In this special follow-up edition of the SPACInsider Podcast, we check back in with Dimitre Genov, Ed Kovary, and Nick Skibo, who last joined us at the end of Q3 2024, to assess the state of the SPAC market in 2025 and the key dynamics shaping the landscape.
Our panel brings together perspectives from across the SPAC ecosystem—banking, investing, and advisory—to provide a well-rounded view of the latest market shifts.
Joining us are:
- Ed Kovary, Head of SPAC Capital Markets at BTIG
- Nick Skibo, Managing Partner at Gritstone Asset Management
- Dimitre Genov, Managing Director at Brookline Capital Markets, advising SPAC sponsors on IPOs and de-SPAC transactions
Together, they break down early indicators of SPAC activity for the year ahead, discuss trends such as warrants versus rights, overfunding, and transaction deadlines, and analyze how the new administration’s regulatory changes, particularly at the SEC, could impact dealmakers.
Tune in for an in-depth discussion on the 2025 SPAC market.


At the SPAC of Dawn During a week in which rare earth mining and space de-SPACs have seen major gains, another blast from the past is making serious waves in the market. EV battery developer QuantumScape (NYSE:QS) rose to a 52-week high of $13.79 yesterday and is cruising even higher in the pre-market. The company...
Cantor Equity Partners I (NASDAQ:CEPO) has entered into a definitive agreement to combine with Bitcoin Standard Treasury in a transaction that is worth about $4.8 billion. Bitcoin Standard Treasury aims to bring in capital from a number of equity instruments to build up one of the largest US-listed Bitcoin treasuries. The combined company is expected...
At the SPAC of Dawn Several de-SPACs have made market-moving announcements recently and they haven’t forgotten to cash in on them. Fresh off of announcing $500 million strategic investment and partnership with Apple (NASDAQ:AAPL), rare earth miner MP Materials (NYSE:MP) has followed that up with a $500 million public offering, netting the company a cool...
Pyrophyte Acquisition Corp. II (NYSE:PAII.U) announced the pricing of its $175 million IPO and its units are expected to begin trading on the NYSE under the symbol “PAII.U”, Thursday, July 17, 2025. The new SPAC plans to focus its search on companies within the energy sector that constitute critical links in the supply chain of the...
At the SPAC of Dawn Rare earth miner MP Materials (NYSE:MP) was one of the early winners of the 2020 SPAC boom, having picked up momentum following its 2020 deal with Fortress Value. But, the company’s news that it will become a major supplier of battery materials for Apple’s empire of electronic devices has sent...