Building Market Trust: Preparing Leaders and Messaging for Public Scrutiny
In this episode of The DESPAC Podcast Go Public Series, host Chaz Churchwell and SPAC attorney Michael Blankenship of Winston & Strawn break down the fifth step of the Go Public Framework: B – Building Market Trust.
Building market trust is one of the most important requirements for a successful DESPAC transaction. It is not enough to structure a strong deal. The market must believe in the company, the leadership, and the plan.
Listeners will learn:
• How executive teams prepare for analyst, investor, and media scrutiny
• Why clear and aligned messaging determines investor confidence
• The communication mistakes that drive redemption rates
• Why investors prioritize transparency, discipline, and execution
• How hype undermines trust and weakens public-market positioning
• Why crypto-involved companies must articulate risk, custody structure, and long-term strategy
• How disciplined communication builds credibility with institutional investors
This episode gives leaders the communication strategy required to maintain trust through the DESPAC process and into life as a public company.
Connect With the Guest:
Michael Blankenship, Winston & Strawn LLP
LinkedIn: https://www.linkedin.com/in/mikeblankenship
Connect With the Host & The DESPAC Podcast:
Chaz Churchwell LinkedIn: https://www.linkedin.com/in/chazchurchwell/
YouTube Channel: www.youtube.com/@thedespacpodcast
THE DESPAC PODCAST STANDARD LEGAL 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 Smooth Stone Capital, 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.
Smooth Stone Capital and the DESPAC Podcast disclaim all liability arising from the use of or reliance on the information presented.
Chaz Churchwell: Welcome back to the D SPAC Podcast Go Public series. I'm your host Chaz with churchwell Insurance Agency and we have joining us Michael Blankenship with Winston Strom. He's one of the top SPAC attorneys in the country and you want to listen to what he has to say. So far, we've gone over the letter jig for Get Ready O for organizing advisors.
P for positioning the deal U for undergoing due undergoing diligence, and now we're moving into BI believe as a risk advisor that this is one of the most imperative components building market trust. Michael, tell me why. This is a separate step that stands alone.
Mike Blankenship: So Chad, because credibility isn't just about a good deal.
Uh, it's about how you communicated. So that's hundred percent. This is when you train your C-E-O-C-F-O and board. For public scrutiny because it's totally opening up to everything the public can scrutinize. They need to be prepared for the relentless questions, media interviews, and investor expectations.
Chaz Churchwell: It's absolutely true. It's about making sure that your me, that your message is consistent and it's really about making sure that, uh, that you're not. Over communicating, under communicating, and really just being able to have it all dialed in to really from a position of public readiness.
Mike Blankenship: Exactly. You have to align your messaging across investor presentations, press releases, and SEC filings.
Yeah, any inconsistency can certainly erode trust. The key is to focus on execution and transparency. Not some big hype. Investors are tired of overblown promises. They wanna see a clear path to profitability and capital discipline.
Chaz Churchwell: I want to talk to you about that, that over like those overblown promises, I believe wholeheartedly, and I bet you agree that that's a huge part of the issue that causes people to redeem out of these SPACs.
If they felt that it was actually a solid deal, they would have a higher propensity to stay in it. Am I right?
Mike Blankenship: That's right. They continue, if they're not transparent about it and people don't have. A actual reason to stay in the deal, they will redeem out. And so they need companies to be there.
Chaz Churchwell: So now real quick, let's wrap this up.
Talking about crypto involved companies. So what's the communication strategy there that's gonna be differentiated?
Mike Blankenship: So you do start with transparency that is paramount, uh, but you must clarify the long-term rationale for your digital asset strategy. Explain your security practices, your treasury policy to mitigate concerns about from analyst, institutional investors.
You're certainly building trust in a new, often volatile asset class.
Chaz Churchwell: Yeah, it's all about that disciplined approach. Next up, we're gonna talk about L List and launch. I'm Chaz. This is Mike, the D SPAC podcast.