blankenship is a licensed attorney and partner at Winston Taylor. Joshua Wilson is a...

Kanishka Roy explains why Plum believes now is the right time to back a rare earths company like Tactical Resources.  He breaks down the massive global demand across tech-enabled industries, the geopolitical supply constraints tied to China’s dominance, and why scale and near-term operational capability are critical differentiators in this sector. Disclaimer: Michael J. Blankenship is a licensed a...

Kanishka Roy , Chairman and CEO of Plum Acquisition Corp . IV, joins The SPAC Podcast to share his background as an operator, investment banker, and investor. He walks through the evolution of the Plum platform, now on its fourth SPAC, and explains the team’s focus on differentiated companies with strong execution moats and proven public-market playbooks. Disclaimer: Michael J. Blankenship is a li...

Chris Cottone breaks down realistic IPO timelines based on current market conditions.  He explains how IPOs can move as fast as three months in low-comment environments, why four months is now the typical expectation, and what factors can extend the process to six or seven months.  Disclaimer: Michael J. Blankenship is a licensed attorney and partner at Winston Taylor. Joshua Wilson is a licensed...

Ryan McGuire explains why fairness opinions are essential in DESPAC transactions. He outlines how they protect shareholders, align interests between sponsors and investors, and prevent deal structures that could harm equity holders. Hosted by Michael Blankenship, this conversation dives into how fairness opinions shape accountability and trust in SPAC deals. Guest: Ryan McGuire: https://www.linked...

SPACs have gone through several evolutionary cycles, and today’s transactions look very different from those of just a few years ago. In this episode of The SPAC Podcast , Seth Farbman, Chairman of Vstock Transfer, joins Michael Blankenship and Joshua Wilson to break down the changes shaping SPAC 2.0 (or even 3.0). From deal size and sponsor dynamics to the expanded cast of participants—including...

Mike Blankenship kicks off a new SPAC Updates series, breaking down how the SPAC market has evolved heading into 2026. He covers SPAC 2.0 structures, sponsor economics, IPO and DESPAC trends, capital costs, PIPE dynamics, redemptions, digital assets, AI, energy, and what sponsors and targets must do to succeed in today’s environment. This episode sets the foundation for ongoing market updates desi...

Chris Cottone explains how SPAC sponsors should think about selecting legal counsel and underwriters.  He outlines why fees should never be the primary decision factor, why SPACs require highly specialized legal experience, and how the wrong choices can lead to delays, added costs, or failed transactions. Disclaimer: Michael J. Blankenship is a licensed attorney and partner at Winston Taylor. Josh...

Andrejka Bernatova explains how the SPAC model has evolved since the boom years and why many misconceptions still persist.  She shares why SPACs should be viewed as a long-standing capital markets tool, not a short-term trend, and why the structure only works for companies that are truly ready to be public and operating in high-growth, high-interest sectors. Disclaimer: Michael J. Blankenship is a...

Chris Cottone explains how SPAC sponsors should think about board composition. From NASDAQ independence requirements to the importance of financial, legal, and M&A experience, he breaks down why a lean, well-balanced board is critical for governance and deal execution. Disclaimer: Michael J. Blankenship is a licensed attorney and partner at Winston Taylor. Joshua Wilson is a licensed Florida r...

Chris Sorrells shares his view on where the SPAC market is headed next.  After years of excess, he explains why rationalization, more experienced sponsors, cleaner vehicles, and better capital alignment are critical for long-term health. He also outlines why greater discipline and sponsor accountability could strengthen the structure moving forward. Disclaimer: Michael J. Blankenship is a licensed...

Chris Cottone explains how to properly form a SPAC entity and why incorporation choice matters. He breaks down the pros and cons of Delaware, Nevada, and Cayman structures, highlighting tax considerations, litigation risk, and cost differences sponsors should understand before launching a SPAC. Disclaimer: Michael J. Blankenship is a licensed attorney and partner at Winston Taylor. Joshua Wilson i...

As continuation vehicles and secondaries gain momentum in private equity, Andrejka Bernatova explains what this shift means for investors, sponsors, and LPs. She shares why IPOs and SPACs should still be primary exit paths, how public markets remain open, and why SPACs offer a uniquely discreet way for sponsors to test public-market readiness. Disclaimer: Michael J. Blankenship is a licensed attor...

Andrejka Bernatova explains how being both an operator and a sponsor shapes a fundamentally different approach to SPACs.  She shares why the real work starts after the DESPAC, how balance sheet structure and public-company readiness matter, and what separates long-term public companies from short-lived transactions. Disclaimer: Michael J. Blankenship is a licensed attorney and partner at Winston T...

Chris Cottone explains what risk capital is in a SPAC, why it’s required, and how much sponsors should realistically expect to commit.  He breaks down IPO and DESPAC costs, typical risk capital ranges, and how sponsor syndicates can reduce upfront financial burden through shared participation. Disclaimer: Michael J. Blankenship is a licensed attorney and partner at Winston Taylor. Joshua Wilson is...

Chris Cottone breaks down how SPAC structures have evolved and what investors are seeing in today’s market. He explains the role of rights, warrants, and time-to-close terms, and why longer SPAC timelines are becoming more attractive for both sponsors and investors.  This clip offers a practical look at how structure impacts dilution, redemptions, and deal execution. Disclaimer: Michael J. Blanken...

In this episode, Andrejka Bernatova shares why her team was able to complete one of the largest equity raises since 2021 while many others struggled. She explains how disciplined decision-making, operator-level experience, and surrounding the table with seasoned investors and advisors create guardrails that prevent chasing hype and inflated valuations. This conversation offers a candid look at wha...

In this clip, Andrejka Bernatov a introduces her global background spanning investment banking, private equity, sovereign wealth investing, and executive leadership across energy and infrastructure. She shares how experience at Credit Suisse, Morgan Stanley, Blackstone, and Abu Dhabi’s sovereign wealth fund shaped her perspective, and how that journey led to building both a SPAC franchise and a pr...

What’s the ideal size for a SPAC? Chris Cattone explains why the sweet spot is often between $100M and $150M in trust, balancing fee efficiency, target quality, and flexibility through the DESPAC process. Connect with the Guest : Chris Cottone Connect with the Hosts & The SPAC Podcast: Michael Blankenship LinkedIn: https://www.linkedin.com/in/mikeblankenship/ Joshua Wilson LinkedIn: https://ww...