What is the Difference between a SPAC and an IPO?

What is the Difference between a SPAC and an IPO?

Rupert Walford

25 years: Capital markets

In this video, Rupert explains the differences between the SPAC merger route to a public listing and a traditional IPO and analyses the pros and cons - and whether the SPAC merger route does in fact provide a better alternative.

In this video, Rupert explains the differences between the SPAC merger route to a public listing and a traditional IPO and analyses the pros and cons - and whether the SPAC merger route does in fact provide a better alternative.

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What is the Difference between a SPAC and an IPO?

9 mins 19 secs

Overview

In this video Rupert looks at the key differences between coming to the public markets via a merger with a SPAC and via a traditional IPO. Some of which include speed, execution risk and valuations.

Key learning objectives:

  • Identify the differences between a traditional IPO and a SPAC merger

  • Explain each of these factors in detail

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Expert
Rupert Walford

Rupert Walford

Rupert has over 25 years of experience in the financial services industry working mainly in international capital markets. He is currently a Managing Director at RBC Capital Markets in London responsible for ECM Execution and Healthcare ECM and Corporate Broking in Europe. Rupert was previously at Linklaters for 8 years, at UBS Investment Bank for 9 years as Head of Global Capital Markets Legal and as a member of UBS's ECM Execution team and subsequently at Deutsche Bank in Compliance covering ECM and Corporate Broking. Rupert has extensive experience in a wide range of investment banking transactions in EMEA, predominantly in the emerging markets and in particular Russia. He is also a qualified lawyer.

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