Hard Lessons from 10 SPAC Deals
In this episode of The SPAC Podcast, Adeel Rouf opens up about the biggest lessons he’s learned across more than 10 SPAC transactions. Rather than highlighting wins, Adeel shares candid stories of missteps that taught him what truly matters in successful SPAC sponsorship.
From rushing private companies to public markets before they were ready, to underestimating the pressure of quarterly reporting, Adeel emphasizes the importance of investor communication, management readiness, and strategic alignment. He also explains why having the right long-term investors on board is just as crucial as finding the right target.
If you’re thinking about becoming a SPAC sponsor or evaluating your readiness, this is a must-watch segment on the realities of what it takes.
Connect with the Guest:
Adeel Rouf – SPAC Sponsor & Investor
LinkedIn: https://www.linkedin.com/in/adeelrouf/
View all of their episodes here:
https://www.thespacpodcast.com/guests/adeel-rouf/
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Michael Blankenship LinkedIn:
https://www.linkedin.com/in/mikeblankenship/
Joshua Wilson LinkedIn:
https://www.linkedin.com/in/joshuabrucewilson/
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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.
Disclaimer:
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.
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👉 Michael J. Blankenship - https://www.linkedin.com/in/mikeblankenship/
👉 Joshua Bruce Wilson - https://www.linkedin.com/in/joshuabrucewilson/
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Mike Blankenship:
And so when you look back on the 10 different SPACs you’ve worked on, what are some of the top lessons? If you were to speak to somebody who’s potentially becoming a sponsor, what are the top lessons you’ve learned?
Adeel Rouf:
Well, as you might know, I’m a big believer in sharing failures before successes. I’ve had a lot of failures in the SPAC game, and through those, I’ve learned a lot and become a better sponsor.
One lesson is that some companies we took public weren’t ready. They had high private valuations but lacked readiness for the public markets. Another major issue was management teams—some of them were great in private company settings but weren’t built for public scrutiny. Public markets have different demands: earnings calls, regulatory expectations, constant investor communication. You need to be on your A game.
Lastly, having the right investors matters. You want strategic, long-term partners—not just quick money. That combination of readiness, communication, and aligned capital is what I now focus on when sponsoring a SPAC.
Adeel Rouf
CEO
Adeel Rouf is a seasoned financier and SPAC sponsor with a background spanning investment banking, capital markets, and corporate finance. He currently serves as the President and Chief Executive Officer of Voyager Acquisition Corp., a Nasdaq-listed special purpose acquisition company that recently announced a $1.3 billion merger with Veraxa Holdings, a Switzerland-based biotechnology firm.
Mr. Rouf is also the President and Chief Financial Officer of Titan Acquisition Corp., a fintech-focused SPAC that raised $277 million in its initial public offering. He has previously held officer and director roles in several other SPACs, demonstrating a consistent track record in sourcing, structuring, and executing complex transactions across sectors.
Earlier in his career, Mr. Rouf was part of J.P. Morgan’s Investment Banking Leveraged Finance team, where he focused on executing high-yield and structured debt financings. He also worked at Sumitomo Mitsui Banking Corporation, advising on structured credit and project finance deals.
He earned a BBA in Accounting from Baruch College and holds a Master of Science in Sustainability Management and Energy Finance from Columbia University.