Preparing for a DESPAC: Audit Readiness, Valuation & Reporting

Most private companies treat a DESPAC as the finish line. Jeffrey Duncan and Jonathan Grubbs of Aprio explain why day one as a public company is where the real work begins — and why targets that wait until the BCA is signed are already behind. In this episode, host Chaz Churchwell sits down with Jeffrey Duncan, Partner and leader of Technical Accounting Consulting Services at Aprio, and Jonathan Grubbs, Director and Complex Financial Instrument Leader in Aprio's Valuation & Investigation Services practice. Together they walk through what it actually takes to prepare a private company for a DESPAC transaction: PCAOB audit readiness, document gathering, internal controls, valuation strategy across competing stakeholders, the role of PIPE capital, and the ongoing SEC reporting obligations that start the moment a deal closes. A practical, practitioner-level roadmap for founders, CFOs, and boards weighing the public-company path. What We Cover: Why "start early" means 12 to 18 months ahead of the BCA close The three keys to a successful DESPAC transaction Preparing for a PCAOB audit when you've never been audited Gap assessments, internal controls, and getting off spreadsheets Negotiating legacy debt and equity before it derails a deal Why valuation is the common language of every DESPAC stakeholder How PIPE capital validates a deal and funds the balance sheet Treating valuation as an ongoing compliance function, not a one-time event Life as a public-company CFO after the transaction closes The quarterly vs. semi-annual reporting debate Connect with Jonathan Grubbs and Jeffrey Duncan: Website: aprio.com Jonathan Grubbs LinkedIn: linkedin.com/in/jonathan-grubbs-761a94161 Jeffrey Duncan LinkedIn: linkedin.com/in/jeffduncancpa Connect with Chaz Churchwell: LinkedIn: 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. churchwellagency.com Follow The DESPAC Podcast: Website thedespacpodcast.com · LinkedIn linkedin.com/company/thedespacpodcast · YouTube    / @thedespacpodcast   The 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/... THE DESPAC PODCAST DISCLAIMER The 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. 🎙️ The DESPAC Podcast: https://www.thedespacpodcast.com/ 📺 YouTube:    / @thedespacpodcast   🔗 Chaz Churchwell:   / chazchurchwell   🛡️ Churchwell Insurance Agency: https://www.churchwellagency.com