SPACInsider

Asheesh Birla, CEO of Evernorth, on Building an XRP-Focused Crypto Treasury

This week, we speak with Asheesh Birla, CEO of Evernorth. Evernorth is a crypto treasury focused on XRP, a cryptocurrency that is used in decentralized financial structures and payments. It aims to power that endeavor through its business combination with Armada Acquisition Corp. II (NASDAQ:XRPN), announced in October.

Crypto treasury deals were one of the major themes of 2025 SPAC dealflow, but they are far from being all the same.  Asheesh explains how the company plans to leverage its XRP holdings to generate yield over the long term and how XRP’s unique appeal in international markets presents a fresh opportunity for the crypto treasury model.

Give it a listen.

This interview contains forward-looking statements. See linked press release for important disclaimers: https://www.evernorth.xyz/press-release-10-20-2025

Roozbeh Charli, CEO of Einride, on Designing Trucks for a Driverless Future

Driverless trucks have officially made it to the road and everyday operations of many shippers, but there is still plenty of room for innovation in the field. For instance, if there is no driver, why keep the driver’s compartment at all?

This week, we speak with Roozbeh Charli, CEO of Einride, which is introducing fully cabless autonomous trucks into customer fleets and accelerating that rollout through its business combination with Legato Merger Corp. III (NYSE:LEGT).

Roozbeh explains how Einride has sped up commercialization by integrating autonomous operations into its existing fleet electrification services, and why he believes now is the right moment for the industry to move past incremental steps and embrace what fully autonomous logistics can ultimately look like.

Give it a listen.

2025 SPAC Market Review and 2026 Outlook, with Ed Kovary and Jerry Serowik

In this episode, we examine how the SPAC market evolved in 2025 and what sponsors, issuers, and investors should be thinking about as the calendar turns to 2026.

Joining the discussion are Ed Kovary, Head of Capital Markets at BTIG, and Jerry Serowik, Head of Capital Markets at Cohen & Company, two firms that were among the most active in the SPAC ecosystem in 2025.

Drawing on firsthand experience, the conversation covers how deal structures, investor expectations, and sponsor strategies shifted over the course of the year and how capital markets conditions shaped issuance and deal execution.

The episode concludes with a forward-looking discussion on what these trends imply for SPAC activity in 2026, including where opportunities may emerge and what risks remain for the asset class.

 

Merlin Labs and Inflection Point IV - Bringing Autonomy to the Skies

With Matt George, CEO of Merlin Labs

Many firms chasing autonomous ground-vehicles have relied on SPACs to reach the public markets, and now Merlin Labs wants to bring autonomy to the skies. The Boston-based startup is developing an AI-powered “pilot,” the Merlin Pilot, designed to manage full “takeoff-to-touchdown” flights across a wide range of aircraft, from light planes to heavy transports.

This week, we talk with Merlin Labs CEO Matt George about why the company sat out the first wave of SPAC-driven aerospace mania, and why partnering with Inflection Point Acquisition Corp. IV (Nasdaq: BACQ) feels like the right moment to go public.

Matt explains that, in aviation, the use cases for autonomy can be more immediate and valuable than on the ground, from reducing crew needs on cargo and transport flights to enabling fully uncrewed operations in military and civil aviation.

We also explore the broader macro conditions driving demand higher, and where the market for autonomous flight stands today. How fast could it grow, and how high could it fly?

 

Tactical Resources and Plum Acquisition Corp. III: Fast-Tracking Rare Earths

With Ranjeet Sundher, CEO of Tactical Resources, and Kanishka Roy, CEO and Chairman of Plum Acquisition Corp. III

SPACs have played a big role in the race to develop US-based sources of rare earth materials, but few available target companies are within a few years having an operational mine. Tactical Resources aims to be the exception.

This week, we speak with Ranjeet Sundher, CEO of rare earth miner Tactical Resources, and Kanishka Roy, CEO and Chairman of Plum Acquisition Corp. III (OTC:PLMJF). They came together in a $589 million business combination announced in August.

Ranjeet explains how the unique qualities of his company's Peak Project could lend itself to a much earlier commercial launch. And Kanishka lays out how that timeline impacts the value case for this transaction in an environment where the demands and supply limits don’t look to ease anytime soon.

 

How BOXABL Plans to Scale Housing Affordability (FGMC)

Affordability has become a major theme of 2025 and of all the areas where technology has sped up processes and brought down costs, housing has been a stubborn exception.

One company that is trying to bring a new technology-based approach to this is BOXABL, and it has partnered with a SPAC to accelerate that vision. This week, we speak with Galiano Taramani, founder and co-CEO of BOXABL and Larry Swets Jr., CEO of FG Merger Corp. II (NASDAQ:FGMC). The two announced a $3.5 billion combination in August.

Galiano explains how BOXABL has found an edge in how it ships its modular homes and how it hopes to eventually manufacture them at a rate of one house per minute. Larry explains how BOXABL’s unique crowdfunding path gives FG Merger II confidence in the company’s journey after listing and how adding financial services angles to its platform could potentially take it to the next level.

 

Presidio and EQV Ventures: Optimizing Mature Oil & Gas Assets for Modern Returns

Presidio CEO Will Ulrich and EQV Ventures CEO Jerry Silvey Discuss Their $664 Million Combination

How do you build a fast-growing oil and gas company without drilling single hole and without planning to at any point in the future? That may sound like a riddle, but it’s actually a business model that public investors will soon be able to invest in.

This week, we speak with Will Ulrich, CEO of energy firm Presidio and Jerry Silvey, CEO of EQV Ventures Acquisition Corp. (NYSE:EQV). The two announced a $664 million combination in August.

Will explains how Presidio has built a platform to acquire and optimize mature oil and gas assets and why he is confident that the company’s playbook will allow it to remain aggressive while still paying out a sizeable dividend as soon as it lists.

Jerry tells us how his team’s first SPAC has managed to secure institutional buy-in for its vision at each stage and why he believes the time to accelerate Presidio’s strategy is now.

 

Infleqtion’s $1.8 Billion Quantum Leap with Churchill X (CCCX)

Infleqtion CEO Matthew Kinsella on the Business of Quantum Sensing and the Road Ahead (CCCX)

With capital pouring into quantum computing, the question is no longer if it will arrive, but what other parts of the quantum world are already here?

This week, we speak with Matthew Kinsella, CEO of Infleqtion. It announced a $1.8 billion business combination with Churchill Capital Corp. X (NASDAQ: CCCX) in September.

Infleqtion has already commercialized a line of quantum sensing devices for defense applications, which has put it ahead of many in the quantum pack in terms of revenue.

Matthew explains why the company has decided to carve out a place for itself in this area of critical technology while still simultaneously working to advance its computing technology and where he thinks the industry could be headed.

Which quantum computer will win? And, how much more addressable work is out there already in the quantum sensing market once Infleqtion is able to put this deal’s proceeds to work?

 

Small Reactors, Big Market: Terra Innovatum’s $475M Deal with GSR III

A conversation on nuclear’s next wave with Giordano Morichi of Terra Innovatum and Gus Garcia of GSR III Acquisition Corp. (NASDAQ: GSRT)

Developers of small, modular nuclear reactors have been among the most prized stocks of 2025 given their potential to be big players in the energy mix as data center demand booms. This demand is massive, but when it comes to nuclear reactor design, Terra Innovatum believes it’s a matter of the smaller the better.

This week, we speak with Giordano Morichi, Chief Business Development Officer and Head of Investor Relations at Terra Innovatum, and Gus Garcia, Co-CEO of GSR III Acquisition Corp. (NASDAQ:GSRT). The two announced a $475 million business combination April and are now nearing the end of their merger process.

Giordano explains why the unique size of Terra Innovatum’s 1 MW reactor designs make it a more competitive fit for a host of applications, and how its fuel source could get it to market faster initially and more efficiently over time.

Gus gets into how these factors have the potential to compound Terra Innovatum’s advantages and why the major gains made by the company’s listed peers has made its valuation even more attractive since the deal was struck.

 

Dynamix CEO Andrejka Bernatova Discusses The Ether Machine (ETHM)

This week, we sit down with Dynamix Corporation (NASDAQ:ETHM) CEO and Chair Andrejka Bernatova, who is about to list her third SPAC in the past four years with one business combination already completed and another pending.

She tells us how it has been quite the ride through the last two SPAC cycles and where she thinks SPACs at times went wrong during the last one. Right now, she is focused on completing Dynamix’s combination with crypto treasury firm The Ether Machine.

She explains why her team zeroed in on Ethereum as the cryptocurrency with the most promise and how that vision was informed by her team’s history of dealmaking in the oil and gas space.

How will these crypto treasury plays continue to differentiate as they become more numerous? And, what opportunities does she see around the bend for Dynamix III?