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The SPAC Podcast

Author: Joshua Wilson

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🎙️ Welcome to The SPAC Podcast — your front-row seat to the dynamic world of Special Purpose Acquisition Companies.


Hosted by Michael Blankenship, a leading capital markets attorney and partner at Winston & Strawn LLP, and Joshua Wilson, executive producer and capital markets advisor, The SPAC Podcast brings you candid conversations, insider insights, and sharp analysis from the people shaping the future of the SPAC market.


Whether you’re a sponsor, investor, founder, attorney, banker, or just curious about the mechanics and momentum behind SPACs — this show is your go-to source for education, strategy, and real-world stories from the dealmakers behind the deals.


🚀 What You’ll Hear


In each episode, we’ll unpack:


  • The structure, lifecycle, and mechanics of SPACs — from IPO to de-SPAC
  • Legal and regulatory insights that matter to sponsors and targets
  • Interviews with founders, investors, and advisors who’ve navigated successful transactions
  • Trends and forecasts from the front lines of capital markets
  • Lessons learned, deal strategies, and ways to leverage SPACs as a growth vehicle


We’re not just watching the SPAC market — we’re talking to the people building it.


🎧 Meet Your Hosts


Michael Blankenship is the Office Managing Partner of Winston & Strawn LLP (Houston) and Co-Chair of the firm’s Capital Markets practice. He has represented over 100 public companies, private equity firms, and SPACs in IPOs, M&A, de-SPACs, and securities offerings. Known for his clarity, legal acumen, and deal fluency, Michael brings unmatched insight into the regulatory, transactional, and strategic forces shaping the SPAC space.


Joshua Wilson is experienced in investment banking and the founder of multiple media brands, including The Investor Relations Podcast. With over 2,000 interviews under his belt and deep experience in real estate, private capital, and investor engagement, Josh brings a fresh voice and strategic lens to every conversation — helping connect deals with the stories and people behind them.


Together, they bridge law, finance, and media — guiding listeners through the world of SPACs with clarity, credibility, and curiosity.


🌎 Who This Show is For


  • SPAC Sponsors & CEOs
  • Institutional and Private Investors
  • Investment Bankers & Corporate Attorneys
  • Venture-backed Founders and Startups
  • Private Equity & Family Offices
  • Finance Professionals and Capital Markets Enthusiasts


đź”” Subscribe, Follow, and Join the Conversation


This isn’t just a show — it’s a platform for education, connection, and business development in the SPAC ecosystem. Subscribe now on Apple, Spotify, or YouTube. New episodes drop weekly.


Follow us on LinkedIn and share the show with colleagues, clients, and fellow capital markets pros.


The SPAC Podcast

Where sponsors meet stories, markets meet momentum, and strategy meets execution.

152 Episodes
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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 designed to educate founders, investors, and dealmakers navigating the modern SPAC landscape. Disc...
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. Disclaimers: The views, opinions, and statements expressed by the guest are solely their own and do not necessarily reflect the views of The SPAC Podcast, its hosts, or affiliated o...
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. Disclaimers: The views, opinions, and statements expressed by the guest are solely their own and do not necessarily reflect the...
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. Disclaimers: The views, opinions, and statements expressed by the guest are solely their own and do not necessarily reflect the views of The SPAC Podcast, its hosts, or affiliated organizations. This content is for info...
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. Disclaimers: The views, opinions, and statements expressed by the guest are solely their own and do not necessarily reflect the views of...
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. Disclaimers: The views, opinions, and statements expressed by the guest are solely their own and do not necessarily reflect the views of The SPAC Podcast, its hosts, or affiliated organizations. Th...
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. Disclaimers: The views, opinions, and statements expressed by the guest are solely their own and do not necessarily reflect the views of The SPAC P...
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. Disclaimers: The views, opinions, and statements expressed by the guest are solely their own and do not necessarily reflect the views of The SPAC Podcast, its hosts, or a...
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. Disclaimers: The views, opinions, and statements expressed by the guest are solely their own and do not necessarily reflect the views of The SPAC Podcast, its hosts, or affiliated organizatio...
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. Disclaimers: The views, opinions, and statements expressed by the guest are solely their own and do not necessarily re...
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 what it really takes to raise capital in challenging markets and why saying “no” is often the most i...
In this clip, Andrejka Bernatova 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 private investment platform. This is the kind of operator-level experience shaping the next generati...
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://www.linkedin.com/in/joshuabrucewilson/ YouTube Channel: https://www.youtube.com/@Thespacpodcast D...
Chris Cattone joins The SPAC Podcast to share his background and perspective from inside a multi-location family office. As a partner at Greentree Financial, Chris works closely with companies preparing for IPOs and follow-on offerings, coordinating with auditors, attorneys, and underwriters to ensure a seamless public-market process. He also explains how deep experience in quarterly and annual compliance shaped Greentree’s approach to capital markets advisory. Disclaimers: The view...
Warrants are misunderstood, not obsolete. James C. explains how he evaluates SPAC warrants, why pricing under 25 cents still matters, and how basket strategies can create asymmetric outcomes with defined risk. This is a disciplined view of optionality, not speculation. Connect with the Guest: James Campanella Connect with the Hosts & The SPAC Podcast: Michael Blankenship LinkedIn: https://www.linkedin.com/in/mikeblankenship/ Joshua Wilson LinkedIn: https://www.linkedin.com/in/joshua...
In today’s SPAC market, experience matters more than ever. James C. highlights the sponsors he’s watching and explains why repeat execution, investor trust, and deal-closing credibility separate leaders from noise. For investors, sponsor history is no longer optional homework. Disclaimers: The views, opinions, and statements expressed by the guest are solely their own and do not necessarily reflect the views of The SPAC Podcast, its hosts, or affiliated organizations. This content is fo...
Markets don’t recover in theory. They recover through real deals. James C. walks through the SPAC transactions he’s watching closely and explains why PIPE strength, investor quality, and deal execution will determine whether the broader SPAC comeback holds. These deals may be early indicators of what comes next. Connect with the Guest: James Campanella Connect with the Hosts & The SPAC Podcast: Michael Blankenship LinkedIn: https://www.linkedin.com/in/mikeblankenship/ Joshua Wilson ...
Are SPACs still worth investing in? The answer depends on how you use them. James explains why SPACs can be a strong portfolio addition for investors who understand capital timing, yield floors, and upside optionality. Stability with asymmetric upside remains the core appeal. This is a practical view of SPACs as a portfolio tool, not a trade. Connect with the Guest: James Campanella Connect with the Hosts & The SPAC Podcast: Michael Blankenship LinkedIn: https://www.linkedin.com/in/...
SPAC selection isn’t about volume. It’s about sponsors. James C. breaks down the SPACs he’s invested in and why sponsor quality has become the defining factor in today’s market. From Churchill to Betsy Cohen and Cantor-backed vehicles, his approach prioritizes experience, capital access, and deal credibility. This clip offers a clear framework for how investors are thinking differently in 2024 and 2025. Connect with the Guest: James Campanella Connect with the Hosts & The SPAC Podca...
From the NYSE trading floor in 1994 to navigating multiple SPAC booms and pullbacks, James C. has seen capital markets from every angle. In this opening clip, James shares his background, how his perspective evolved beyond the trading floor, and why the SPAC market may be entering a needed rebrand phase after years of volatility. This is context worth hearing before talking strategy. Connect with the Guest: James Campanella Connect with the Hosts & The SPAC Podcast: Michael Blankens...
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