The Year of the SPAC and What is the Endgame with Drew Bernstein, Co-Managing Partner of MBP

In this Wall Street View, I spoke with Drew Bernstein, Co-Managing Partner of MBP, to discuss his recent blog posts about SPACs:

"The Year of the SPAC": https://crm.marcumbp.com/china-accounting-insights/the-year-of-the-spac

"SPACs | A Guide for Management": https://crm.marcumbp.com/china-accounting-insights/spacs-guide-for-management

- 0:41 As the title in your article on October 5 suggests, this has been "The Year of the SPAC". Let's start with a quick definition of SPAC's and why "Thus far, in 2020, 116 SPACs have been funded through initial public offerings, raising $40 billion"?

- 3:06 What would you say is the evolution of SPACs - how have we gotten to where we are today?

- 5:11 Why is now a target rich environment for SPACs? Why are SPACs enticing?

- 7:51 What does evolution of SPACs mean for the traditional IPO?

- 9:38 What are the unique features that management needs to be aware of when evaluating a potential deal?

- 12:52 Best practices on doing a SPAC deal: the next steps are negotiating the SPAC deal, getting to close and preparing to go public - what management teams should be aware of?

- 14:19 To close out here, what would you say is the "Endgame" for SPACs? Will SPACs Become a Viable Alternative to the Traditional IPO?

For more information about MBP, please visit: https://www.marcumbp.com/

About Drew Bernstein

Drew Bernstein is the Co-Regional Managing Partner of Marcum Bernstein & Pinchuk, initially co-founder of Bernstein & Pinchuk, a PCAOB registered accounting firm which has been providing SEC audit and advisory services to Chinese companies since 1983. The firm is a member of the Marcum Group and an affiliate of Marcum LLP, a leading U.S. accounting and advisory firm. The combined firm is one of the largest middle market accounting firms servicing China-based, US publicly traded companies.

Bernstein is a distinguished expert with deep knowledge of the China and U.S. financial ecosystem with experience extending across Asia, Europe and Africa. Industry experience encompasses technology, education, retail, manufacturing, hospitality, pharmaceutical and real estate. Bernstein directs a global team, featuring highly trained PCAOB and SEC accounting experts and financial consultants working in New York City as well several offices across China.

Additionally, Bernstein is respected as a valuable industry thought leader and news commentator. He has published articles for Forbes.com, CFO.com and China Daily and is often a resource to prominent new media outlets such as The Wall Street Journal, Bloomberg TV, The Financial Times, Barron’s, MarketWatch and more regarding Chinese IPOs, China’s economic growth, investment appetite, innovation trends, corporate governance, SEC regulations and more.

Bernstein graduated from the University of Maryland with a B.S. in Accounting. Currently, he resides in New York City with his wife and children.

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