Before a SPAC ever goes public, the first investors you have to win are the ones already on the cap table. Serial SPAC sponsor Vik Mittal explains why investor relations starts long before the merger announcement.
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In this episode of The Investor Relations Podcast, host Joshua Wilson sits down with Vik Mittal, Managing Member and CIO of Meteora Capital, to break down how SPAC investor relations actually works at every stage. Vik explains how sponsors align venture and early-stage investors behind going public, how SPAC sponsors raise risk capital, what institutional investors ask before buying into a SPAC IPO, what sponsors can and cannot say during the quiet period, and how wall-crossing works before a deal is announced. Recorded on the day one of his SPACs announced a definitive agreement, the conversation also covers the post-announcement investor campaign: roadshows, conferences, media outreach, sell-side research coverage, and engaging retail investors.
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QUESTIONS ANSWERED
When does investor relations start in a SPAC deal?
How do you get existing investors to support taking a company public?
How do SPAC sponsors raise risk capital?
Why do institutional investors back serial SPAC sponsors?
What did the 2020 SPAC boom teach sponsors about investors?
What do institutional investors ask before buying a SPAC IPO?
What can a SPAC sponsor say during the quiet period?
What is wall-crossing in a SPAC deal?
What happens after a SPAC merger is announced?
How do SPAC companies build sell-side coverage and a retail following?
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CHAPTERS
0:00 Welcome and Why SPAC Investor Relations Matters
1:00 Vik Mittal's Path from Banking to SPAC Sponsor
3:39 Where Investors Plug In Across the SPAC Process
4:45 Aligning Private Investors Before Going Public
9:49 Why SPAC IR Starts with the Cap Table
10:31 Making the Case to Venture Investors
13:20 Raising Sponsor Risk Capital
14:14 Lessons from the 2020–2021 SPAC Boom
19:44 Investor Relations for the Trust Raise
22:28 The Quiet Period and Material Information
24:09 Wall-Crossing and Confidential Investor Previews
26:26 The Announcement Campaign and Ongoing IR
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CONNECT WITH VIK MITTAL
Website: https://meteoracapital.com/
LinkedIn: https://www.linkedin.com/in/vik-mittal-539903132/
X: https://x.com/vik_mittal
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ABOUT THE SHOW
The Investor Relations Podcast is produced by One Iron Network. Learn more at oneironnetwork.com.
A One Iron Network production: Executive Producer Joshua Wilson
Disclaimer: Joshua Wilson holds FINRA Series 79 and Series 63 licenses and is a licensed Florida real estate broker. The content of this podcast is for informational and educational purposes only and should not be construed as legal, financial, investment, or compliance advice. All views and opinions expressed by the host and guests are their own and do not represent the views of Smooth Stone Capital or any regulatory body. Guest appearances do not constitute an endorsement of the guest, their firm, or any products or services they offer. Information discussed may not be current or accurate at the time of listening. Listeners should consult their own legal counsel, compliance team, or financial advisor before making any decisions based on content heard in this podcast. Nothing in this podcast constitutes a solicitation, recommendation, or offer to buy or sell any security or financial product.
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