Special Purpose Acquisition Companies (SPACs)

Ultimus LeverPoint provides accounting and administration services to Special Purpose Acquisition Companies (SPACs), which have become a preferred way for experienced private equity and venture capital firms and managers to take companies public. Given the consolidated timeline of a SPAC, Ultimus LeverPoint is experienced in performing the appropriate accounting in order to reduce execution costs, increase opportunity efficiencies, and provide working group participants with enhanced accountability and transparency.

Benefits of partnering with Ultimus LeverPoint to service your SPAC includes:

  • Access to specialized professionals well versed in financial reporting and accounting standards
  • Moves responsibility off of management, creating greater flexibility
  • Independent review of all transactions
  • Access to accounting platforms and industry best practices

The accounting and administration services are performed by a team of highly qualified professionals. Our associates will assist with the navigation of the SPAC process by ensuring the proper internal controls and tools are in place. In addition, the team will maintain a high level of communication throughout the engagement, including weekly team status calls, and reviews of deadlines and objectives. The Ultimus LeverPoint culture is focused on being accurate, responding quickly to needs and requests, and going the extra mile for our clients.

Preparation of financial statements and footnotes for SEC filing requirements:

  • S-1 filing
  • 10Q filings
  • 10K filings

Monthly bookkeeping of the SPAC:

  • Maintain the general ledger
  • Prepare journal entries
  • Provide monthly bank reconciliations
  • Prepare financial statements

Maintenance of shareholder registry

Treasury Services:

  • Process Invoice Payments
  • Prepare and Review outgoing bank wires and checks
  • Provide an independent review of all outgoing payments
  • Perform OFAC procedures for all wires/checks prepared, prior to execution

Reconcile Bank Accounts

Maintain General Ledger

Quarterly Financial Reporting, including:

  • Supporting workpapers
  • Capital account schedules

Preparation of Capital Call calculations and notices

Preparation of Distribution calculations and notices, if needed

Distribution of Investor Correspondence

Treasury Services:

  • Process Invoice Payments
  • Prepare and Review outgoing bank wires and checks
  • Provide an independent review of all outgoing payments
  • Perform OFAC procedures for all wires/checks prepared, prior to execution
  • Reconcile Bank Accounts

1099 Preparation