In this episode, Monica Nayar and Mike Bellin join Eric Watson to discuss special purpose acquisition companies (SPACs), which are generating a lot of activity in the market. They explain the complexities and challenges and the actions that should be considered as companies navigate towards successful mergers when looking to go public.
We discuss the following questions:
0:50 - How does a SPAC work?
2:15 - What are the advantages of a SPAC for a private company?
2:49 - How is the merger timeline impacted in this process and what are the challenges companies are facing due to this?
6:46 - What are the control challenges in SPAC transactions?
8:56 - How are technology and analytics helping companies move through SPAC mergers?
12:13 - What are the first steps when a company is looking to undertake this transaction?
Eric Watson is a Director at PwC within the Deals practice based in the San Francisco Bay Area. Eric enjoys advising clients through transformative events and is a seasoned professional with significant international experience. He specializes in providing technical and project management advice with IPOs, M&A, carve-outs/spin-offs, and complex accounting topics under US GAAP and SEC reporting requirements.
Monica Nayar is a Partner in PwC's Digital Risk Solutions practice with 20 years of experience serving large multinational public companies across various sectors. She delivers value to clients by providing pragmatic solutions balanced with creative flexibility to save clients time and money. Her leadership of several complex consulting engagements ensured companies successfully executed on their strategies and imperatives.
Mike Bellin is a PwC Partner, PwC’s National Capital Raise Leader, and leads PwC's Capital Markets and Accounting Advisory Services practice in PwC's Southwest market. Mike advises clients on accessing the debt and equity capital markets, by providing clients with technical/project management advice on complex accounting and financial reporting issues associated with the SEC registration process, IPO's, SPAC mergers, 144A debt and equity offerings, divestitures, spin-offs and carve-outs, and GAAP conversions. As a seasoned deal adviser, Mike has served as the lead advisor numerous IPO's, SPAC mergers, spin-offs, carve outs, GAAP conversions and other capital markets/complex accounting transactions.
Partner, Digital Risk Solutions, PwC US
IPO Services Co-Leader, PwC US