OUR SPAC EXPERIENCE
Founded in 1974, Withum ranks in the
top 25 largest public accounting and
consulting firms in the U.S, providing
world-class accounting, audit, tax and
business advisory services to mid-
market companies across the country
and around the globe. Withum has
locations in major cities and financial
centers including Boston, MA; New York
City, NY; Philadelphia, PA; Washington,
DC, Princeton, NJ and Orlando, FL.
Our SEC Practice team has been involved with over 50 Special Purpose
Acquisition Corporation (SPAC) transactions and has worked with
virtually every legal and underwriting player in this niche. These
individual transactions have resulted in deals ranging from $50 million
to over $1 billion.
Withum has been the auditor of record for approximately $9 billion of
SPAC IPO’s sponsored by the investment community during the last 24
months, including the largest SPAC IPO since the global financial crisis,
which raised $1 billon in trust proceeds. Withum has emerged as the
firm of choice in the SPAC arena.
SPACEXPERIENCE
WITHUM RANKED NUMBER ONE of non Big 4 firms in total proceeds raised
in IPOs for the year-ended December 31, 2018.
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withum.com WITHUM’S SPAC EXPERIENCE
Completed IPO (SEC Registrant Searching for an Acquisition)
ARYA SCIENCES ACQUISITION CORP. $144M
COLLIER CREEK HOLDINGS $440M
DFB HEALTHCARE ACQUISITIONS CORP. $250M
FAR POINT ACQUISITION CORPORATION $633M
FINTECH ACQUISITION CORPORATION III $345M
GTY TECHNOLOGY HOLDINGS INC. $552M
GRAF INDUSTRIAL CORP. $350M
KBL MERGER CORP. IV $116M
LEGACY ACQUISITION CORP. $300M
MEGALITH FINANCIAL ACQUISITION CORP. $171M
MODERN MEDIA ACQUISITION CORP. $207M
MOSAIC ACQUISITION CORP. $345M
NEBULA ACQUISITION CORPORATION $275M
ONE MADISON CORPORATION $300M
PLATINUM EAGLE ACQUISITION CORP. $325M
PURE ACQUISITION CORP. $414M
REGALWOOD GLOBAL ENERGY LTD. $300M
SENTINEL ENERGY SERVICES INC. $300M
SPARTAN ENERGY ACQUISITION CORP. $520M
VANTAGE ENERGY ACQUISITION CORP. $552M
BUSINESS COMBINATION
SPACEXPERIENCE
Withum
Our team has been involved in many recent SPAC business combinations.
We assist the sponsor groups with navigating the Proxy Statement/S-4
reporting requirements for the target company, as well as practical guidance
with the proforma financial statement requirements under S-X Article 11.
BUSINESS COMBINATION
Completed Business Combination
CF CORPORATION FGL HOLDINGS
CONYERS PARK ACQUISITION CORP.THE SIMPLY GOOD FOODS
COMPANY
DOUBLE EAGLE ACQUISITION CORP. WILLSCOT CORPORATION
FINTECH ACQUISITION CORP. IIINTERNATIONAL MONEY
EXPRESS, INC.
GLOBAL PARTNER ACQUISITION CORP. PURPLE INNOVATION, INC.
HENNESSY CAPITAL ACQUISITION CORP. II DASEKE, INC.
HENNESSY CAPITAL ACQUISITION CORP. III NRC GROUP HOLDINGS CORP.
INDUSTREA ACQUISITION CORP.CONCRETE PUMPING
HOLDINGS, INC.
JM GLOBAL HOLDING COTMSR HOLDING
COMPANY LIMITED
KAYNE ANDERSON ACQUISITION CORP. ALTUS MIDSTREAM CO
MATLIN & PARTNERS ACQUISITION CORP. U.S. WELL SERVICES, INC.
SILVER RUN ACQUISITION CORP.CENTENNIAL RESOURCE
DEVELOPMENT, INC.
SILVER RUN ACQUISITION CORP. II ALTA MESA RESOURCES, INC.
TERRAPIN 3 ACQUISITION CORPORATION YATRA ONLINE, INC.
Withum’s Role in SPAC IPO Process
DELIVERABLES
WITHUM’S SPAC EXPERIENCE
“Seed” auditof the recentlyformed SPACto be included
in an S-1registrationstatement
Reading /review of the
S-1registrationstatement
Assistance tomanagement
relative to SECcomments
Consents forfiling ouropinion in
subsequentamendments
to the S-1RegistrationStatement
Comfort letterto the
underwritersprior to
“pricing”
Bring downletter to
underwritersprior to IPO
closing
“Closing date”balance sheet
audit to beincluded inForm 8-K
Bring downletter to
underwritersprior to
overallotmentclosing, ifapplicable
Note: Each consent will require abbreviated audit update procedures
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Note: Each consent will require abbreviated audit update procedures
WITHUM’S FINANCIAL SERVICES
The Firm’s Financial Services Industry Group serves clients reflecting
the diversity of the industry, including hedge fund managers, venture
capital firms, private equity firms, mortgage bankers, SPACs, broker-
dealers and regulated investment companies. The Firm understands the
challenges of operating in a complicated, highly regulated environment,
and how to successfully comply with SEC and other rules which often
require the expertise of independent auditors and consultants.
SNAPSHOT OF WITHUM’S INDUSTRY ASSOCIATIONS
WITHUM FINANCIAL SERVICES
For more information on Withum’s SPAC Services, please contact:
Jay C. Shepulski, CPA, Partner, Practice Leader
T (973) 867 [email protected]
Mark J. Deters, CPA, MS, Partner, Team Leader
T (973) 867 [email protected]
Marc Silverman, CPA, Partner, Team Member
T (973) 532 [email protected]
Michael Tenny, CPA, Senior Manager, Team Member
T (973) 867 [email protected]
Visit withum.com to learn more about our services.