It’s key to assess your readiness first and then build a plan towards a successful IPO/de-SPAC before engaging a banker or discussing in earnest with your board of directors (BOD).
With current valuations, bankers and BODs often push companies towards a public exit before they’re actually ready. Companies can lack the needed structure and formality in major areas, which leads to a painful process and frequently results in material weaknesses, fractured timelines, and distraction from running the business.
There’s been a frenzy of IPOs/SPACs because of the valuations that started back in Q2 2020, but SPACs started to cool during summer 2021—partly due to the warrant restatement issue so many faced in Q2 2021 and market conditions