The SPAC Podcast
🎙️ 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
🔔 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.
The SPAC Podcast
How He Evaluates and Structures SPAC Deals
Chris Sorrells explains his disciplined approach to evaluating and structuring SPAC transactions. From prioritizing unique assets to ensuring two years of cash at close, Chris outlines what separates lasting companies from overhyped deals.
Guest: Chris Sorrells – Chairman and CEO of Spring Valley
Connect with Chris: https://www.linkedin.com/in/chris-sorrells-5a6a836/
Let’s Connect on LinkedIn:
👉 Michael J. Blankenship - https://www.linkedin.com/in/mikeblankenship/
👉 Joshua Bruce Wilson - https://www.linkedin.com/in/joshuabrucewilson/
To Contact Us or Collaborate:
🎙️ https://www.TheSPACPodcast.com/contact/
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 informational purposes only and should not be construed as investment, legal, tax, or accounting advice.
Michael J. Blankenship is a licensed attorney and is a partner at Winston & Strawn LLP. Joshua Wilson is a licensed Florida real estate broker and holds FINRA Series 79 and Series 63 licensure. The content of this podcast is intended for informational and educational purposes only and should not be interpreted as legal, financial, or compliance advice. The views and opinions expressed by the hosts and guests are their own and do not necessarily reflect the official policies or positions of any regulatory agency, law firm, employer, or organization.
Listeners are encouraged to consult their own legal counsel, compliance professionals, or financial advisors to ensure adherence to applicable laws and regulations, including those enforced by the SEC, FINRA, and other regulatory bodies. This podcast does not constitute a solicitation, offer, or recommendation of any financial products, securities transactions, or legal services.
Let’s Connect on LinkedIn:
👉 Michael J. Blankenship - https://www.linkedin.com/in/mikeblankenship/
👉 ...
Mike Blankenship: So Chris, you've now taken multiple companies public through Spring Valley across some various different market conditions. We've seen ups and downs.
How has your approach to evaluating and structuring deals changed since your very first spac?
Chris Sorrells: Not a lot. Our focus has always been on trying to bring unique assets into the public markets. Ideally, first movers. Or a quick second deals in which they're 10 or 20 or 30 publicly traded companies aren't really a focus for us.
We, we really pride ourselves on uniqueness and we've been able to do that in our first two deals. In addition, we are very, focused on properly funding these companies two years plus a cash at close guaranteed. One of the flaws we see within the SPAC market is undercapitalization. I think that has led to underperformance.
So we're laser focused on that. Very focused on fair value. I think that's another thing that has harmed the SPAC market. Overvaluation sponsors not, getting that component correct in the front side. Very focused on having good advisors, lawyers, accountants lots of deals get hung up.
People that are not in the product day to day. It's a complex product. And so having subject matter experts seem to enable smoother execution. And we've had that in both of our first two deals. We filed, or S four within three weeks from announcement. Certainly look for, strong characteristics within the companies, the IP barriers, the moat, so to speak.
Very focused on competent teams. Teams that are not only competent and skilled, but teams that know how to make money and teams that know how to take advice. So those are things that have always been core to us. I think in the first wave, in the 2020 timeframe, you might have been able to count on a brief moment some of the trust.
I think as we've evolved, you have to be very careful about counting on trust to fund company. Post-close redemptions are still relatively high. There's still a lot of volatility in and around the redemption number, so we're very focused on either having cash on hand and or pipe to backstop, redemptions, and then the redemptions if they're low and we've had low redemptions in both of our first two deals that's just icing on the cake.