Case Studies

IPO Readiness (SPAC)

Background

A private equity backed school bus manufacturer pursues an exit through a transaction with a Special Purposes Acquisition Company (SPAC) with little time to prepare prior to the launch of the process.  Paradigm is brought in to provide accounting advisory support for critical path workstreams associated with the preparation of the proxy statement and to build and lead a project management office for the duration of the process.

Solutions

  • Built seven historical interim period models to reflect recast quarters with proper cut-off and supported parallel SAS 100 reviews
  • Prepared accounting position papers and supported the audit of the application of SAB 108 and Rule 3-09
  • Built and led project management office
  • Prepared proxy statement
  • Prepared SEC financial statements and footnotes
  • Supported SEC comment letter process

Outcomes

The combination of subject matter expertise and robust project management allowed the Company to file the first proxy statement with the SEC on time and ultimately contributed to the successful completion of the process five months after it began.

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