The Four Ways to Go Public, and Why Most Companies Only Have One — Brandon Sun

There are four ways to take a company public. Brandon Sun says 95% of companies realistically have access to one.Brandon Sun, Managing Director and Head of SPAC Investment Banking at Cohen & Company, has closed more than 130 DESPAC and M&A transactions representing over $210 billion in enterprise value, plus 120+ IPOs raising over $45 billion. He walks host Chaz Churchwell through the decision facing private companies today: an IPO backlog roughly 1,000 companies deep, bulge-bracket banks acting as gatekeepers, and a market where sponsor quality separates deals that work from ones that don't. Brandon also explains why the regret he hears most isn't from companies that went public — it's from the ones that waited.What We Cover:- The four paths to public markets, and why most companies have one- Why the IPO backlog leaves companies waiting quarters or years- How investment banks function as gatekeepers to the traditional IPO- Public-private arbitrage and why it drives sector selection- Where capital is going: quantum, nuclear, rare earths, defense, space- Why valuation is a point-in-time consideration, not a finish line- Sponsor quality and the halo effect in biotech DESPACs- What separates companies that follow through from ones that back out- Cross-border listings: why Asia and Europe turn to SPACs- The regret that actually shows up: missing the windowConnect with Brandon Sun:https://www.cohencm.com/brandon-sunhttps://www.linkedin.com/in/brandonsun/Connect with Chaz Churchwell:https://www.linkedin.com/in/chazchurchwell/Protect Your Transaction:Churchwell Insurance Agency specializes in D&O, E&O, representations and warranties, and public company liability for SPAC sponsors, DESPAC targets, and post-merger companies. https://www.churchwellagency.com/Follow The DESPAC Podcast:https://www.thedespacpodcast.com/https://www.linkedin.com/company/thedespacpodcast/https://www.youtube.com/@thedespacpodcastApple https://podcasts.apple.com/podcast/id1855942535?mt=2&ls=1Spotify https://open.spotify.com/show/1pA3EuEU656ZsEEx1Te4C2The DESPAC Podcast is for informational and educational purposes only. Nothing in this content constitutes legal, investment, tax, or financial advice, nor a recommendation to pursue or avoid any transaction. Consult qualified legal, financial, and tax professionals before acting on any information discussed. News Theme 1 by Audionautix is licensed under a Creative Commons Attribution 4.0 license. https://creativecommons.org/licenses/by/4.0/THE DESPAC PODCAST  DISCLAIMERThe DESPAC Podcast is for informational purposes only. The views and opinions expressed by the host and guests are their own and do not represent the views of One Iron Network LLC, its affiliates, or any sponsoring organization.Nothing in this podcast should be interpreted as legal advice, investment advice, tax advice, or a recommendation to pursue or avoid any transaction. Discussions may reference SPACs, DESPAC transactions, securities regulations, or public-company readiness frameworks. These conversations are educational in nature and should not be relied upon when making financial or strategic decisions.Listeners should consult qualified legal, financial, and tax professionals before acting on any information discussed in this podcast. Any examples or scenarios mentioned are illustrative and may not reflect current market conditions or regulatory requirements.Participation by a guest does not constitute an endorsement of any company, strategy, product, or service. References to specific firms or individuals are for context only.One Iron Network LLC and the DESPAC Podcast disclaim all liability arising from the use of or reliance on the information presented.