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OUR SPAC EXPERIENCE
Withum is a national CPA and advisory firm with
14 offices across the country, including New York,
Boston and California. The Firm has over 1,200 team
members and annual revenues of $240M, ranking in
the top 25 firms in the country.
Withum is a forward-thinking, technology-driven
advisory and accounting firm, committed to
helping clients be more profitable, efficient and
productive in the modern business landscape.
As an independent member of HLB, the global
advisory and accounting network, Withum serves
businesses and individuals on a local-to-global
scale. Our professionals provide the expert advice
and innovation solutions you need to Be in a Position
of Strength in today’s fast-paced, tech-driven world.
Our SEC Practice team has been involved with over 70 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 $11 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, $19 billion, over the last five years.
withum.com
Withum
withum.com WITHUM’S SPAC EXPERIENCE
Completed IPO (SEC Registrant Searching for an Acquisition)
TORTOISE ACQUISITION CORP. $233M
HENNESSY CAPITAL ACQUISITION CORP IV $303M
CRESCENT ACQUISITION CORP. $250M
REPLAY ACQUISITION CORP. $288M
DIAMOND EAGLE ACQUISITION CORP. $400M
CF FINANCE ACQUISITION CORP. $250M
OAKTREE ACQUISITION CORP. $201M
CONYERS PARK ACQUISITION CORP. II $450M
SC HEALTH CORPORATION $250M
SWITCHBACK ENERGY ACQUISITION CORP $314M
FINSERV ACQUISITION CORP. $250M
PROPTECH ACQUIISITON CORP. $172M
CHP MERGER CORP. $200M
APEX TECHNOLOGY ACQUSITION CORP. $275M
GRAF INDUSTRIAL CORP. $350M
KBL MERGER CORP. IV $116M
FAR POINT ACQUISITION CORPORATION $633M
SPARTAN ENERGY ACQUISITION CORP. $520m
BUSINESS COMBINATION
SPACEXPERIENCE
Withum
Our team has been involved in many SPAC business combinations.
We assist the sponsor groups with navigating the Proxy Statement/S-4
reporting requirements for the target company and practical guidance with
the proforma financial statement requirements under S-X Article 11.
We audit the historical financial statements of the target company and
become the independent register public accounting firm post combination.
BUSINESS COMBINATION
Completed Business Combination
CF CORPORATION FGL HOLDINGS
STELLAR ACQUISITION III INC. PHUNWARE, INC.
GTY TECHNOLOGY HOLDINGS INC.GTY TECHNOLOGY HOLDINGS INC.
(6 COMPANY ACQUISITION)
FINTECH ACQUISITION CORP. IIINTERNATIONAL MONEY EXPRESS,
INC.
MODERN MEDIA ACQUISITION CORP. AKAZOO S.A.
HENNESSY CAPITAL ACQUISITION CORP. III NRC GROUP HOLDINGS CORP.
PLATINUM EAGLE ACQUISITION CORP. TARGET HOSPITALITY CORP.
DFB HEALTHCARE ACQUISITION CORP ADAPTHEALTH CORP.
NEW FRONTIER CORPORATIONNEW FRONTIER HEALTH
CORPORATION
HEALTH SCIENCES ACQUISITION CORP. IMMUNOVANT, INC.
SILVER RUN ACQUISITION CORP. II ALTA MESA RESOURCES, 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, Team Leader
T (973) 867 [email protected]
Mark J. Deters, CPA, MS, Partner, Team Member
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]
Joe Fede, CPA, Senior Manager, Team Member
T (973) 532 [email protected]
Visit withum.com to learn more about our services.
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