The DESPAC Podcast

Chaz Churchwell

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.

  1. Sep 10 ·  Video

    SPAC and DESPAC Market Update: Deal Sizes, Valuations, and Sector Trends

    373 active SPACs are hunting for targets — but only 23.3% of completed DESPACs trade above $10. Chaz Churchwell and Joshua Wilson break down the current SPAC-to-DESPAC data and what it means for private companies weighing a public listing. Chaz Churchwell, founder of Churchwell Insurance Agency and a D&O specialist for public companies, joins executive producer Joshua Wilson to unpack the state of the SPAC and DESPAC market. Drawing on SPAC Research's weekly monitors, they cover buyer pool depth, capital formation, completed deal sizes, valuation discipline, and which sectors are leading the DESPAC pipeline — key context for any private company weighing a SPAC merger as its path to going public. What We Cover: 373 active SPACs: 267 still searching, 106 deals already announced$28B raised across 141 SPAC IPOs through Aug. 14, averaging $199M per SPAC30 completed DESPACs this year totaling $38B in aggregate valueWhy the live pipeline's $575M average deal size differs from completed dealsValuation reality: only 23.3% of DESPAC stocks trade above $10; 40% sit below $5Why closing a DESPAC isn't the same as succeeding post-mergerTech's lead in the pipeline: 35 live deals, highest completed-deal median priceHealthcare's active but lower-valued DESPAC activityWhere to get D&O insurance guidance before going public via SPACConnect with Chaz Churchwell: LinkedIn https://www.linkedin.com/in/chazchurchwell/ Protect Your Transaction: Churchwell Insurance Agency specializes in D&O, E&O, representations and warranties, and public company liability for SPAC sponsors, DESPAC targets, and post-merger companies. https://www.churchwellagency.com/ Follow The DESPAC Podcast: Website https://www.thedespacpodcast.com/ LinkedIn https://www.linkedin.com/company/thedespacpodcast/ YouTube https://www.youtube.com/@thedespacpodcast Apple https://podcasts.apple.com/podcast/id1855942535?mt=2&ls=1 Spotify https://open.spotify.com/show/1pA3EuEU656ZsEEx1Te4C2 A One Iron Network production: Executive Producer Joshua Wilson The DESPAC Podcast is for informational and educational purposes only. Nothing in this content constitutes legal, investment, tax, or financial advice, nor a recommendation to pursue or avoid any transaction. Consult qualified legal, financial, and tax professionals before acting on any information discussed.  News Theme 1 by Audionautix is licensed under a Creative Commons Attribution 4.0 license. https://creativecommons.org/licenses/by/4.0/ THE DESPAC PODCAST  DISCLAIMER The DESPAC Podcast is for informational purposes only. The views and opinions expressed by the host and guests are their own and do not represent the views of One Iron Network LLC, its affiliates, or any sponsoring organization. Nothing in this podcast should be interpreted as legal advice, investment advice, tax advice, or a recommendation to pursue or avoid any transaction. Discussions may reference SPACs, DESPAC transactions, securities regulations, or public-company readiness frameworks. These conversations are educational in nature and should not be relied upon when making financial or strategic decisions. Listeners should consult qualified legal, financial, and tax professionals before acting on any information discussed in this podcast. Any examples or scenarios mentioned are illustrative and may not reflect current market conditions or regulatory requirements. Participation by a guest does not constitute an endorsement of any company, strategy, product, or service. References to specific firms or individuals are for context only. One Iron Network LLC and the DESPAC Podcast disclaim all liability arising from the use of or reliance on the information presented.

    SPAC and DESPAC Market Update: Deal Sizes, Valuations, and Sector Trends
  2. Sep 8 ·  Video

    What Attorneys and Bankers Won't Tell You About DESPAC Filings — Brian Cavalli

    Attorneys and bankers rarely say this part out loud: your SEC filing doesn't move without a printer, and waiting too long to bring one in is one of the biggest reasons DESPAC filings blow their deadlines. Brian Cavalli, Director of Sales at EdgarAgents and a 17-year veteran of the financial printing industry, joins host Chaz Churchwell to unpack the piece of the DESPAC process most sponsors overlook. Brian explains what EDGARizing a document means, why typesetting exists, how XBRL tagging fits into an S-4 or F-4 filing, and why CCC and CIK codes trip up first-time filers, plus why bringing the printer in early can cut both filing time and legal costs in half. What We Cover: What a financial printer actually does in an SEC filingWhat "EDGARizing" a document meansEDGAR-only filings versus Typeset, and why most DESPACs choose TypesetHow XBRL tagging works and why it's finalized lastWhy S-4 and F-4 filings are the biggest documents a printer handlesTypical turnaround time and how to speed it upCCC and CIK codes: the identification most companies apply for too lateWhy an experienced deal team avoids the biggest points of delayWhy bringing in the printer early can cut filing time in halfConnect with Brian Cavalli:  Website: https://try.edgaragents.com/ LinkedIn: https://www.linkedin.com/in/briancavalli/ Connect with Chaz Churchwell:  LinkedIn: https://www.linkedin.com/in/chazchurchwell/ Protect Your Transaction: Churchwell Insurance Agency specializes in D&O, E&O, representations and warranties, and public company liability for SPAC sponsors, DESPAC targets, and post-merger companies. https://www.churchwellagency.com/ Follow The DESPAC Podcast: Website https://www.thedespacpodcast.com/ · LinkedIn https://www.linkedin.com/company/thedespacpodcast/ · YouTube https://www.youtube.com/@thedespacpodcast · Apple https://podcasts.apple.com/podcast/id1855942535?mt=2&ls=1 · Spotify https://open.spotify.com/show/1pA3EuEU656ZsEEx1Te4C2 A One Iron Network production: Executive Producer Joshua Wilson The DESPAC Podcast is for informational and educational purposes only. Nothing in this content constitutes legal, investment, tax, or financial advice, nor a recommendation to pursue or avoid any transaction. Consult qualified legal, financial, and tax professionals before acting on any information discussed.  News Theme 1 by Audionautix is licensed under a Creative Commons Attribution 4.0 license. https://creativecommons.org/licenses/by/4.0/ THE DESPAC PODCAST  DISCLAIMER The DESPAC Podcast is for informational purposes only. The views and opinions expressed by the host and guests are their own and do not represent the views of One Iron Network LLC, its affiliates, or any sponsoring organization. Nothing in this podcast should be interpreted as legal advice, investment advice, tax advice, or a recommendation to pursue or avoid any transaction. Discussions may reference SPACs, DESPAC transactions, securities regulations, or public-company readiness frameworks. These conversations are educational in nature and should not be relied upon when making financial or strategic decisions. Listeners should consult qualified legal, financial, and tax professionals before acting on any information discussed in this podcast. Any examples or scenarios mentioned are illustrative and may not reflect current market conditions or regulatory requirements. Participation by a guest does not constitute an endorsement of any company, strategy, product, or service. References to specific firms or individuals are for context only. One Iron Network LLC and the DESPAC Podcast disclaim all liability arising from the use of or reliance on the information presented.

    What Attorneys and Bankers Won't Tell You About DESPAC Filings — Brian Cavalli
  3. Aug 25 ·  Video

    What Institutional Investors Actually Look For in a DESPAC Candidate — Christine McNerney

    One DESPAC CEO took his freshly raised public capital and vanished for a month to golf across Japan. Christine McNerney, Portfolio Manager at Periscope Capital, has seen why that ego sinks a DESPAC - and what makes an institutional investor say yes instead. Christine McNerney is Portfolio Manager at Periscope Capital, a Toronto-based fund active in SPACs for over a decade. She joins host Chaz Churchwell on what institutional investors look for before backing a DESPAC: real capital needs vs. ego-driven listings, governance and board readiness, consistent valuations, how to vet a SPAC sponsor's track record, and why redemption pressure makes institutional backstop capital essential to a DESPAC's success. What We Cover: - "We don't need the capital": the line that's an instant red flag - Ego vs. real use of proceeds: what gets a DESPAC passed over - How Periscope Capital vets management teams before backing a deal - Governance readiness: audited financials, IR, and board certifications - Why shifting valuations across meetings kill investor confidence - Pricing at the "absolute peak": why it tells shareholders to sell - What to vet in a SPAC sponsor team beyond deal count - Redemptions above 80% and the case for institutional backstops Connect with Christine McNerney: Website: https://www.periscopecap.com/ LinkedIn: https://www.linkedin.com/in/christine-mcnerney-cfa-7ab47540/ Connect with Chaz Churchwell: LinkedIn: https://www.linkedin.com/in/chazchurchwell/ Protect Your Transaction: Churchwell Insurance Agency specializes in D&O, E&O, representations and warranties, and public company liability for SPAC sponsors, DESPAC targets, and post-merger companies. https://www.churchwellagency.com/ Follow The DESPAC Podcast: Website https://www.thedespacpodcast.com/ · LinkedIn https://www.linkedin.com/company/thedespacpodcast/ · YouTube https://www.youtube.com/@thedespacpodcast · Apple https://podcasts.apple.com/podcast/id1855942535?mt=2&ls=1 · Spotify https://open.spotify.com/show/1pA3EuEU656ZsEEx1Te4C2 A One Iron Network production: Executive Producer Joshua Wilson The DESPAC Podcast is for informational and educational purposes only. Nothing in this content constitutes legal, investment, tax, or financial advice, nor a recommendation to pursue or avoid any transaction. Consult qualified legal, financial, and tax professionals before acting on any information discussed.  News Theme 1 by Audionautix is licensed under a Creative Commons Attribution 4.0 license. https://creativecommons.org/licenses/by/4.0/ THE DESPAC PODCAST  DISCLAIMER The DESPAC Podcast is for informational purposes only. The views and opinions expressed by the host and guests are their own and do not represent the views of One Iron Network LLC, its affiliates, or any sponsoring organization. Nothing in this podcast should be interpreted as legal advice, investment advice, tax advice, or a recommendation to pursue or avoid any transaction. Discussions may reference SPACs, DESPAC transactions, securities regulations, or public-company readiness frameworks. These conversations are educational in nature and should not be relied upon when making financial or strategic decisions. Listeners should consult qualified legal, financial, and tax professionals before acting on any information discussed in this podcast. Any examples or scenarios mentioned are illustrative and may not reflect current market conditions or regulatory requirements. Participation by a guest does not constitute an endorsement of any company, strategy, product, or service. References to specific firms or individuals are for context only. One Iron Network LLC and the DESPAC Podcast disclaim all liability arising from the use of or reliance on the information presented.

    What Institutional Investors Actually Look For in a DESPAC Candidate — Christine McNerney
  4. Aug 4

    The Early Signals That Tell You Retail Trusts Your DESPAC — Mo Abdi, RetailVolts

    Six months before a DESPAC closes, retail investors have already decided if they trust the deal — and Mo Abdi says that excitement is measurable, and it tracks against redemption rates. EPISODE SUMMARY Mo Abdi, Chief Executive Officer of RetailVolts and creator of the GateWatch AI sentiment platform, joins host Chaz Churchwell on The DESPAC Podcast. A physician by training turned founder, Mo built RetailVolts out of a decade moderating 120+ subreddits into a retail investor activation agency working across Reddit, X, StockTwits, and Discord. He breaks down the early signals telling a SPAC sponsor or DESPAC target whether retail trusts the transaction, how coordinated bot networks manufacture sentiment, and why legacy PR is failing the retail channel. What We Cover - The measurable excitement signal three to six months pre-close - Why sentiment tracks against DESPAC redemption rates - Three layers of retail analysis: buzz, product, deal structure - How GateWatch AI scores posts against EDGAR and newswire data - Why SPACs demand more retail education than IPOs - How bot networks spin up accounts to move a narrative - Spotting coordinated posts by timestamp and IP clustering - What RetailVolts client onboarding actually includes - Why retail now drives a reported 36% of equity flow - From oncology and physics to a market intelligence platform Connect with Mo Abdi RetailVolts: https://www.retailvolts.com/ GateWatch AI: https://www.gatewatch.ai/ Connect with Chaz Churchwell LinkedIn: https://www.linkedin.com/in/chazchurchwell/ Protect Your Transaction Churchwell Insurance Agency specializes in D&O, E&O, representations and warranties, and public company liability for SPAC sponsors, DESPAC targets, and post-merger companies. https://www.churchwellagency.com/ Follow The DESPAC Podcast Website https://www.thedespacpodcast.com/ · LinkedIn https://www.linkedin.com/company/thedespacpodcast/ · YouTube https://www.youtube.com/@thedespacpodcast · Apple https://podcasts.apple.com/podcast/id1855942535?mt=2&ls=1 · Spotify https://open.spotify.com/show/1pA3EuEU656ZsEEx1Te4C2 The DESPAC Podcast is for informational and educational purposes only. Nothing in this content constitutes legal, investment, tax, or financial advice, nor a recommendation to pursue or avoid any transaction. Consult qualified legal, financial, and tax professionals before acting on any information discussed.  News Theme 1 by Audionautix is licensed under a Creative Commons Attribution 4.0 license. https://creativecommons.org/licenses/by/4.0/ THE DESPAC PODCAST  DISCLAIMER The DESPAC Podcast is for informational purposes only. The views and opinions expressed by the host and guests are their own and do not represent the views of One Iron Network LLC, its affiliates, or any sponsoring organization. Nothing in this podcast should be interpreted as legal advice, investment advice, tax advice, or a recommendation to pursue or avoid any transaction. Discussions may reference SPACs, DESPAC transactions, securities regulations, or public-company readiness frameworks. These conversations are educational in nature and should not be relied upon when making financial or strategic decisions. Listeners should consult qualified legal, financial, and tax professionals before acting on any information discussed in this podcast. Any examples or scenarios mentioned are illustrative and may not reflect current market conditions or regulatory requirements. Participation by a guest does not constitute an endorsement of any company, strategy, product, or service. References to specific firms or individuals are for context only. One Iron Network LLC and the DESPAC Podcast disclaim all liability arising from the use of or reliance on the information presented.

    The Early Signals That Tell You Retail Trusts Your DESPAC — Mo Abdi, RetailVolts
  5. Jul 23

    The Four Ways to Go Public, and Why Most Companies Only Have One — Brandon Sun

    There are four ways to take a company public. Brandon Sun says 95% of companies realistically have access to one. Brandon Sun, Managing Director and Head of SPAC Investment Banking at Cohen & Company, has closed more than 130 DESPAC and M&A transactions representing over $210 billion in enterprise value, plus 120+ IPOs raising over $45 billion. He walks host Chaz Churchwell through the decision facing private companies today: an IPO backlog roughly 1,000 companies deep, bulge-bracket banks acting as gatekeepers, and a market where sponsor quality separates deals that work from ones that don't. Brandon also explains why the regret he hears most isn't from companies that went public — it's from the ones that waited. What We Cover: - The four paths to public markets, and why most companies have one - Why the IPO backlog leaves companies waiting quarters or years - How investment banks function as gatekeepers to the traditional IPO - Public-private arbitrage and why it drives sector selection - Where capital is going: quantum, nuclear, rare earths, defense, space - Why valuation is a point-in-time consideration, not a finish line - Sponsor quality and the halo effect in biotech DESPACs - What separates companies that follow through from ones that back out - Cross-border listings: why Asia and Europe turn to SPACs - The regret that actually shows up: missing the window Connect with Brandon Sun: https://www.cohencm.com/brandon-sun https://www.linkedin.com/in/brandonsun/ Connect with Chaz Churchwell: https://www.linkedin.com/in/chazchurchwell/ Protect Your Transaction: Churchwell Insurance Agency specializes in D&O, E&O, representations and warranties, and public company liability for SPAC sponsors, DESPAC targets, and post-merger companies. https://www.churchwellagency.com/ Follow The DESPAC Podcast: https://www.thedespacpodcast.com/ https://www.linkedin.com/company/thedespacpodcast/ https://www.youtube.com/@thedespacpodcast Apple https://podcasts.apple.com/podcast/id1855942535?mt=2&ls=1 Spotify https://open.spotify.com/show/1pA3EuEU656ZsEEx1Te4C2 The DESPAC Podcast is for informational and educational purposes only. Nothing in this content constitutes legal, investment, tax, or financial advice, nor a recommendation to pursue or avoid any transaction. Consult qualified legal, financial, and tax professionals before acting on any information discussed.  News Theme 1 by Audionautix is licensed under a Creative Commons Attribution 4.0 license. https://creativecommons.org/licenses/by/4.0/ THE DESPAC PODCAST  DISCLAIMER The DESPAC Podcast is for informational purposes only. The views and opinions expressed by the host and guests are their own and do not represent the views of One Iron Network LLC, its affiliates, or any sponsoring organization. Nothing in this podcast should be interpreted as legal advice, investment advice, tax advice, or a recommendation to pursue or avoid any transaction. Discussions may reference SPACs, DESPAC transactions, securities regulations, or public-company readiness frameworks. These conversations are educational in nature and should not be relied upon when making financial or strategic decisions. Listeners should consult qualified legal, financial, and tax professionals before acting on any information discussed in this podcast. Any examples or scenarios mentioned are illustrative and may not reflect current market conditions or regulatory requirements. Participation by a guest does not constitute an endorsement of any company, strategy, product, or service. References to specific firms or individuals are for context only. One Iron Network LLC and the DESPAC Podcast disclaim all liability arising from the use of or reliance on the information presented.

    The Four Ways to Go Public, and Why Most Companies Only Have One — Brandon Sun
  6. Jul 14

    Do You Actually Need the Capital? Before You Choose a SPAC with Michael Strauss

    Most founders ask what a SPAC is worth before they ask whether they need it at all. Michael Strauss of Boardroom Alpha flips that: the first question is whether you need the capital now, or can afford to optimize price and stay private longer. Michael Strauss, Director at Boardroom Alpha, joins host Chaz Churchwell for a data-driven look at the SPAC and DESPAC decision. Boardroom Alpha rates public-company CEOs, CFOs, and board directors, and tracks the sponsor teams behind SPAC vehicles. Michael unpacks why capital-intensive businesses face a different calculus than software, how near-total redemptions and PIPE backstops reshape real proceeds, what separates durable post-DESPAC companies, and the readiness a company needs before going public. What We Cover: The first question: do you actually need the capital now?Why hard-tech names outlasted software in the SPAC eraHow Boardroom Alpha grades directors, officers, and sponsorsPublic-company readiness: audit committees, PCAOB, closeRedemptions, sponsor promote, warrants, and real dilutionHow PIPEs backstop near-total redemptionsVetting sponsor track records before signing an LOILife after the DESPAC: governance, IR, and strategySPAC vs. IPO vs. staying private longerWhat founders should watch over the next 12 to 24 monthsConnect with Michael Strauss:  Website https://www.boardroomalpha.com/ LinkedIn https://www.linkedin.com/in/michael-strauss-00a961aa/ Connect with Chaz Churchwell:  LinkedIn https://www.linkedin.com/in/chazchurchwell/ Protect Your Transaction: Churchwell Insurance Agency specializes in D&O, E&O, representations and warranties, and public company liability for SPAC sponsors, DESPAC targets, and post-merger companies. https://www.churchwellagency.com/ Follow The DESPAC Podcast:  Website https://www.thedespacpodcast.com/ · LinkedIn https://www.linkedin.com/company/thedespacpodcast/ · YouTube https://www.youtube.com/@thedespacpodcast · Apple https://podcasts.apple.com/podcast/id1855942535?mt=2&ls=1 · Spotify https://open.spotify.com/show/1pA3EuEU656ZsEEx1Te4C2 The DESPAC Podcast is for informational and educational purposes only. Nothing in this content constitutes legal, investment, tax, or financial advice, nor a recommendation to pursue or avoid any transaction. Consult qualified legal, financial, and tax professionals before acting on any information discussed.  News Theme 1 by Audionautix is licensed under a Creative Commons Attribution 4.0 license. https://creativecommons.org/licenses/by/4.0/ THE DESPAC PODCAST  DISCLAIMER The DESPAC Podcast is for informational purposes only. The views and opinions expressed by the host and guests are their own and do not represent the views of One Iron Network LLC, its affiliates, or any sponsoring organization. Nothing in this podcast should be interpreted as legal advice, investment advice, tax advice, or a recommendation to pursue or avoid any transaction. Discussions may reference SPACs, DESPAC transactions, securities regulations, or public-company readiness frameworks. These conversations are educational in nature and should not be relied upon when making financial or strategic decisions. Listeners should consult qualified legal, financial, and tax professionals before acting on any information discussed in this podcast. Any examples or scenarios mentioned are illustrative and may not reflect current market conditions or regulatory requirements. Participation by a guest does not constitute an endorsement of any company, strategy, product, or service. References to specific firms or individuals are for context only. One Iron Network LLC and the DESPAC Podcast disclaim all liability arising from the use of or reliance on the information presented.

    Do You Actually Need the Capital? Before You Choose a SPAC with Michael Strauss
  7. Jul 8

    Preparing for a DESPAC: Audit Readiness, Valuation & Public-Company Reporting with Jonathan Grubbs and Jeffrey Duncan

    Most private companies treat a DESPAC as the finish line. Jeffrey Duncan and Jonathan Grubbs of Aprio explain why day one as a public company is where the real work begins — and why targets that wait until the BCA is signed are already behind. In this episode, host Chaz Churchwell sits down with Jeffrey Duncan, Partner and leader of Technical Accounting Consulting Services at Aprio, and Jonathan Grubbs, Director and Complex Financial Instrument Leader in Aprio's Valuation & Investigation Services practice. Together they walk through what it actually takes to prepare a private company for a DESPAC transaction: PCAOB audit readiness, document gathering, internal controls, valuation strategy across competing stakeholders, the role of PIPE capital, and the ongoing SEC reporting obligations that start the moment a deal closes. A practical, practitioner-level roadmap for founders, CFOs, and boards weighing the public-company path. What We Cover: Why "start early" means 12 to 18 months ahead of the BCA closeThe three keys to a successful DESPAC transactionPreparing for a PCAOB audit when you've never been auditedGap assessments, internal controls, and getting off spreadsheetsNegotiating legacy debt and equity before it derails a dealWhy valuation is the common language of every DESPAC stakeholderHow PIPE capital validates a deal and funds the balance sheetTreating valuation as an ongoing compliance function, not a one-time eventLife as a public-company CFO after the transaction closesThe quarterly vs. semi-annual reporting debateConnect with Jonathan Grubbs and Jeffrey Duncan:  Website: aprio.com  Jonathan Grubbs LinkedIn: linkedin.com/in/jonathan-grubbs-761a94161  Jeffrey Duncan LinkedIn: linkedin.com/in/jeffduncancpa Connect with Chaz Churchwell:  LinkedIn: linkedin.com/in/chazchurchwell Protect Your Transaction:  Churchwell Insurance Agency specializes in D&O, E&O, representations and warranties, and public company liability for SPAC sponsors, DESPAC targets, and post-merger companies. churchwellagency.com Follow The DESPAC Podcast:  Website thedespacpodcast.com · LinkedIn linkedin.com/company/thedespacpodcast · YouTube youtube.com/@thedespacpodcast The DESPAC Podcast is for informational and educational purposes only. Nothing in this content constitutes legal, investment, tax, or financial advice, nor a recommendation to pursue or avoid any transaction. Consult qualified legal, financial, and tax professionals before acting on any information discussed.  News Theme 1 by Audionautix is licensed under a Creative Commons Attribution 4.0 license. https://creativecommons.org/licenses/by/4.0/ THE DESPAC PODCAST  DISCLAIMER The DESPAC Podcast is for informational purposes only. The views and opinions expressed by the host and guests are their own and do not represent the views of One Iron Network LLC, its affiliates, or any sponsoring organization. Nothing in this podcast should be interpreted as legal advice, investment advice, tax advice, or a recommendation to pursue or avoid any transaction. Discussions may reference SPACs, DESPAC transactions, securities regulations, or public-company readiness frameworks. These conversations are educational in nature and should not be relied upon when making financial or strategic decisions. Listeners should consult qualified legal, financial, and tax professionals before acting on any information discussed in this podcast. Any examples or scenarios mentioned are illustrative and may not reflect current market conditions or regulatory requirements. Participation by a guest does not constitute an endorsement of any company, strategy, product, or service. References to specific firms or individuals are for context only. One Iron Network LLC and the DESPAC Podcast disclaim all liability arising from the use of or reliance on the information presented.

    Preparing for a DESPAC: Audit Readiness, Valuation & Public-Company Reporting with Jonathan Grubbs and Jeffrey Duncan
  8. Jun 30

    What Makes a Good SPAC Target (and What Disqualifies One)

    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 Sturgeon, Managing Partner at Brookline Capital Markets, for a practitioner's breakdown of what separates a strong SPAC target from a costly mistake. They unpack why SPACs win where IPOs can't — complex corporate transactions, international uplistings, and hard tech that needs a longer investor-education runway — plus the rights-versus-warrants trade-off, overhang, transaction deadlines, and why public-company readiness (PCAOB audits, board, service providers) determines whether a deal closes or dies on the calendar. What We Cover:  🎯 The size and stage thresholds that disqualify a target  🧬 Why single-asset early-stage biotech struggles — and where GLP-1s change the math  🌍 SPACs for spinoffs, post-reorg equity, and international uplistings  ⚡ Hard tech and the investor-education runway IPOs can't offer  📊 Rights vs. warrants: dilution, liquidity, and overhang explained  ⏱️ Transaction deadlines and the cost of blowing a timeline  ✅ Public-company readiness before you ever talk to a SPAC  💡 What the best sponsors bring beyond capital, post-close Connect with Dimitre Genov:  LinkedIn linkedin.com/in/dimitre-genov-6136182 SPAC & Forth newsletter linkedin.com/newsletters/spac-forth-7395846241579847680 Connect with Patrick Sturgeon:  Website brooklinecapmkts.com  LinkedIn linkedin.com/in/patrickasturgeon Connect with Chaz Churchwell:  LinkedIn linkedin.com/in/chazchurchwell Protect Your Transaction: Churchwell Insurance Agency specializes in D&O, E&O, representations and warranties, and public company liability for SPAC sponsors, DESPAC targets, and post-merger companies. https://www.churchwellagency.com/ The DESPAC Podcast is for informational and educational purposes only. Nothing in this content constitutes legal, investment, tax, or financial advice, nor a recommendation to pursue or avoid any transaction. Consult qualified legal, financial, and tax professionals before acting on any information discussed.  News Theme 1 by Audionautix is licensed under a Creative Commons Attribution 4.0 license. https://creativecommons.org/licenses/by/4.0/ THE DESPAC PODCAST  DISCLAIMER The DESPAC Podcast is for informational purposes only. The views and opinions expressed by the host and guests are their own and do not represent the views of One Iron Network LLC, its affiliates, or any sponsoring organization. Nothing in this podcast should be interpreted as legal advice, investment advice, tax advice, or a recommendation to pursue or avoid any transaction. Discussions may reference SPACs, DESPAC transactions, securities regulations, or public-company readiness frameworks. These conversations are educational in nature and should not be relied upon when making financial or strategic decisions. Listeners should consult qualified legal, financial, and tax professionals before acting on any information discussed in this podcast. Any examples or scenarios mentioned are illustrative and may not reflect current market conditions or regulatory requirements. Participation by a guest does not constitute an endorsement of any company, strategy, product, or service. References to specific firms or individuals are for context only. One Iron Network LLC and the DESPAC Podcast disclaim all liability arising from the use of or reliance on the information presented.

    What Makes a Good SPAC Target (and What Disqualifies One)
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About

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.