Most first-time SPAC sponsors underestimate what a background check actually uncovers — and what it costs them when something surfaces after the S-1 is filed.

James Tunkey is a background check and fraud investigation specialist with deep experience in international due diligence for SPAC IPOs and capital markets transactions. His firm handles approximately 25% of Nasdaq issuances and 40% of Hong Kong Stock Exchange listings annually. In this episode, James joins Michael Blankenship to break down what a rigorous director and officer vetting process looks like — from regulatory sanction screening and negative media searches to cross-border verification challenges and the role AI is beginning to play. Essential listening for sponsors, underwriters, and counsel navigating the SPAC IPO process.

🎯 What We Cover:

• Why identity verification is the critical first layer of any D&O background check
• FINRA and SEC sanction screening — what gets flagged and what it means
• How civil and criminal litigation history is sourced and evaluated
• Education and employment verification: when phone calls still matter
• International due diligence: name localization, foreign databases, and privacy law gaps
• Turnaround timelines — what to expect in the US vs. cross-border engagements
• Real examples: Ponzi schemes caught before listing, directors quietly replaced
• How AI is accelerating negative media screening without replacing human investigators
• Who typically engages the background check firm — issuer, underwriter, or counsel
• What the final report looks like and how risk ratings are assigned

🤝 Connect with James Tunkey: 🌐 https://www.ionasia.com.hk/team/james-tunkey/ 💼 https://www.linkedin.com/in/jamestunkey/

📩 Connect with Michael Blankenship: 💼 https://www.linkedin.com/in/mikeblankenship/ 🌐 https://www.thespacpodcast.com/

📩 Connect with Joshua Wilson: 💼 https://www.linkedin.com/in/joshuabrucewilson/ 🌐 https://www.thespacpodcast.com/

🎙️ Follow The SPAC Podcast: 🌐 https://www.thespacpodcast.com/ ▶️ https://www.youtube.com/@thespacpodcast

Disclaimer: Michael J. Blankenship is a licensed attorney and partner at Winston Taylor. Joshua Wilson is a licensed Florida real estate broker and holds FINRA Series 79 and Series 63 licensure. The content of this podcast is for informational and educational purposes only and should not be considered legal, financial, or compliance advice. All views and opinions expressed by the hosts and guests are their own and do not necessarily reflect the policies or positions of any regulatory agency, law firm, organization, or employer. Listeners should consult their own legal counsel, compliance teams, or financial advisors to ensure adherence to applicable regulations, including SEC, FINRA, and other industry-specific requirements. This podcast does not constitute a solicitation or recommendation for any financial products or services.

Let's Connect on LinkedIn: 

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

To Contact Us, Please Visit: 

https://www.TheSPACPodcast.com/contact/

Not all PIPE capital is created equal — and the wrong money can destroy a de-SPAC before it ever has a chance to perform.

Steve Kann has spent 30 years in small cap investment banking — founding companies, running funds, and advising on capital formation across PIPE financings, IPOs, M&A, and de-SPAC transactions. As Head of US Investment Banking at Arc Stone Securities and Partner at Ocean Street Partners, Steve brings a practitioner's lens to one of the most misunderstood decisions a SPAC sponsor makes: who you let into your deal and when.

In this episode, Steve breaks down why hedge fund arb money and family office capital produce different post-combination outcomes — and how pricing determines which investors you can attract. He also shares why most de-SPAC management teams fail to recognize they now have two products to sell, and what that blind spot costs them in aftermarket performance.

🎯 What We Cover:

• Why hedge funds are structurally misaligned with de-SPAC success
• How family office capital functions as sticky, partnership-oriented money
• When retail capital enters the picture — and what that signals
• Why de-SPAC CEOs underestimate the equity story as a second product to sell
• How inefficient markets create mispricing in small and microcap names
• SPAC vs. direct listing vs. IPO vs. reverse merger — when each makes sense
• The cross-border complexity sponsors routinely underestimate
• Why toxic capital structures leave companies with no second chance to raise

The SPAC Bootcamp - https://www.linkedin.com/feed/update/urn:li:activity:7447383788864778241/?utm_source=share&utm_medium=member_desktop&rcm=ACoAAAkIjyYBAXZAMcq5y4Coph2bOaN-KqTsMvY

🤝 Connect with Steve Kann: 🌐 https://www.arcstoneglobalsecurities.com 💼 https://www.linkedin.com/in/stephenkann/

📩 Connect with Michael Blankenship: 💼 https://www.linkedin.com/in/mikeblankenship/ 🌐 https://www.thespacpodcast.com/

📩 Connect with Joshua Wilson: 💼 https://www.linkedin.com/in/joshuabrucewilson/ 🌐 https://www.thespacpodcast.com/

🎙️ Follow The SPAC Podcast: 🌐 https://www.thespacpodcast.com/ ▶️ https://www.youtube.com/@thespacpodcast

Disclaimer: Michael J. Blankenship is a licensed attorney and partner at Winston Taylor. Joshua Wilson is a licensed Florida real estate broker and holds FINRA Series 79 and Series 63 licensure. The content of this podcast is for informational and educational purposes only and should not be considered legal, financial, or compliance advice. All views and opinions expressed by the hosts and guests are their own and do not necessarily reflect the policies or positions of any regulatory agency, law firm, organization, or employer. Listeners should consult their own legal counsel, compliance teams, or financial advisors to ensure adherence to applicable regulations, including SEC, FINRA, and other industry-specific requirements. This podcast does not constitute a solicitation or recommendation for any financial products or services.

Let's Connect on LinkedIn: 

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

To Contact Us, Please Visit: 

https://www.TheSPACPodcast.com/contact/

Every SPAC sponsor thinks their pitch stands out. Christine McNerney has seen them all — and most don't.

Christine McNerney, Associate Portfolio Manager at Periscope Capital, has been with the firm since 2012 and focused on SPACs since 2021 — from testing the waters through selective PIPE financing. Periscope itself has been active in the SPAC market since 2016.  In this episode, she breaks down exactly what separates fundable sponsor teams from forgettable ones, how Periscope evaluates de-SPAC targets, why the current market is healthier than it looks, and what private companies need to understand before going public via a blank check company. For SPAC sponsors, PIPE investors, and de-SPAC operators navigating today's capital markets landscape, this is an unfiltered look at how decisions actually get made.

🎯 What We Cover:

• What sponsor teams consistently get wrong in testing the waters meetings
• How to articulate deal criteria beyond generic talking points
• The ideal sponsor profile — operators vs. dealmakers and why both matter
• Geographic scope: why non-US targets carry additional risk and scrutiny
• What Periscope looks for first when evaluating a de-SPAC opportunity
• Why equity coverage and peer set matter more than most targets realize
• How the SPAC process gives companies a valuation edge over a traditional ECM IPO
• Lessons from 2020–2021 and what's fundamentally different in today's market
• Why repeat sponsors now represent nearly 70% of SPAC IPOs — and what that signals
• Advice for de-SPAC companies struggling with post-combination stock performance

🤝 Connect with Christine McNerney: 💼 https://www.linkedin.com/in/christine-mcnerney/ 🌐 https://periscopecapital.com/

📩 Connect with Michael Blankenship: 💼 https://www.linkedin.com/in/mikeblankenship/ 🌐 https://www.thespacpodcast.com/

📩 Connect with Joshua Wilson: 💼 https://www.linkedin.com/in/joshuabrucewilson/ 🌐 https://www.thespacpodcast.com/

🎙️ Follow The SPAC Podcast: 🌐 https://www.thespacpodcast.com/ ▶️ https://www.youtube.com/@thespacpodcast

Disclaimer: Michael J. Blankenship is a licensed attorney and partner at Winston Taylor. Joshua Wilson is a licensed Florida real estate broker and holds FINRA Series 79 and Series 63 licensure. The content of this podcast is for informational and educational purposes only and should not be considered legal, financial, or compliance advice. All views and opinions expressed by the hosts and guests are their own and do not necessarily reflect the policies or positions of any regulatory agency, law firm, organization, or employer. Listeners should consult their own legal counsel, compliance teams, or financial advisors to ensure adherence to applicable regulations, including SEC, FINRA, and other industry-specific requirements. This podcast does not constitute a solicitation or recommendation for any financial products or services.

Let's Connect on LinkedIn: 

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

To Contact Us, Please Visit: 

https://www.TheSPACPodcast.com/contact/

ClearThink Capital structured their SPAC IPO with closing fees under $2 million — at a time when most sponsors are paying $10 to $15 million. Bob Brown helped write the SEC rules that govern SPACs back in 1991. Here's what he and Ari built differently.

Robert "Bob" Brown and Ari Brown, Managing Directors of ClearThink Capital, join Michael Blankenship on The SPAC Podcast to break down what separates a well-structured blank check company from one that's already compromised before a target is ever found. Bob brings over three decades of securities and M&A law experience — including working on the very first SPAC in 1991 and helping the SEC write the rules that govern the structure today. Together, Bob and Ari walk through how ClearThink designed their own SPAC IPO to minimize sponsor-side closing costs, why "deal dementia" quietly kills more transactions than bad targets do, what private companies consistently get wrong when preparing for a de-SPAC, and how the current SEC environment and new administration are reshaping cross-border SPAC deal flow.

🎯 What We Cover:

• How ClearThink structured their SPAC to keep closing fees under $2M vs. the $10–15M industry norm
• Why sponsors must differentiate on deal quality — not just sector focus
• The "deal dementia" trap: how sponsors drift from sound valuation discipline over time
• What private companies consistently miss in audit readiness and PCAOB compliance before a de-SPAC
• Cross-border de-SPAC complexity: double dummy structures, multi-jurisdiction regulatory regimes
• NASDAQ vs. NYSE: what the data actually shows vs. sponsor perception
• The S-1 review delay caused by the government shutdown — and how to plan around process risk
• Why cadence and timeline discipline matter more than most first-time sponsors expect

🤝 Connect with Bob Brown & Ari Brown: 🌐 https://www.clearthinkcapital.com

📩 Connect with Michael Blankenship: 💼 https://www.linkedin.com/in/mikeblankenship/ 🌐 https://www.thespacpodcast.com/

📩 Connect with Joshua Wilson: 💼 https://www.linkedin.com/in/joshuabrucewilson/ 🌐 https://www.thespacpodcast.com/

🎙️ Follow The SPAC Podcast: 🌐 https://www.thespacpodcast.com/ ▶️ https://www.youtube.com/@thespacpodcast

Disclaimer: Michael J. Blankenship is a licensed attorney and partner at Winston Taylor. Joshua Wilson is a licensed Florida real estate broker and holds FINRA Series 79 and Series 63 licensure. The content of this podcast is for informational and educational purposes only and should not be considered legal, financial, or compliance advice. All views and opinions expressed by the hosts and guests are their own and do not necessarily reflect the policies or positions of any regulatory agency, law firm, organization, or employer. Listeners should consult their own legal counsel, compliance teams, or financial advisors to ensure adherence to applicable regulations, including SEC, FINRA, and other industry-specific requirements. This podcast does not constitute a solicitation or recommendation for any financial products or services.

Let's Connect on LinkedIn: 

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

To Contact Us, Please Visit: 

https://www.TheSPACPodcast.com/contact/

Valuation is one of the most critical and misunderstood aspects of any SPAC transaction.

In this clip, Michael Blankenship and Delon Turner discuss why valuation is not a fixed formula, but a negotiated outcome that must balance regulatory requirements, market expectations, and long-term performance.

Delon explains that while exchanges set minimum thresholds, the real challenge is finding a valuation that can hold up under public market scrutiny. He emphasizes that success is less about hitting a specific number and more about ensuring the leadership team is prepared to operate as a public company.

The conversation highlights a key principle: valuation may get the deal done, but execution determines whether it holds.

Disclaimer: Michael J. Blankenship is a licensed attorney and partner at Winston Taylor. Joshua Wilson is a licensed Florida real estate broker and holds FINRA Series 79 and Series 63 licensure. The content of this podcast is for informational and educational purposes only and should not be considered legal, financial, or compliance advice. All views and opinions expressed by the hosts and guests are their own and do not necessarily reflect the policies or positions of any regulatory agency, law firm, organization, or employer. Listeners should consult their own legal counsel, compliance teams, or financial advisors to ensure adherence to applicable regulations, including SEC, FINRA, and other industry-specific requirements. This podcast does not constitute a solicitation or recommendation for any financial products or services.

Let's Connect on LinkedIn: 

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

To Contact Us, Please Visit: 

https://www.TheSPACPodcast.com/contact/

Welcome to another episode of SPAC Updates, a recurring series on the SPAC Podcast where we break down the latest activity shaping the SPAC market.

In this episode, hosts Josh Wilson and Michael Blankenship discuss the current state of the SPAC ecosystem, including the growing number of SPACs searching for targets and how that dynamic is shifting leverage across the market.

With more than 220 SPACs actively seeking merger targets and over 105 announced business combinations, the pipeline remains strong, but the imbalance between new issuance and completed deals is creating new dynamics for investors and private companies alike.  

Michael shares insights on:

• Why the increase in SPAC supply is giving investors more negotiating power

• How private companies can benefit from evaluating multiple SPAC partners

• The role private equity and family offices are playing in today’s SPAC ecosystem

• Why portfolio companies backed by PE or VC firms may consider SPAC mergers as an exit strategy

• The importance of preparation and experienced advisors when entering a SPAC transaction

The conversation also explores how market structure changes are influencing deal terms, including shorter SPAC timelines, evolving warrant structures, and the growing need for sponsors to differentiate themselves.

If you’re an investor, founder, or advisor watching the SPAC market, this episode provides a timely snapshot of where the ecosystem stands and where it may be heading.

Disclaimer: Michael J. Blankenship is a licensed attorney and partner at Winston Taylor. Joshua Wilson is a licensed Florida real estate broker and holds FINRA Series 79 and Series 63 licensure. The content of this podcast is for informational and educational purposes only and should not be considered legal, financial, or compliance advice. All views and opinions expressed by the hosts and guests are their own and do not necessarily reflect the policies or positions of any regulatory agency, law firm, organization, or employer. Listeners should consult their own legal counsel, compliance teams, or financial advisors to ensure adherence to applicable regulations, including SEC, FINRA, and other industry-specific requirements. This podcast does not constitute a solicitation or recommendation for any financial products or services.

Let's Connect on LinkedIn: 

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

To Contact Us, Please Visit: 

https://www.TheSPACPodcast.com/contact/

Going public is one of the most important decisions a founder can make. But choosing the right path to the public markets is just as critical as the decision itself.

In this interview, host Michael Blankenship sits down with Peter Wright, founder of McKinley SPAC and a longtime capital markets advisor with experience across more than 30 SPAC transactions.

Peter shares insights from his career as both a sell-side and buy-side research analyst before entering the SPAC market during its early growth phase. He explains why founders evaluating a path to the public markets should consider SPAC mergers alongside traditional IPOs.

The conversation explores how SPACs provide founders with deal certainty, valuation certainty, and capital certainty while potentially reducing the timeline to becoming a public company. Peter also addresses common misconceptions about SPACs, how dilution works in these transactions, and why capital market strategy is critical to long-term success after the listing.

Peter also shares how his team evaluates target companies, the industries they believe are positioned for growth, and why sectors such as space technology, fintech, and EV mobility are attracting significant attention.

If you’re a founder considering the public markets, or an investor interested in the evolution of the SPAC ecosystem, this conversation offers a practical look at how deals are evaluated and structured today.

Disclaimer: Michael J. Blankenship is a licensed attorney and partner at Winston Taylor. Joshua Wilson is a licensed Florida real estate broker and holds FINRA Series 79 and Series 63 licensure. The content of this podcast is for informational and educational purposes only and should not be considered legal, financial, or compliance advice. All views and opinions expressed by the hosts and guests are their own and do not necessarily reflect the policies or positions of any regulatory agency, law firm, organization, or employer. Listeners should consult their own legal counsel, compliance teams, or financial advisors to ensure adherence to applicable regulations, including SEC, FINRA, and other industry-specific requirements. This podcast does not constitute a solicitation or recommendation for any financial products or services.

Let's Connect on LinkedIn: 

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

To Contact Us, Please Visit: 

https://www.TheSPACPodcast.com/contact/

One of the biggest emerging sectors in SPAC markets today? Data centers.

In this clip; Michael J. Blankenship and Delon Turner highlights how the rapid growth of AI and cloud infrastructure is reshaping capital markets.

Investors are increasingly evaluating opportunities based on future potential rather than current revenue.

Data center infrastructure is one example where land and location alone can create massive value because of growing demand from AI and cloud computing.

The capital markets are increasingly asking a single question:

What is the long-term potential of this company’s trajectory?

In many cases, that potential is driving deal activity across the SPAC market.

Disclaimer: Michael J. Blankenship is a licensed attorney and partner at Winston Taylor. Joshua Wilson is a licensed Florida real estate broker and holds FINRA Series 79 and Series 63 licensure. The content of this podcast is for informational and educational purposes only and should not be considered legal, financial, or compliance advice. All views and opinions expressed by the hosts and guests are their own and do not necessarily reflect the policies or positions of any regulatory agency, law firm, organization, or employer. Listeners should consult their own legal counsel, compliance teams, or financial advisors to ensure adherence to applicable regulations, including SEC, FINRA, and other industry-specific requirements. This podcast does not constitute a solicitation or recommendation for any financial products or services.

Let's Connect on LinkedIn: 

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

To Contact Us, Please Visit: 

https://www.TheSPACPodcast.com/contact/

What makes a company the ideal SPAC target today?

According to venture investor Delon Turner, the answer is increasingly tied to technology.

In this clip, Delon talks with host Michael J. Blankenship and explains that while FinTech and software dominated the 2021 cycle, today’s SPAC targets are shifting toward:
• Artificial intelligence
• Machine learning technologies
• Data center infrastructure
• Software platforms supporting emerging tech ecosystems

Institutional investors are looking for sectors that can sustain long term growth and maintain stock performance after listing.

The key question investors ask: Does this company operate in a sector with enough momentum to deliver long term shareholder value?

Disclaimer: Michael J. Blankenship is a licensed attorney and partner at Winston Taylor. Joshua Wilson is a licensed Florida real estate broker and holds FINRA Series 79 and Series 63 licensure. The content of this podcast is for informational and educational purposes only and should not be considered legal, financial, or compliance advice. All views and opinions expressed by the hosts and guests are their own and do not necessarily reflect the policies or positions of any regulatory agency, law firm, organization, or employer. Listeners should consult their own legal counsel, compliance teams, or financial advisors to ensure adherence to applicable regulations, including SEC, FINRA, and other industry-specific requirements. This podcast does not constitute a solicitation or recommendation for any financial products or services.

Let's Connect on LinkedIn: 

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

To Contact Us, Please Visit: 

https://www.TheSPACPodcast.com/contact/

The SPAC market of 2026 looks very different than the SPAC boom of 2021.

In this clip, Delon Turner explains how the market has evolved since the SPAC surge several years ago.

During the peak cycle, there were more SPACs chasing deals than there were viable companies to take public. That imbalance created what many now call the SPAC bubble.

Since then, several things have changed:

• Stronger regulation

• More disciplined sponsor teams

• Greater scrutiny from investors

• Better alignment between sponsors and targets

Today, experienced capital markets professionals are returning to the SPAC market with a more disciplined approach.

The result is a healthier ecosystem for identifying strong companies and creating long-term shareholder value.

Disclaimer: Michael J. Blankenship is a licensed attorney and partner at Winston Taylor. Joshua Wilson is a licensed Florida real estate broker and holds FINRA Series 79 and Series 63 licensure. The content of this podcast is for informational and educational purposes only and should not be considered legal, financial, or compliance advice. All views and opinions expressed by the hosts and guests are their own and do not necessarily reflect the policies or positions of any regulatory agency, law firm, organization, or employer. Listeners should consult their own legal counsel, compliance teams, or financial advisors to ensure adherence to applicable regulations, including SEC, FINRA, and other industry-specific requirements. This podcast does not constitute a solicitation or recommendation for any financial products or services.

Let's Connect on LinkedIn: 

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

To Contact Us, Please Visit: 

https://www.TheSPACPodcast.com/contact/