Hi guys
I’m not familiar with these. Is the financial modeling the same as modeling out any listed companies? Very limited experience in listed companies so don’t shoot me down. Take me as a noob.
SPAC - where a startup is looking to merge with a SPAC as a faster route to list compared to IPO. How does the model work?
PIPE and pre IPO - thoughts on how to model?
| +247 | UBS Tech MD hires Son (from no-name college) as an Intern | 45 | 1h |
| +163 | WTF IS THIS COMPETITON | 59 | 1h |
| +161 | Mayday, Mayday: Key UBS Leaders (Former Barclays MDs) Abandoning Ship | 28 | 2d |
| +117 | Is banking in the south more sustainable? | 27 | 5h |
| +91 | The Intern Starter Pack | 15 | 6h |
| +75 | Current State of the League Tables | 28 | 4h |
| +48 | Perella Weinberg to Cut 10% of Workforce, Including Partners | 31 | 16h |
| +44 | [Official] 2026 IB Analyst Bonus Megathread (with 2025 Consolidated Pay and Perks/Benefits) | 8 | 18h |
| +38 | UBS Groups Ranked by Future Outlook | 20 | 20h |
| +32 | PWP Layoffs????? | 18 | 3d |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
IPO/Pre-IPO modeling is just DCF/Comps analysis. You take whatever valuation range you get from those, find the implied share PF for the transaction and throw that range into an Analysis at Various Prices/Transaction Matrix to show implied multiples and relative value to key comps.
SPAC is similar but you are also layering in a couple of deal/transaction structuring elements such as sponsor promote and whether they are going to give any of that up, warrant attach rate, etc.
Hi! Thanks for the reply. I guess for SPAC, it is the financial engineering portion that is different. Are there any materials/examples that talk more about these? Attach rate etc I have never seen one so I am finding it hard to visualise.
It's primarily focused on understanding what the ownership of the company looks like once it's SPACed. Most SPACs have warrants for example, typically 1/5, 1/4, 1/3 attached, something like that which will dilute shareholders. There is also the sponsor promote, as well as the PIPE investor shares.
Et excepturi quos eum tenetur reiciendis ut quia. Aut nisi ipsum maiores magnam perferendis accusantium minima. Repellat facilis corrupti at sint eveniet minus. Et facilis placeat quisquam eum consequatur et explicabo. Enim saepe dolor et eos quae ea est voluptatem. Sed magni harum magnam temporibus.
Quia ea asperiores iusto aliquam. Id qui ullam qui ut nam rerum omnis. Eum voluptates soluta consectetur sunt tenetur minus nihil.
Iste veniam quia laborum quisquam vitae. At debitis quam dicta et inventore voluptatibus laboriosam hic. Accusantium odio quos est.
Velit autem facilis velit qui. Quia eligendi consectetur nisi possimus. Aliquid incidunt consequatur voluptatem explicabo.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...