SPACInsider

On this week's SPACInsider REPLAY, we revisit a 2022 conversation with Harry Sloan of the Eagle SPACs. 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.

Tariffs, Trade Routes, and Tech: Freightos' View from the Cargo Frontlines 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.  

This week, we sit down with Rick Hendrix and Adam Fishman from the Live Oak SPAC team. 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  

This week, we return to another episode from 2021, when we spoke with Will Marshall, Co-founder and CEO of Planet Labs(NYSE:PL). Planet provides data services drawn from its fleet of about 200 satellites that generate a complete image of the earth's surface every day. 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?

In this SPACInsider Podcast Replay, we go back to 2021, when we spoke with Chris Urmson, CEO and Chairman of autonomous truck technology firm Aurora (NASDAQ:AUR). 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.  

This week, in a special edition of the SPACInsider Podcast, we focus on the private markets with PM Insights Founder and CEO Nick Fusco. 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.    

Quantum computing has been one of the hottest investment topics in the past two months and three of the leading listed companies in the space are de-SPACs. But, how close is quantum computing to generating real value and what capabilities are still years away? 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.

In this special follow-up edition of the SPACInsider Podcast, we check back in with Dimitre Genov, Ed Kovary, and Nick Skibo, who last joined us at the end of Q3 2024, to assess the state of the SPAC market in 2025 and the key dynamics shaping the landscape. 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.  

AI assistance is finding its way into an increasing number of corners of the market, and the industrial supply chain is an area that could use help the most. This week,  we speak with Ed Nabrotzky, CEO of industrial technology firm Dot Ai. 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?  

Innovation in gene therapies is hard, but also potentially ground-breaking and biotechnology firm Medera is taking its decades-long journey in the space to the public markets just as hits its next steps in the clinical process. 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.  

This week, we speak with Betsy Cohen and Maxwell Smeal from the Cohen Circle Acquisition Corp. I team to get their views on the current SPAC landscape. Betsy Cohen is already a well-known figure in SPAC circles for having previously led the Fintech Acquisition and FTAC SPACs. 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.

Most people don't spend much time thinking about helium, but the resource is critical for some key industries and much of the supply lies with the US' geopolitical adversaries. There are also no helium mining companies listed on a major worldwide exchange, but that could soon be changing. 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.  

This week, the SPACInsider Podcast delves into some of the tax and accounting issues that SPAC teams and investors should be considering as we approach the Presidential election and the end of 2024. 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.

This week, SPACInsider founder Kristi Marvin speaks with a panel spanning the banking, investing and advisory sides of SPAC transactions. 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.  

SPAC targets in the healthcare space typically are a few years away from full commercialization, but shareholders in Exelfin Acquisition Corp. (NASDAQ:XFIN) will get to vote this week on a combination with a medical device company that is already churning out positive EBITDA. 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.  

The world has a long way to go to meet climate goals, especially airlines. There is currently no alternative to jet fuel-powered passenger planes on the horizon, which puts the focus on sustainable aviation fuel, or SAF. 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.

This week, in a special edition of the SPACInsider Podcast, we speak with David Cote, Executive Chairman of Vertiv, and Tom Knott, who was previously Head of Permanent Capital at Goldman Sachs, who joined forces in 2019 on GS Acquisition Holdings Corp. 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.  

Providing dedicated power to industrial facilities is a task that has drawn in a variety of different energy technologies and, increasingly, a variety of SPAC transactions. 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.

SPACs have brought a number of sustainability companies to market, but the economics of carbon credits have always been on the edge of those specific opportunities. 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.  

SPAC deals have provided a variety of ways to try and ride the growth in the private aviation space. One of the most successful so far has been to approach it not through the aircraft or sales of flights, but as an infrastructure play. 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?  

Spot lithium prices may be down, but Stardust Power believes that makes now an even more important time to build new US-based lithium refineries. 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.  

Developing new medical treatments takes time and money, which is generally where investors come in. But, Abpro has managed to resolve many of those questions before SPAC investors will join the show. 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.  

Not all SPAC officers get involved in order to ride the process all the way to a seat as CEO of the combined company, but Jaymes Winters walks us through his journey of how he started Nubia Brand International Corp as a newcomer to the asset class and why he is now leading its target company, Solidion (Nasdaq: STI). 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.

Should de-SPAC'd companies consider buying back their shares rather than making offers for their warrants? Abacus Life (NASDAQ:ABL) believes the answer is yes. 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?  

In this special edition of the SPACInsider podcast on the SEC's new SPAC rules, Kristi Marvin, from SPACInsider, spoke with a panel of SPAC legal experts to help unpack the hefty 581 pages included in the release. 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?  

AI was one of the big themes for SPACs in 2023. Now in 2024, investor appetite and the market opportunity around AI is just as strong. 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.  

Buzz around generative AI has been off to the races lately and that is exactly where Zapata AI has put many of its tools to work. 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?  

This week, in a special edition of the SPACInsider Podcast, SPACInsider founder Kristi Marvin speaks with Omeed Malik, Chairman and CEO of the Colombier SPACs. 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?

This week, we speak with iLearningEngine's CEO Harish Chidambaran and Matt Safaii, Chairman and CEO of Arrowroot Acquisition Corp. (Nasdaq: ARRW). The two announced a $1.4 billion deal in April. 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.  

This week, we get into both sides of a SPAC transaction in the form of Kirk Taylor. He helped steer American Acquisition Opportunity and now serves as CFO of Royalty Management Holdings (Nasdaq: RMCO), with which the SPAC merged in early November. 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.

This week, we speak with Esteban Saldarriaga, CEO of LatAm Logistics Properties and Tom Hennessy, Chairman and CEO of the SPAC, two (NYSE: TWOA). 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. 

This week, we speak with J. Clay Sell, CEO of X-energy, which announced a $1.18 billion combination with Ares Acquisition Corporation in December 2022. 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.

Biotech firms tend to come on to SPACs' radar when they still have some clinical work to complete to get to an approved medicine or device, but Avertix is ahead of that particular curve. 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.  

Sustainable materials are starting to take a bite out of the share of single-use plastics in circulation, but replacing the full $600 billion plastics market is going to take more innovation and much more capital. 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.  

Renewable energy sources have long been pressed on the fact that most can only supply power for certain portions of the day. But, what if you could combine multiple renewable technologies into a refinery that had round-the-clock output? 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.  

As companies find new ways of automating business processes with AI, a new AI-driven approach to auto insurance is heading West from India with the help of a SPAC deal. 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.  

This week, we get an update from Brandon Mintz, CEO of Bitcoin Depot, which recently closed its SPAC combination with GSR II Meteora Acquisition Corp. in June. 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. Give it a listen

SPAC structures can provide unique opportunities to bring together many pieces to a new puzzle, which is very much the case with this week's deal. 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.    

The London Stock Exchange has seen several of its companies decamp for Wall Street and SPACs have become a new avenue for those companies to skip across the pond. 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.

Car enthusiasts have been bolting carbon fiber wheels onto high performance vehicles for years. But, the hitherto luxury add-on brings real benefits to vehicle weight and energy economy, both of which have a new importance in the age of EVs. 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.  

With lithium supply for EVs and other batteries tight and much of it coming with geopolitical baggage, one new SPAC deal is looking to put forward a lithium stock with less baggage. 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.  

SPAC transactions have taken a variety of Electric Vehicle (EV) business models to the public markets. 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.  

There are new things happening in brand security from the physical marks that track products through their supply chains to digital tools to prevent online piracy. 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.

This week, we speak with Joe Reece and Stephen Kadenacy, from the SilverBox team. Joe and Stephen led the Boxwood Merger Corp. and SilverBox Engaged Merger Corp. I transactions, as well as recently priced the SilverBox Corp. III IPO. 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? Give it a listen.

SPACs have been searching hard for combination targets with lean balance sheets and strong cash flow. So, why not combine with a company that helps other companies develop lean balance sheets and strong cash flow? 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.

Between the various recent cases in the Delaware courts, such as Boxed, which involved the different SPAC voting classes, or the Multiplan case, or Arrival, all of which are in addition to the 1% excise tax on share buybacks, there has been a noticeable trend of SPACs moving to off-shore domiciles. 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. Give it a listen.  

Fighting for digital services market share in developed markets can be uphill sledding, but what if what you are offering has no legacy competitor to replace? 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.  

For better or worse, fighting fires is big business. This week, we speak with Tim Sheehy, Founder and CEO of Bridger Aerospace (NASDAQ:BAER). 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.

Whether you're bullish on the North American EV car boom or not, there are exciting things happening on two wheels in Europe and Asia. 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.  

Visions of a self-sufficient energy future with solar panels on every household roof have been around for decades. But, it may take companies able to bring the full package of design, construction and financing to get more homeowners on board. 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.  

The chip shortage has been a serious headwind to many tech companies, but what has it been like for the chip makers themselves? 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.