Boardroom Alpha Digest: Mon, Jan 9

by | Jan 9, 2023

Executive News

  • Rite Aide Corporation (RAD) fired CEO Heyward Donigan and appointed Elizabeth (“Busy”) Burr as Interim CEO and member of the board. Donigan had served as CEO since 2019 with a (19)% annualized TSR during her tenure.
  • Emergent BioSolutions Inc. (EBS) announced a 5% workforce reduction and the elimination of various senior positions including Chief People Officer and Chief Strategy Officer.
  • Netflix (NFLX) poached Jeffrey Karbowski from PayPal Holdings (PYPL) where he will assume the role of Chief Accounting Officer
  • Morgan Stanley (MS) COO Jonathan M. Pruzan will retire at the end of January

IPOS

  • Skyward Specialty Insurance Group, Inc. (SKWD) and MGO Global Inc. (MGOL) are expected to price IPOs this week

SPACs

  • Former DeSPAC Paya Holdings Inc. (PAYA), via Betsy Cohen’s FinTech Acquisition Corp. III, agreed to be purchased by Nuvei Corporation (NVEI) in an all-cash deal valuing the company at $9.75 per share and a $1.3B EV.
  • First Light Acquisition Group (FLAG) announced a definitive agreement to take Calidi Biotherapeutics public. Calidi previously had plans to go public thru a different SPAC (ADOC) in a deal that was scrapped in August.

SPAC Calendar

Recent Analysis

Daily SPAC: GUAC, IDAC IPOs Add $400M in SPAC Capital – May 15, 2026

2 SPAC IPOs priced today, with Berto Acquisition Corp. II (GUAC) raising $250M and Iron Dome Acquisition I Corp (IDAC) raising $150M; IDAC funded trust at 100.5% of par. May MTD totals 9 IPOs / $1,425M through 15 days vs. 5 / $725M over the same span last month. Separately, RAAQ advanced its IQM merger with an F-4 filing.

Daily SPAC: SIMA, CAEP-Air Redemptions – May 14, 2026

SIM Acquisition I (SIMA) lost $242M from trust on its extension approval to Jul. 12, 2027, and Cantor Equity Partners III (CAEP) cleared its Air deal after $234M in redemptions. Separately, GSR V Acquisition (GSRV) priced a $200M IPO, taking May MTD to 7 SPAC IPOs / $1,025M through 14 days.

Daily SPAC: BREZ $125M IPO, GPAT Non-Redemption Agreements – May 13, 2026

GP-ACT III Acquisition (GPAT) disclosed non-redemption agreements tied to extension and trust-amendment votes, with investors pledging support and no redemptions alongside sponsor share transfers. Breeze Acquisition Corp. II (BREZ) priced a $125M IPO today with 100.2% initial trust funding; May MTD is 6 IPOs for $825M through 13 sessions vs. 2 IPOs / $350M at the same point last month.

Daily SPAC: CAEP Forward Purchase, AIR-Pubco – May 12, 2026

Cantor Equity Partners III (CAEP) announced a forward purchase with Harraden Circle to fund the CAEP-AIR-Pubco business combination. Columbus Acquisition (COLA) issued a convertible extension note to WISeSat.Space. MTD: 5 SPAC IPOs raised $700M through the first 12 sessions of May vs. 2 IPOs / $350M over the same span in April.

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