In this episode, host Chaz Churchwell is joined by securities attorney Morris Zarif, founder of Zarif Law Group, for a deep conversation on legal readiness, governance discipline, and the hidden risks private companies face when pursuing a DESPAC transaction.

Morris brings more than a decade of capital markets experience and breaks down what he consistently sees go wrong for targets that wait too long to prepare. From corporate governance cleanup and IP ownership to board structure, diligence gaps, and cost surprises, this episode gives leaders a clear look at what actually matters before and after going public.

Key topics include:

• Litigation patterns emerging from DESPAC transactions
• Why governance gaps derail deals and increase risk
• How early legal preparation protects valuation
• The importance of experienced advisors and consultants
• Hidden costs beyond legal fees, including audit and D&O exposure
• What founders must change in mindset to operate as a public company

This is a practical, experience driven conversation designed to help private companies approach the public markets with discipline, clarity, and confidence.

If you are considering a DESPAC or preparing for life as a public company, this episode is essential listening.

THE DESPAC PODCAST STANDARD LEGAL 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 Smooth Stone Capital, 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.

Smooth Stone Capital and the DESPAC Podcast disclaim all liability arising from the use of or reliance on the information presented.

In this final episode of The DESPAC Podcast Go Public Series, host Chaz Churchwell and SPAC attorney Michael Blankenship of Winston & Strawn walk through the last step of the Go Public Framework: C – Continuing to Evolve.

Public companies operate in a dynamic environment where regulations shift, risks change, and shareholder expectations intensify. Long-term viability depends on continuous adaptation, disciplined execution, and proactive risk management.

Listeners will learn:

• Why public-company responsibilities continue long after the DESPAC closes

• Why annual risk and insurance reviews are essential for executives

• How litigation trends affect newly public companies

• Why scalable operations and M&A readiness matter

• How to use public currency for strategic growth

• What crypto-involved companies must do to remain compliant as regulations shift

• Why evolving SEC policy requires proactive transparency

• Why long-term success is built on adaptability, not just completion of a transaction

This final episode provides the mindset, structure, and expectations for thriving as a public company in a constantly shifting environment.

Connect With the Guest:

Michael Blankenship, Winston & Strawn LLP

LinkedIn: https://www.linkedin.com/in/mikeblankenship

Connect With the Host & The DESPAC Podcast:

Chaz Churchwell LinkedIn: https://www.linkedin.com/in/chazchurchwell/

YouTube Channel: www.youtube.com/@thedespacpodcast

THE DESPAC PODCAST STANDARD LEGAL 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 Smooth Stone Capital, 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.

Smooth Stone Capital and the DESPAC Podcast disclaim all liability arising from the use of or reliance on the information presented.

In this episode of The DESPAC Podcast Go Public Series, host Chaz Churchwell and SPAC attorney Michael Blankenship of Winston & Strawn break down the seventh step of the Go Public Framework: I – Institutionalizing Discipline.

Institutional discipline is the foundation of long-term public-company success. It includes regulatory compliance, governance structure, transparent reporting, investor communication rhythm, and continuous risk oversight.

Listeners will learn:

• Why discipline becomes the priority after the DESPAC transaction closes

• What SOX compliance means and why it exists

• Why internal audit controls and certified financial statements matter

• How reporting cadence builds investor confidence

• Why ongoing guidance from legal advisors remains essential

• How insurance and D&O audits ensure leadership protection

• How crypto-involved companies must maintain disciplined treasury oversight

• Why the public markets reward companies that embed discipline into culture and operations

This episode prepares leaders for the governance and reporting expectations of public-company life.

Connect With the Guest:

Michael Blankenship, Winston & Strawn LLP

LinkedIn: https://www.linkedin.com/in/mikeblankenship

Connect With the Host & The DESPAC Podcast:

Chaz Churchwell LinkedIn: https://www.linkedin.com/in/chazchurchwell/

YouTube Channel: www.youtube.com/@thedespacpodcast

THE DESPAC PODCAST STANDARD LEGAL 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 Smooth Stone Capital, 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.

Smooth Stone Capital and the DESPAC Podcast disclaim all liability arising from the use of or reliance on the information presented.

In this episode of The DESPAC Podcast Go Public Series, host Chaz Churchwell and SPAC attorney Michael Blankenship of Winston & Strawn walk through the sixth step of the Go Public Framework: L – List and Launch.

Listing day is the milestone many founders anticipate. But far from being just a celebration, it is a coordinated, highly visible event that sets the tone for how the market views your company.

Listeners will learn:

• What happens when the DESPAC deal closes and the stock begins trading

• How to coordinate market communications and internal messaging

• Why the first earnings report is one of the most important early milestones

• How to demonstrate alignment with earlier projections

• Why public-company execution starts immediately

• How crypto-involved companies must account for and disclose digital assets

• Why insurance activation and risk readiness matter at launch

• How transparency builds early investor trust

This episode prepares leaders for the operational and communication demands of debuting as a public company.

Connect With the Guest:

Michael Blankenship, Winston & Strawn LLP

LinkedIn: https://www.linkedin.com/in/mikeblankenship

Connect With the Host & The DESPAC Podcast:

Chaz Churchwell LinkedIn: https://www.linkedin.com/in/chazchurchwell/

YouTube Channel: www.youtube.com/@thedespacpodcast

THE DESPAC PODCAST STANDARD LEGAL 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 Smooth Stone Capital, 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.

Smooth Stone Capital and the DESPAC Podcast disclaim all liability arising from the use of or reliance on the information presented.

In this episode of The DESPAC Podcast Go Public Series, host Chaz Churchwell and SPAC attorney Michael Blankenship of Winston & Strawn break down the fifth step of the Go Public Framework: B – Building Market Trust.

Building market trust is one of the most important requirements for a successful DESPAC transaction. It is not enough to structure a strong deal. The market must believe in the company, the leadership, and the plan.

Listeners will learn:

• How executive teams prepare for analyst, investor, and media scrutiny

• Why clear and aligned messaging determines investor confidence

• The communication mistakes that drive redemption rates

• Why investors prioritize transparency, discipline, and execution

• How hype undermines trust and weakens public-market positioning

• Why crypto-involved companies must articulate risk, custody structure, and long-term strategy

• How disciplined communication builds credibility with institutional investors

This episode gives leaders the communication strategy required to maintain trust through the DESPAC process and into life as a public company.

Connect With the Guest:

Michael Blankenship, Winston & Strawn LLP

LinkedIn: https://www.linkedin.com/in/mikeblankenship

Connect With the Host & The DESPAC Podcast:

Chaz Churchwell LinkedIn: https://www.linkedin.com/in/chazchurchwell/

YouTube Channel: www.youtube.com/@thedespacpodcast

THE DESPAC PODCAST STANDARD LEGAL 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 Smooth Stone Capital, 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.

Smooth Stone Capital and the DESPAC Podcast disclaim all liability arising from the use of or reliance on the information presented.

In this episode of The DESPAC Podcast Go Public Series, host Chaz Churchwell and SPAC attorney Michael Blankenship of Winston & Strawn break down the fourth step of the Go Public Framework: U – Undergoing Diligence.

Diligence is the phase where every detail of your business is examined. This review includes legal compliance, financial accuracy, internal controls, risk disclosures, governance readiness, operational viability, and insurance structure. Your company must demonstrate clarity, accuracy, and transparency to satisfy SPAC partners, PIPE investors, auditors, and the SEC.

Listeners will learn:

• How diligence tests the entire foundation of the DESPAC

• What auditors, investors, and regulators focus on

• Why transparent disclosures and accurate projections determine trust

• How the S-4 filing becomes the public-facing roadmap of your business

• Why D&O insurance, tail coverage, and risk frameworks must be finalized pre-close

• What crypto-related companies must document to satisfy regulators

• How proactive preparation speeds up the SEC review process

• Why diligence is essential for a smooth transition toward going public

This episode gives leaders a clear understanding of what to expect and how to prepare for one of the most demanding parts of the DESPAC journey.

Connect With the Guest:

Michael Blankenship, Winston & Strawn LLP

LinkedIn: https://www.linkedin.com/in/mikeblankenship

Connect With the Host & The DESPAC Podcast:

Chaz Churchwell LinkedIn: https://www.linkedin.com/in/chazchurchwell/

YouTube Channel: www.youtube.com/@thedespacpodcast

THE DESPAC PODCAST STANDARD LEGAL 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 Smooth Stone Capital, 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.

Smooth Stone Capital and the DESPAC Podcast disclaim all liability arising from the use of or reliance on the information presented.

In this episode of The DESPAC Podcast Go Public Series, host Chaz Churchwell and SPAC attorney Michael Blankenship of Winston & Strawn unpack the third step of the Go Public Framework: P – Positioning the Deal.

Positioning determines how the market will perceive your company, your credibility, your economic structure, and your partnership fit. This step defines the trajectory of the entire DESPAC transaction.

Listeners will learn:

• Why positioning extends far beyond raising capital

• How to choose the right SPAC sponsor based on track record and sector expertise

• How deal economics shape investor outcomes

• Why realistic, disciplined projections matter to institutional buyers

• How to structure the narrative to establish trust rather than hype

• Why crypto treasury companies need enhanced disclosure on risk and custody

• How transparency can mitigate regulatory and investor concerns

This episode provides clarity for leaders preparing to shape their deal story and structure for a successful transition to the public markets.

Connect With the Guest:

Michael Blankenship, Winston & Strawn LLP

LinkedIn: https://www.linkedin.com/in/mikeblankenship

Connect With the Host & The DESPAC Podcast:

Chaz Churchwell LinkedIn: https://www.linkedin.com/in/chazchurchwell/

YouTube Channel: www.youtube.com/@thedespacpodcast

THE DESPAC PODCAST STANDARD LEGAL 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 Smooth Stone Capital, 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.

Smooth Stone Capital and the DESPAC Podcast disclaim all liability arising from the use of or reliance on the information presented.

In this episode of The DESPAC Podcast Go Public Series, host Chaz Churchwell and SPAC attorney Michael Blankenship of Winston & Strawn dive into the second step of the Go Public Framework: O – Organizing Advisors.

This conversation explains why selecting the right advisory team is one of the most important decisions a private company will make when pursuing a DESPAC transaction. From legal counsel to audit to risk management, every advisor influences deal speed, valuation, compliance, and the company’s long-term stability as a public entity.

Listeners will learn:

• Why advisors serve as the structural guardrails of a DESPAC deal

• How to engage securities counsel, audit, and investor relations early

• Why SPAC-specific legal expertise is essential

• How D&O, cyber, and crime insurance must be structured before any S-4 filing

• Why missing private D&O coverage creates serious litigation risk

• How to vet advisors based on experience and past deal quality

• What digital-asset companies must do to build compliant infrastructure

• How crypto-competent legal and compliance advisors avoid regulatory issues

This episode gives private-company leaders a clear roadmap for building the right advisory team before entering the public markets.

Connect With the Guest:

Michael Blankenship, Winston & Strawn LLP

LinkedIn: https://www.linkedin.com/in/mikeblankenship

Connect With the Host & The DESPAC Podcast:

Chaz Churchwell LinkedIn: https://www.linkedin.com/in/chazchurchwell/

YouTube Channel: www.youtube.com/@thedespacpodcast

THE DESPAC PODCAST STANDARD LEGAL 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 Smooth Stone Capital, 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.

Smooth Stone Capital and the DESPAC Podcast disclaim all liability arising from the use of or reliance on the information presented.

In this episode of The DESPAC Podcast Go Public Series, host Chaz Churchwell and SPAC attorney Michael Blankenship of Winston & Strawn take a deep look at the most important part of the DESPAC process: G – Getting Ready.

The discussion explains why internal readiness determines deal speed, valuation outcomes, and investor confidence. Michael breaks down the essential components that SPAC teams will examine during diligence and why companies must discover issues themselves before the SPAC does.

You will learn:

• Why internal self-audits protect valuation and timeline

• How to prepare financials, contracts, and cap tables for diligence

• Why public-company governance begins long before the transaction

• What it means to build an independent, credible board

• How to stress-test projections and avoid unrealistic growth forecasting

• Why disciplined projections are essential in today’s SPAC markets

• What companies must know about crypto treasuries and risk management

This episode gives private company leaders clear guidance on how to properly prepare for the DESPAC path and build credibility with investors and regulators.

Connect With the Guest:

Michael Blankenship, Winston & Strawn LLP

LinkedIn: https://www.linkedin.com/in/mikeblankenship

Connect With the Host & The DESPAC Podcast:

Chaz Churchwell LinkedIn: https://www.linkedin.com/in/chazchurchwell/

YouTube Channel: www.youtube.com/@thedespacpodcast

THE DESPAC PODCAST STANDARD LEGAL 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 Smooth Stone Capital, 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.

Smooth Stone Capital and the DESPAC Podcast disclaim all liability arising from the use of or reliance on the information presented.

In this kickoff episode of The DESPAC Podcast, host Chaz Churchwell welcomes Michael Blankenship of Winston & Strawn to unveil the Go Public Framework, a complete end-to-end system for private companies evaluating a DESPAC transaction.

The conversation covers every stage of the public-ready journey, from internal preparation and assembling your advisory bench to positioning your valuation, navigating diligence, building market trust, and preparing for life as a public company.

Listeners will learn:

• What private companies must do before entering SPAC discussions

• Why advisory structure determines deal speed and outcomes

• How to craft a compelling deal narrative

• What diligence teams look for and where companies get stuck

• How to communicate effectively with analysts and investors

• What happens at listing and launch

• Why governance, reporting, and operational discipline drive long-term success

• How public companies adapt as markets shift

This episode offers actionable, practical guidance for CEOs, CFOs, founders, and investors evaluating whether a DESPAC is the right path.

Connect With the Guest:

Michael Blankenship, Winston & Strawn LLP

LinkedIn: https://www.linkedin.com/in/mikeblankenship

Connect With the Host & The DESPAC Podcast:

Chaz Churchwell LinkedIn: https://www.linkedin.com/in/chazchurchwell/

YouTube Channel: www.youtube.com/@thedespacpodcast

THE DESPAC PODCAST STANDARD LEGAL 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 Smooth Stone Capital, 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.

Smooth Stone Capital and the DESPAC Podcast disclaim all liability arising from the use of or reliance on the information presented.