Family Office vs Hedge Fund Money: What SPAC Sponsors Need to Know — Steve Kann

Not all PIPE capital is created equal — and the wrong money can destroy a de-SPAC before it ever has a chance to perform.Steve Kann has spent 30 years in small cap investment banking — founding companies, running funds, and advising on capital formation across PIPE financings, IPOs, M&A, and de-SPAC transactions. As Head of US Investment Banking at Arc Stone Securities and Partner at Ocean Street Partners, Steve brings a practitioner's lens to one of the most misunderstood decisions a SPAC sponsor makes: who you let into your deal and when.In this episode, Steve breaks down why hedge fund arb money and family office capital produce different post-combination outcomes — and how pricing determines which investors you can attract. He also shares why most de-SPAC management teams fail to recognize they now have two products to sell, and what that blind spot costs them in aftermarket performance.🎯 What We Cover:Why hedge funds are structurally misaligned with de-SPAC successHow family office capital functions as sticky, partnership-oriented moneyWhen retail capital enters the picture — and what that signalsWhy de-SPAC CEOs underestimate the equity story as a second product to sellHow inefficient markets create mispricing in small and microcap namesSPAC vs. direct listing vs. IPO vs. reverse merger — when each makes senseThe cross-border complexity sponsors routinely underestimateWhy toxic capital structures leave companies with no second chance to raiseThe SPAC Bootcamp - https://www.linkedin.com/feed/update/urn:li:activity:7447383788864778241/?utm_source=share&utm_medium=member_desktop&rcm=ACoAAAkIjyYBAXZAMcq5y4Coph2bOaN-KqTsMvY🤝 Connect with Steve Kann: 🌐 https://www.arcstoneglobalsecurities.com 💼 https://www.linkedin.com/in/stephenkann/📩 Connect with Michael Blankenship: 💼 https://www.linkedin.com/in/mikeblankenship/ 🌐 https://www.thespacpodcast.com/📩 Connect with Joshua Wilson: 💼 https://www.linkedin.com/in/joshuabrucewilson/ 🌐 https://www.thespacpodcast.com/🎙️ Follow The SPAC Podcast: 🌐 https://www.thespacpodcast.com/ ▶️ https://www.youtube.com/@thespacpodcastDisclaimer: Michael J. Blankenship is a licensed attorney and partner at Winston Taylor. Joshua Wilson is a licensed Florida real estate broker and holds FINRA Series 79 and Series 63 licensure. The content of this podcast is for informational and educational purposes only and should not be considered legal, financial, or compliance advice. All views and opinions expressed by the hosts and guests are their own and do not necessarily reflect the policies or positions of any regulatory agency, law firm, organization, or employer. Listeners should consult their own legal counsel, compliance teams, or financial advisors to ensure adherence to applicable regulations, including SEC, FINRA, and other industry-specific requirements. This podcast does not constitute a solicitation or recommendation for any financial products or services.Let's Connect on LinkedIn: https://www.linkedin.com/in/mikeblankenship/ https://www.linkedin.com/in/joshuabrucewilson/ To Contact Us, Please Visit: https://www.TheSPACPodcast.com/contact/