What does it take to bring a billion-dollar-plus quantum computing company to the public markets? In this episode, IQM co-founder and CEO Jan Goetz and SPAC sponsor Peter Ort reveal why a European quantum leader chose a SPAC over a traditional IPO, and how deal certainty and timing ultimately shaped the decision to go public now.

Host Michael Blankenship is joined by Dr. Jan Goetz, co-founder and CEO of IQM Quantum Computers, and Peter Ort, SPAC sponsor and General Partner at Cambium Capital, for a candid look at one of the most closely watched deals in the quantum computing space. The conversation traces IQM's path from a 2018 Aalto University spin-out to a full-stack, vertically integrated quantum company that has now shipped 23 systems worldwide. Goetz and Ort discuss the SPAC transaction with Real Asset Acquisition Corp., why public-market capital can accelerate a long-term technology roadmap, and what comes next for superconducting quantum computing.

What We Cover:

• Why IQM chose a SPAC over a traditional IPO
• Deal certainty, timing, and execution in a SPAC transaction
• IQM's full-stack, vertically integrated model and proprietary chip fab
• Deploying quantum computers at scale inside live data centers
• The recent Oak Ridge National Labs on-prem delivery
• How public-market capital accelerates a tech and product roadmap
• IQM's competitive position in the superconducting modality
• The 2025 Series B round and the company's capitalization picture
• Where quantum computing is headed: error correction and beyond
• What the partnership between IQM and Cambium Capital looks like

Connect with Mike Blankenship:
LinkedIn linkedin.com/in/mikeblankenship

Connect with Jan Goetz:
Website iqm.tech
LinkedIn linkedin.com/in/jan-goetz

Connect with Peter Ort:
LinkedIn linkedin.com/in/peter-ort-5102a013
Website curaleaassociates.com

About Winston Taylor:
Winston Taylor is an international law firm with a capital markets practice that works with companies and sponsors across the SPAC and public-company lifecycle. Learn more at winstontaylor.com.

Follow The SPAC Podcast:
Website thespacpodcast.com ·

LinkedIn linkedin.com/company/thespacpodcast ·

YouTube youtube.com/@thespacpodcast

Disclaimer: 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/

Vik Mittal has been investing in SPACs for 22 years. His verdict on the 2020–21 boom: roughly 60–70% of vehicles liquidated, and a majority of those that closed went bankrupt before their lockups expired — what he flatly calls "a real destruction of capital." So why is he more bullish on the asset class now than he's been in years?

In this episode, Vik Mittal, Managing Member and CIO of Meteora Capital, joins host Mike Blankenship to unpack how institutional capital reshaped the SPAC market — turning a sleepy backwater product into a disciplined vehicle built around serial sponsors. Drawing on two decades on the buy side at Glazer Capital and years as a principal sponsor, Vik traces the arc from the first institutional PIPEs through the 2021 excess to today's renaissance. It's a clear-eyed practitioner's look at sponsor quality, valuation discipline, redemptions, warrants, and exactly where durable SPAC deals are getting done in 2025.

What We Cover:

• 📈 How institutional PIPEs first opened the SPAC market to long-only and long-short funds
• 🏦 Why separating the shareholder vote from redemptions reshaped the asset class
• ⚠️ The 2020–21 boom: liquidation rates, capital destruction, and the lessons learned
• 🔁 Why serial sponsors with real track records define the 2025 renaissance
• 💰 Sponsor alignment: why core-team risk capital beats fully syndicated deals
• 🧮 The PIPE as a valuation-discipline mechanism for investors
• 🚀 Where SPACs fit vs. a regular-way IPO — and the 10X target profile
• 🤖 AI infrastructure and digital assets as the new SPAC frontier
• 🎓 Advice for first-time sponsors: sit on a board before you lead
• 📰 The media's biggest misconceptions about how SPACs really work

Connect with Vik Mittal Website meteoracapital.com LinkedIn linkedin.com/in/vik-mittal-539903132

Connect with Mike Blankenship LinkedIn linkedin.com/in/mikeblankenship

About Winston Taylor Winston Taylor is an international law firm with a capital markets practice that works with companies and sponsors across the SPAC and public-company lifecycle. Learn more at winstontaylor.com.

Follow The SPAC Podcast Website thespacpodcast.com · LinkedIn linkedin.com/company/thespacpodcast · YouTube youtube.com/@thespacpodcast

Disclaimer: 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/

What does it take to put fusion energy on the public markets? Greg Twinney, CEO of General Fusion, joins Mike Blankenship to break down why the company is going public through a SPAC merger with Spring Valley — and why committed, oversubscribed PIPE capital mattered far more to him than counting on the trust account to actually come through at closing.

EPISODE SUMMARY

Greg Twinney, CEO of General Fusion and a 20-plus-year veteran of commercializing new technologies, walks through one of the most closely watched energy SPAC deals of the cycle. Twinney explains General Fusion's announced business combination with Spring Valley, the rationale for choosing a SPAC over a direct listing or traditional IPO, and how the company structured committed capital to fund critical machine milestones. The conversation digs into redemption risk, trust account dynamics, PIPE financing, and what it takes to move a decades-long fusion program from private science into the scrutiny of the public markets. A clear-eyed look at capital formation, deal structure, and the equity story behind deep-tech.

What We Cover

• Why General Fusion chose a SPAC over a direct listing or IPO
• The announced Spring Valley business combination and ~$1B pro forma equity value
• How an oversubscribed PIPE raise (~$108M) anchored the deal
• Trust capital, redemption risk, and why committed PIPE mattered most
• Funding the milestones for a 50% power-plant-scale machine
• General Fusion's liquid-metal-wall engineering approach to fusion
• How fusion economics could translate to commercial power plants
• The decoupled, capital-efficient path to a first-of-a-kind plant
• What going public means for a decades-long fusion program

Connect with Greg Twinney Website generalfusion.com LinkedIn linkedin.com/in/gregtwinney

Follow The SPAC Podcast Website thespacpodcast.com · LinkedIn linkedin.com/company/thespacpodcast · YouTube youtube.com/@thespacpodcast

Disclaimer: 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/