Avoiding Costly Mistakes in SPAC Deals
In this episode of The SPAC Podcast, Mohammad Hasham, Partner and West Region Leader for Capital Markets & IPO at CohnReznick, shares best practices for sponsors and management teams considering a SPAC transaction. He emphasizes the importance of engaging experienced advisors early in the process, rather than waiting until issues arise during audits.
Mohammad explains how hiring the right accounting advisors, auditors, and legal counsel with SEC reporting experience can prevent costly mistakes, streamline the process, and create smoother outcomes for sponsors. His perspective highlights the value of preparation and expertise from the start.
Connect with the Guest:
Mohammad Hasham – Partner, Capital Markets & IPO, CohnReznick
Podcast Profile: https://www.thespacpodcast.com/guests/mohammad-hasham/
LinkedIn: https://www.linkedin.com/in/mohammad-hasham-cpa-ca-cma-3797ab178/
Connect with the Hosts & The SPAC Podcast:
Michael Blankenship LinkedIn: https://www.linkedin.com/in/mikeblankenship/
Joshua Wilson LinkedIn: https://www.linkedin.com/in/joshuabrucewilson/
YouTube Channel: https://www.youtube.com/@Thespacpodcast
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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/
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Mike Blankenship: So for sponsors and management teams that are considering a SPAC transaction today, what are, in your mind, the financial and accounting best practices you would recommend to adopt early in the process — not during, but early?
Mohammad Hasham: I would say the number one most important thing for sponsors is to engage experienced advisors. Sponsors often want to minimize costs as much as possible, and when they do that, they sometimes end up hiring accounting advisors who don’t really have great experience.
Then they go through the process and discover issues during the audit. I’ve recently dealt with situations where sponsors had to bring us in to fix problems created by inexperienced advisors, which ultimately ended up being much more costly. That’s why hiring the right advisors early can make the process much smoother.
It’s also important to look at the chemistry between auditors and advisors. And the same goes for having great legal counsel with real SEC reporting experience. Getting the right team in place early is critical to avoiding mistakes and ensuring a more efficient process.