2025 SPAC Market Review and 2026 Outlook, with Ed Kovary and Jerry Serowik
SPACInsider24 Joulu 2025

2025 SPAC Market Review and 2026 Outlook, with Ed Kovary and Jerry Serowik

In this episode, we examine how the SPAC market evolved in 2025 and what sponsors, issuers, and investors should be thinking about as the calendar turns to 2026.

Joining the discussion are Ed Kovary, Head of Capital Markets at BTIG, and Jerry Serowik, Head of Capital Markets at Cohen & Company, two firms that were among the most active in the SPAC ecosystem in 2025.

Drawing on firsthand experience, the conversation covers how deal structures, investor expectations, and sponsor strategies shifted over the course of the year and how capital markets conditions shaped issuance and deal execution.

The episode concludes with a forward-looking discussion on what these trends imply for SPAC activity in 2026, including where opportunities may emerge and what risks remain for the asset class.

Jaksot(100)

General Fusion’s Greg Twinney and Spring Valley III’s Chris Sorrells on Their $724M Fusion Deal

General Fusion’s Greg Twinney and Spring Valley III’s Chris Sorrells on Their $724M Fusion Deal

This week, we speak with Greg Twinney, CEO of General Fusion, and Chris Sorrells, CEO and Chairman of Spring Valley Acquisition Corp. III (NASDAQ:SVAC). The two announced a $724 million combination in...

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Inside Key Mining’s $303M deal with Compass Digital Acquisition Corp.

Inside Key Mining’s $303M deal with Compass Digital Acquisition Corp.

Titanium, copper and water. What do they have in common? All will be products of one of the latest companies to head to the public markets via a SPAC transaction. This week, we speak with Key Mining f...

20 Huhti 30min

Adam Back and Sean Bill on Bitcoin Standard Treasury’s $4bn Deal with CEPO

Adam Back and Sean Bill on Bitcoin Standard Treasury’s $4bn Deal with CEPO

The past year has seen a raft of crypto treasury companies go public via SPACs. Could the next entrant be the one to consolidate the field? This week, we speak with Adam Back, CEO of Bitcoin Standard ...

1 Huhti 29min

Building the Defense Backbone: Precision Aerospace & Defense and FACT II Acquisition Corp.

Building the Defense Backbone: Precision Aerospace & Defense and FACT II Acquisition Corp.

The work of maintaining and supplying the US armed forces is now front and center in the daily news, but Precision Aerospace & Defense has been long been carrying out a strategy to acquire critical ma...

20 Maalis 27min

Horizon Quantum and dMY Squared (DMYY) on Building the Quantum Tech Stack

Horizon Quantum and dMY Squared (DMYY) on Building the Quantum Tech Stack

SPACs have populated the public markets with a variety of quantum computing hardware technology companies, and now one is poised to list the first quantum software company. This week, we speak with Dr...

9 Maalis 36min

Maximilian Martin on The Enhanced Games, Where Banned Substances Are the Point

Maximilian Martin on The Enhanced Games, Where Banned Substances Are the Point

The Winter Olympics and the World Cup are not the only international competitions kicking off this year. The Enhanced Games is gearing up for a May debut as well, with the injection of some SPAC cash ...

4 Maalis 43min

Podcast REPLAY: D-Wave, SPACs, and the Quantum Revival

Podcast REPLAY: D-Wave, SPACs, and the Quantum Revival

Quantum computing companies have been among the highest performing de-SPAC sectors in years. And, SPACs have made a major impact on quantum computing by being the listing and financing mechanism for a...

25 Helmi 26min

Dr. Christian Weedbrook and Bill Fradin on Xanadu’s $3.1B Quantum SPAC Deal

Dr. Christian Weedbrook and Bill Fradin on Xanadu’s $3.1B Quantum SPAC Deal

This week, we speak with Xanadu founder and CEO Dr. Christian Weedbrook and Bill Fradin, CEO of Crane Harbor Acquisition Corp. (NASDAQ:CHAC). The two announced a $3.1 billion business combination in N...

12 Helmi 27min

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