In this episode of The SPAC Podcast, co-host Mike Blankenship sits down with James Graff, CEO of Graff Global Corp and a veteran SPAC sponsor who’s been active in the space for over 14 years. James shares how he transitioned from a 20-year career in investment banking to leading SPAC transactions—having now participated in eight as a sponsor or director.

He recounts his early exposure to SPACs while working at MGM Studios during its financial restructuring and reflects on what drew him to the structure as a capital markets tool. The conversation offers firsthand insight into the evolution of the SPAC ecosystem, the lessons learned across multiple cycles, and how experienced sponsors think about strategy, execution, and team alignment.

👉 To learn more or connect with us, visit TheSPACPodcast.com

#SPACPodcast

#JamesGraff

#SPACSponsor

#CapitalMarkets

#InvestmentBanking

#MGMStudios

#IPOInsights

After the historic SPAC boom of 2020–2021 and a cooling period that followed, 2025 is seeing renewed interest in the SPAC model. In this episode of The SPAC Podcast, Mike and Derek discuss why the market is turning back to SPACs as a viable capital formation pathway.

Many SPACs from the boom years ultimately liquidated, returning billions in capital to investors. With the traditional IPO window still slow to reopen, that capital is now looking for new deployment vehicles—and SPACs are regaining attention. This conversation explores what’s changed in the landscape, how investor sentiment is shifting, and why SPACs may continue to play a meaningful role in public market access moving forward.

👉 Learn more or connect with the team at TheSPACPodcast.com

#SPACs

#CapitalMarkets

#IPOMarket

#SPAC2025

#PublicMarkets

#InvestorRelations

#CapitalDeployment

Derek is a Partner at Centri Business Consulting and the leader of the firm’s SEC, Financial Reporting & SPAC Practice. He has more than 25 years of accounting experience in both public and private industries. He joined Centri in September 2020 and has focused on Securities and Exchange Commission (“SEC”) rules and regulations, recurring public company SEC filings, IPO registration statements, business combination filings and pro forma financial statements as well as private company IPO readiness activities and strategies. Additionally, he has significant experience with both domestic and international public filers in the technology, media, and telecommunications sectors, the mining industry, life sciences, merchant services, as well as experience in the cannabis industry and manufacturing.

Prior to his time with Centri, Derek oversaw the reporting and technical accounting functions at Mile High Labs, an international cannabinoid and CBD product manufacturer. He also successfully operated an independent consulting business for four years.

Derek has held management positions at multiple Fortune 250 companies, as well as a public gold exploration company, overseeing SEC reporting and technical accounting functions. Derek began his career with Deloitte, where he spent six years in the audit and assurance practice.

He received his B.S. in Accounting and Finance from The Kelley School of Business at Indiana University in Bloomington, IN. He is a Certified Public Accountant in the state of Colorado.

Connect with Derek on LinkedIn -

https://www.linkedin.com/in/derek-kearns-cpa-a897265/

While the promote is often the most discussed form of compensation for SPAC sponsors, it’s not the only one. In this episode of The SPAC Podcast, we take a closer look at additional forms of sponsor compensation that may exist around a transaction.

Private placement warrants, expense reimbursements, success fees, or even advisory roles post-close are all possible components. These forms of compensation are not uncommon, but transparency around them is critical. The SEC has emphasized the importance of clear and complete disclosure so that investors can fully understand how sponsor incentives are structured.

👉 Want more clarity on SPAC structures? Visit TheSPACPodcast.com to learn more or contact us.

#SPACs

#SPACSponsor

#CapitalMarkets

#SponsorCompensation

#SPACPromote

#InvestorTransparency

#IPOInsights

Co-sponsorships are becoming more common in the SPAC world—but are they effective? In this episode of The SPAC Podcast, we explore how co-sponsor structures are being used to combine financial backing with operational depth.

When roles are clearly defined and trust is strong, co-sponsors can complement each other—pairing institutional capital with industry expertise or leadership experience. But like any partnership, success depends on clarity, alignment, and communication. We’ll break down common structures, potential benefits, and what we’re seeing work well in today’s market.

👉 Learn more or get in touch at TheSPACPodcast.com

#SPACs

#SPACSponsors

#CoSponsorship

#CapitalMarkets

#IPOProcess

#InvestorEducation

#TeamStrategy

Not every SPAC reaches the finish line, and sponsors face a wide range of challenges along the way. In this episode of The SPAC Podcast, we explore patterns we’re seeing in the market that could impact a sponsor’s ability to successfully complete a transaction.

From sourcing high-quality deals to managing the timing of the de-SPAC process, several factors come into play. Sponsors navigating heightened SEC scrutiny, PIPE investor expectations, and target company trust-building all face real-time stress tests. Experience, alignment, and disciplined execution can all influence outcomes—and understanding these dynamics is key to navigating today’s SPAC landscape.

👉 For more insights or to connect, visit TheSPACPodcast.com

#SPACs

#SPACSponsor

#CapitalMarkets

#DeSPAC

#PIPEInvestors

#IPOProcess

#InvestorTrust

Launching a SPAC starts long before the IPO hits the market. Sponsors make foundational decisions that shape the deal’s structure—and its reception by investors. In this episode of The SPAC Podcast, we explore the key elements that go into structuring a SPAC.

From unit composition and warrant coverage to IPO size and trust account terms, each choice could influence investor appetite, redemption risk, and overall market flexibility. Selecting the right legal, audit, and underwriting partners also plays a critical role. These decisions represent a sponsor’s first big test in preparing for a successful public launch.

👉 Explore more insights or reach out to our team at TheSPACPodcast.com

#SPACs

#SPACStructure

#CapitalMarkets

#IPOProcess

#InvestmentBanking

#SPACSponsor

#IPOInsights

In the SPAC process, securing a PIPE—Private Investment in Public Equity—is a key step in bringing a deal across the finish line. PIPE investors not only provide essential capital but also help validate the target company’s value and strengthen market credibility.

Today’s PIPE investors perform rigorous diligence and seek transparency from sponsors. Successfully raising a PIPE reflects confidence in both the sponsor and the transaction, and often serves as a real-time measure of the sponsor’s ability to navigate complex deal execution. We’re seeing this dynamic play out in many successful SPAC transactions today.

👉 Learn more or connect with our team at TheSPACPodcast.com